The town of Pahrump saw its financial position strengthen during the last fiscal year as revenues continue to increase, according to an annual audit.
The town had $3.45 million in expenditures against $4.46 million in revenues, during the fiscal year ended June 30, 2016, according to auditor Daniel McArthur of Las Vegas.
McArthur, who presented information on the county’s financial situation at the last meeting in 2016, said the town’s end-of-year balance increased from $4.15 million on June 30, 2015, to $5.15 million on June 30, 2016.
McArthur called the end balance “very strong” adding, “There are no budget violations with the Pahrump town fund,” McArthur said.
The fund is finances by taxes, licensing and town permits, charges for town services, and fines and forfeitures.
One key highlight was the town’s ability to cut its bad debt connected to the ambulance fund from $962,000 in 2015 to $337,000 last year, the lowest it has been the prior four or five years due to collections.
“And that’s an improvement as far as the bad debt is concerned for the Pahrump town ambulance,” McArthur said.
Separately, he also addressed the Pahrump Swimming Pool Special Fund.
According to the documents, it had an ending fund balance of $261,230 in 2016, up from $241,515 in 2015. Expenditures for the district were $164,274.
McArthur said the fund and district are “in good financial shape.”
He also presented the Northern Nye County Hospital District audit for 2016, the first year of operations after the taxes were levied at the beginning of July 2015.
The district’s general fund had a balance of $709,168 in 2016, according to the documents.
“That includes real property tax, personal property tax and net proceeds of minerals, or mines,” McArthur said.
General revenues for the district were $712,134 and were comprised of $707,570 in property taxes and $4,564 in investment income.
The $709,168 in revenue is also a fund balance, McArthur said, because there were no expenditures from Northern Nye County Hospital District this year due to concerns that were raised about the formation of the district and its ability to enter into contracts and spend money.
After the attorney general’s opinion that came in August after the end of the last fiscal year, there was a decision not to incur any expenditures until after that opinion had been received.
“This hospital district basically represents property taxes collected, investment income with no expenditure, pending that attorney general opinion that came after the end of the (fiscal) year,” he said.
As of June 30, the end of fiscal year 2016, the district had no capital assets and debt.
McArthur said he didn’t have any prior year findings and current year findings that relate to statute.
“There are obviously no expenditure violations,” McArthur said.
According to the audit for the town of Pahrump, the town had $5.5 million in total assets in 2016, compared to $4.4 in 2015. Total liabilities were at $308,758, up from $232,621 in 2015.
Contact reporter Daria Sokolova at dsokolova@pvtimes.com. On Twitter: @dariasokolova77