Tentative Budget – Revenue Misstated on State Budget Forms

April 13, 2022

The Nevada Department of Taxation Form 4404LGF, submitted to the Board of Trustees at their meeting on April 13th, excluded over $4M of revenue for the Community Services Fund Statement of Cash Flows. Questions were raised regarding the form at the meeting. Missing from the state forms were the revenues contained in the District budget that included the facility fee, interfund services, operating grants, and rent totaling just over $4M. Staff corrected the revenues and made other updates to the forms before submitting the 4404LGF to the Department of Taxation. Click here to view the agenda item and forms presented to the Board. The state form begins on page 67 of the .pdf and is labeled page 224 of the board packet.

Additionally, the Board again had discussion with the Director of Finance regarding how  the Facility Fees are reported in the District’s financial reports and budgets. This issue has been an ongoing topic of discussion for the Audit Committee and the Board since the delivery of the Moss Adams recommendations on financial reporting.

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