101 North Halagueno Street | (575) 887.1191
The City of Carlsbad Finance Department is responsible for all receipts and disbursements concerning all City Departments. Finance Department branches include payroll, purchasing, utility bill receipts and billing, EMS receipts, accounts payable, fixed asset coordination, accounting and reception.
The City of Carlsbad has approximately forty (40) accounting funds comprised of sixty (60) departments and nine (9) bank accounts. It is the mission of the Finance Department to provide excellent service of the highest quality to every person in a courteous and professional manner.
The City of Carlsbad is required by Section 6-6-2 NMSA 1978 to submit an interim budget, for approval, to the New Mexico Department of Finance and Administration by June 1 of each year. A final budget, for approval, is required to be submitted by July 31 of each year. Adjustments to the final budget must be approved by both the City Council and the Department of Finance and Administration. Quarterly reports must be submitted to the Department of Finance and Administration as well.
It is the responsibility of the City Treasurer to receive, disburse and account for all moneys belonging to the City. The Finance Department is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to federal programs.
City of Carlsbad financial statements are prepared in accordance with generally accepted accounting principals (GAAP) as applied to governmental units.
The Governmental Accounting Standards Board (GASB) is the standard-setting body for governmental accounting and financial reporting.
The accounts of the City of Carlsbad are organized on the basis of funds and account groups, each of which is a separate accounting entity. The operations of each fund are accounted for through a set of self-balancing accounts which compromise its assets, liabilities, fund equity, revenues and expenditures/expenses.
City of Carlsbad Special Revenue Funds include:
The City of Carlsbad maintains cash accounts and certificates of deposit in four banks within its geographical area. The banks are covered by FDIC insurance and collateral pledged to the City of Carlsbad accounts. The collateral pledged consists of obligations insured or guaranteed by the U.S. agencies or obligations insured or guaranteed by the State and its subdivisions.
Current and Historical Gross Receipts Tax Distributions Received
The Gross Receipts Tax Rate for Carlsbad effective January 1, 2016 is 7.5625% - State of NM Tax Table
View the Current Fee Schedule
Phone: (575) 887-1191 Ext 7912