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Council adopts procurement-policy updates, sets $5,000 asset-inventory threshold
Summary
Ruidoso Downs adopted a resolution updating procurement procedures to align with state statute and clarified asset-inventory procedures, including using a $5,000 threshold for capital inventory; staff said the manual had not been updated since 2017.
The Ruidoso Downs City Council voted March 9, 2026, to adopt amendments to the city’s procurement policy (resolution 20-26-06) intended to align local procedures with state law and to add clearer asset-inventory management steps for departments.
City staff presented a handout describing the amendments and said most changes reflect state statute; the staff presentation highlighted a new emphasis on asset-inventory management to prevent repeated audit findings. A council member described the old policy language as overly granular — “counting how many batteries, nuts and bolts” — and said the new threshold would reduce needless minutiae.
Staff and council discussed a $5,000 inventory threshold that mirrors state requirements; staff said items above that threshold will be inventoried and those proceeds from equipment sales should return to the originating department’s budget. The council directed departments to give copies of asset changes to human resources/insurance to ensure coverage and to avoid audit gaps.
The resolution was adopted by the council. Staff said the procurement policy had not been updated since 2017 and that the change is designed to give departments consistent procedures and reduce repeated audit findings.
What’s next: Departments will receive the adopted amendments and staff will distribute the updated policy language to supervisors and department heads.
