City approves preliminary 2007 budget
Published: Thursday, May 25th, 2006
The Clovis City Commission approved a preliminary budget for the 2007 fiscal year of nearly $35.4 million at a special meeting Thursday. The preliminary budget does not yet include anticipated grant funding as well as such expenditures as the Clovis Civic Center. According to City Manager Joe Thomas, expenditures will likely increase about 8 percent over 2006’s figures with an estimated 7 percent boost in gross receipts tax revenues. The city’s budget for the 2006 fiscal year that ends June 30 is $58 million. Don Clifton, finance and budget director, noted that the city is estimated to have a cash balance of $2.4 million and is budgeting $18 million in general fund expenditures. Since the state requires Clovis to maintain cash reserves of one-twelfth expenditures, or about $1.5 million, Clifton said the city will be able to use the $900,000 difference to defray the cost of salary increases. Commissioners are expected to act on a final budget at their regular July 20 meeting, Thomas said. The budget then is sent to the New Mexico Department of Finance and Administration for oversight by July 30. In other commission business, Mayor David Lansford asked the Commission to consider implementing a recycling program and requested it be a future agenda item. He also asked that the Commission consider revising its handicapped parking signs to include posting the fine.
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