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Silver City council approves transfers totaling $1.1 million to close out FY26
Summary
Council approved Resolution 20 26-24 to transfer $1,106,043.70 into the general fund to cover deficits from FY26; the motion passed unanimously after a roll call.
Silver City’s town council unanimously approved Resolution 20 26‑24 on July 29, authorizing transfers from several restricted funds into the general fund to cover deficits remaining from the fiscal year that ended June 30, 2026.
The business operations manager told the council that transfers included $119,000 from cannabis funds, $551,002.11 from other special revenue funds, $2,671.12 from the state legislative appropriation fund, $114,032.22 from other state-funded projects, $30,003.92 from federal projects and $23,006.03 from trust and agency funds — “So out of those funds, a total of $1,106,043.70 was transferred to the general fund,” the business operations manager said. She further reported total transfers among all funds of $2,101,002.71.
Mayor called for a motion; a councilor moved to approve Resolution 20 26‑24 and a second was recorded. The clerk conducted a roll call and recorded ayes from Councillors Sluis, Prince, Schneider and Munoz. The mayor announced the motion passed and entered the resolution into the record.
The action covers last‑year adjustments needed to balance the town’s accounts and does not itself create new programs or change policy; it reallocates previously received and budgeted fund balances into the general fund to address identified shortfalls.
