http://www.youtube.com/watch?v=bDFQiFeZGJ4&feature=youtu.be
The City of Las Cruces released its proposed budget for fiscal year 2014-15 on Monday. City manager for Las Cruces, Robert Garza, says leaving 17 positions unfilled saves the city about $1 million.
"You know we have 1400 employees in 250 different offices," said Garza.
To give you a perspective of just how many positions are at the City of Las Cruces, those 17 positions make up about 1 percent of the total expenditures.
Right now, no current employees are being laid off. The positions simply won't be filled.
Garza says that new impact fees on new development which we have covered in the past, Garza says will not be back for the foreseeable future.
"We really didn't have a fiscal discussion about impact fees…it was more about infrastructure," said Garza.
How can the city pay for infrastructure then?
Instead, municipal bonds will pay for those, he says.
"…and taking advantage of the marketplace…municipal bonds…really good for borrowing money right now," said Garza.
The state requires the City of Las Cruces to have one-twelfth of its expenses set aside for reserves. Garza says the city has twice that, which ensures a higher bond rating.
"In comparison to other options for investors, municipal bonds are a really good investment because the risk is so low," said Garza.