Carson City supervisors to review financial report

The Board of Supervisors will be asked to review and approve a financial report, as required by state law, on Thursday.

The meeting starts at 8:30 a.m. in the community center. An annual comprehensive financial report of the last fiscal year, which ended June 30, and findings from an audit by HintonBurdick CPAs and Advisors will be presented. HintonBurdick has provided an “unmodified or clean opinion” of the city’s finances, meaning accounting principles have been followed.

According to Sheri Russell-Benabou, Carson City chief financial officer, the city ended the last fiscal year with a $299.3 million net position for governmental activities. Assets and deferred outflows of resources totaled $613.7 million, compared to $314.4 million in liabilities and deferred inflows of resources.

According to Universal CPA, a deferred outflow of resources is a “consumption of net assets by the government that is applicable to a future reporting period.” A deferred inflow is an “acquisition of net assets by the government that is applicable to a future reporting period.”

For governmental activities for the last fiscal year, Carson City saw revenue of $141.8 million, and expenses of $102.5 million. The general fund had revenue of $97.7 million, and expenses of $77.3 million.

For Carson City business-type activities, assets and deferred outflows came in at $295.1 million, versus $135.8 million in liabilities and deferred inflows. Revenues for business activities were $49.2 million, and expenses $33.7 million.

Expenses by function for Carson City governmental activities for the fiscal year ending in June. (Provided by Carson City) 

In other actions, supervisors:

• Will consider an exclusive negotiating rights agreement between Carson City and PalaSeek LLP regarding 3.41 acres of city-owned land off Butti Way. If approved, the agreement would set the stage for a larger development agreement for phase 2 of the Sierra Flats affordable housing project.

Phase 1, entailing 80 units, is currently under construction. Another city-owned parcel of 2.91 acres was conveyed to developers for the first phase.

“It is anticipated that the city and the developer will enter into a development agreement for the phase 2 project,” reads a draft of the negotiating rights agreement. “Although specific details regarding the land transfer will be summarized in any future DA (development agreement), it is expected that the city will convey the land to the developer at no cost, except that developer will be responsible for all transfer taxes and similar costs associated with completing any such transfer.”

• Will hear a presentation from outgoing Clerk-Recorder Aubrey Rowlatt about completed and pending projects for the office as well as the transition plan for the newly elected clerk-recorder, William Scott Hoen.

• Will convene as the Board of Health to hear reports from Nicki Aaker, director of Carson City Health and Human Services.

Besides sharing information about the Carson area, Aaker will discuss the newly-developed Central Nevada Health District, which is comprised of Churchill, Pershing, Eureka and Mineral counties.