Each year when the District’s Board of Trustees (“Board”) approves a budget for the forthcoming year, it adopts an updated Central Service Cost Allocation Plan pursuant to Board Policy 18.1.0 which we are told is designed to distribute “the cost … Continue reading →
As elsewhere stated, the District’s central services cost transfers are allocated between and come from the District’s Utility, Community Services and Beach Funds. But where do the monies for these transfers actually come from? Take another look at the Plan … Continue reading →
In a word, NO! As we’ve discussed elsewhere, according to staff the District’s “central services” transfers distribute “the cost of services (allegedly) provided by the General Fund to the District’s various enterprise funds, departments or divisions.” But are they really? And … Continue reading →
The answer is yes! As elsewhere stated, the District is subject to the LGBFA, and the Governmental Accounting Standards Board’s (“GASB’s”) standards. GASB Statement No. 34 instructs that “major funds are funds whose revenues, expenditures/expenses, assets, or liabilities (excluding extraordinary … Continue reading →
As demonstrated elsewhere, the purpose for general improvement districts (“GIDs”) is supposed to be “to provide various urban type services (to real property in)…areas where such services (a)re not available and (cannot) be provided (for) by general purpose government(s)” such as counties, cities and … 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 a specific power which allows GID boards to … Continue reading →
If one examines the Incline Village General Improvement District’s (“IVGID’s”) revenue sources assigned to recreation (but for the beaches), at least up until fiscal year 2019-20 nearly 25% of reported operational revenue came from the RFF. And were it not … Continue reading →
If one examines NRS 318, nowhere will one find the terms “fuels management” or “defensible space” (go ahead and do a word search). If one examines IVGID staff’s accounting glossary within the budget the Board adopts each year, one will find the … Continue reading →
Courts have oftentimes been asked to define the characteristics of a “tax,” and how they differ from other kinds of monetary exactions such as “fees.” The distinction is one that is not always observed with nicety in judicial decisions. Notwithstanding, … Continue reading →
Because the RFF and the BFF represent such large percentages of the revenues assigned to the District’s Community Services (i.e., public recreation) and Beach Funds, respectively, we believe it important to understand what these monetary exactions actually represent. And their … Continue reading →