Serving Clovis, Portales and the Surrounding Communities
Serving Clovis, Portales and the Surrounding Communities
The City of Clovis Commission will be starting the fiscal year 2024 with a $67 million cash balance in the budget, which is $7 million more than what was predicted in the preliminary budget that was hosted in May, said City Finance Director LeighAnn Melancon told the Clovis city commission Monday in a special meeting.
At Monday’s meeting the City of Clovis Commission approved the 2023 fiscal year end financial report and fiscal year 2024’s final budget, as presented by Melancon.
The final report for fiscal 2023 approved on Monday, showed the year ending with $59 million in cash, $82 million in revenue and $95 million in expenditures, said Melancon.
Fiscal 2023 ended June 30. Fiscal 2024 began July 1 and will end on June 30, 2024.
Melancon said that city staff had predicted the final budget for 2023 would have been about $56 million, revenue of $62 million and expenditures of $73 million when they set the preliminary budget that was presented earlier in the year.
Melancon explained on Monday, that while the beginning preliminary budget for the fiscal year 2024 was $60 million in cash, with $60 million in revenue, $69 million in expenditures anticipated through the year.
In the final budget, she said, fiscal 2024 is beginning with $67 million in cash and anticipeates $74.6 million in revenue, and $91.9 million in expenditures through the year.
The commission approved the final 2023 report an the 2024 budget unanimously, with only six of the came to a unanimous vote with only six of the nine commission members present for Monday’s meeting.
