Sandoval County’s Budget preparations begin in March of each Fiscal Year and is completed and submitted to the Department of Finance & Administration for final approval by July 30th. (see budget time line below)
The State of New Mexico requires the County to submit a “balanced budget” each fiscal year for funds the county has taken the roll of physical agent. Each fund must meet the statutory requirements and have a cash balance not less than zero at the end of each fiscal year.
The County has statutory reserves requirements. The General Fund is required to set aside an additional 3/12 or .25% of it’s budgeted expenses, and the Road Fund must set aside 1/12 or .0833% of it’s budgeted expenses as a reserve each fiscal year.