Allocating The Cost Amongst Multiple Funds/Sub-Funds, Whether or Not The Allocation is Justified: The Recreation (“RFF”) and Beach (“BFF”) Facility Fees, and the water/sewer utility rates local parcel owners involuntarily pay. But annual audits of all local governments’ financial statements … Continue reading →
As elsewhere discussed, NRS 354.624(1) mandates that as a Nevada “local government” subject to the Local Government Budget and Finance Act (“LGBFA”), each year IVGID must “provide for an audit of all of its financial statements.” Given NRS 354.486 provides for … Continue reading →
The costs the District incurs for its mandated audits are not inconsequential. To give the reader an idea, “at the…Board of Trustees(‘)…meeting of March 10, 2021 the Board…approved a five-year professional services contract with DavisFarr, LLP to provide independent audit … Continue reading →
Unlike budgets and audits, the NRS does not mandate local governments adopt strategic plans. Yet “when it comes to getting things done as a local government, (we are told that) two of the most critical variables are budgets and timeframes. … Continue reading →
As explained elsewhere, general improvement districts (“GIDs”) are limited purpose forms of local government with very little means of generating revenue. So when they undertake functions beyond their limited purpose(s), such as fuels management or defensible space, generating the revenues necessary to financially … Continue reading →
Given NRS 318.210 instructs that “the board shall have and exercise all rights and powers necessary or incidental to or implied from the specific powers granted in this chapter;” and NRS 318.197(1) represents such a specific power which allows GID boards … Continue reading →
As explained elsewhere, general improvement districts (“GIDs”) are limited purpose forms of local government with very little means of generating revenue. So when they undertake functions beyond their limited purpose(s), generating the revenues necessary to financially support those functions becomes … Continue reading →
So as elsewhere stated, we see that the District’s central services costs are directly allocated and transferred from its Utility, Community Services and Beach Funds to its General Fund. But where do the monies from these former funds actually come … Continue reading →
As explained elsewhere, general improvement districts (“GIDs”) are limited purpose forms of local government with very little means of generating revenue. So when they undertake functions beyond their limited purpose(s) such as building bloated infrastructure support which can be outsourced for less. Not … Continue reading →