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Eddy County adopts FY2627 final budget, creates $25.5M community development fund and increases road funding
Summary
The commission adopted the FY2627 final budget (resolution R2653), including $25.5 million for a new community development fund (including $5M for daycare operations and $3M in commissioner discretionary funds), an $18M package for roads and bridges, 26 new positions and a 5% COLA.
Finance staff presented the FY2627 final budget and described changes since the interim budget. Staff said the county had already transferred $20,500,000 into a new community development fund and planned to transfer another $5,000,000, creating roughly $25,500,000 to use for community projects; the presentation cited planned allocations including $5,000,000 for Crossroads Schools daycare operational support and $3,000,000 for commissioner discretionary funding.
The budget presentation explained an $18,000,000 use of increased oil-and-gas revenue to fund one-time transfers: $5,000,000 to road construction, $5,000,000 to road improvements, $2,000,000 to bridge construction, and $1,000,000 to land acquisition. Staff also proposed 26 new positions across departments and a 5% cost-of-living adjustment for employees. The commission moved, seconded and approved resolution R2653 to adopt the final FY2627 budget by roll-call vote.
During discussion staff noted a $2,000,000 increase for the county's planned detention center owner's-representative and described truing-up adjustments across grant and special funds. The board approved the budget for submission to the state by the July 31 deadline.
