106°F
weather icon Clear

Special revenue funds allocated by county

Following the controversial repeal of the ordinance that governed federal funds that had been formed by the Payment Equal to Taxes from Yucca Mountain, Nye County officials recently determined the future of those funds.

In a unanimous vote, Nye County commissioners decided to put the $5,886,500 emergency endowment fund that had been earmarked for various projects into the general fund and move the four remaining funds totaling $12,278,135 into the debt service.

“The money that was moved into the general fund will pay for those already approved projects that we agreed to and the other money that was put into the debt service means that it will be there to pay for the jail,” said Nye County Commission Chairperson Lorinda Wichman.

Additionally, Nye County Comptroller Amy Fanning said officials had already set aside $1,196,896 for capital projects.

Nye County commissioners earlier approved rescission of the ordinance that was enacted in 2000 by the previous board of commissioners for operation of five special revenue funds that included special project, education, PILT, emergency and capital improvement endowments.

The emergency endowment fund balance can’t be merged into the general fund and can only be used for cash flow, while the four funds allocated for debt service will go toward the upgrade of the 911 system and the Nye County Detention Center, the only debt that Nye County currently has, officials said.

Annual interest owed on the Nye County Detention Center bond is $1,270,621, officials previously said. The county also receives a $404,692 subsidy from the IRS which leaves an owed balance of $865,929.

Although the emergency endowment fund will go into the general fund, it will not be distributed among all of the accounts within the general fund. Instead, officials said it will stay in a special classification called “committed funds” which means it can’t be spent to augment the budget.

“This committed money would go into the ending fund balance (of fiscal year 2015) and stay there. It could not be distributed as budget to spend on your normal operating expenses,” Nye County Manager Pam Webster said.

Several Nye County officials and residents criticized the rescission of the ordinance, however officials said that the endowment funds are restricted only by the ordinance and not by NRS or federal law.

“I admire the decision by the previous board of commissioners, (but) they didn’t have the same challenges we have now,” Wichman said.

Contact reporter Daria Sokolova at dsokolova@pvtimes.com. Find her on Twitter: @dariasokolova77.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Exposure forces closure of Pahrump Justice Court

The Pahrump Justice Court announced Monday that it will be closed effective Tuesday, July 7 because of a COVID-19 exposure.

Tax deadline coming up on July 15

As the July 15 deadline for filing income taxes nears, the IRS is reminding taxpayers who have yet to file that IRS.gov has tools and services to help them meet their tax obligations.

Bars closed again in Nye, 6 other Nevada counties

Nye County was one of seven Nevada counties affected when the Nevada Department of Health and Human Services announced the elevated disease transmission criteria for determining whether a county must revert to Phase 1 of the state’s reopening plan for bars.

Appreciation Picnic honors Pahrump’s and Nye’s first responders

With red, white and blue decorations gracing tables, American flags and banners lining the fence and snapping in the breeze, balloons floating in the air and big smiles at the ready, area residents came together last week to honor the men and women who take on the duties of first responders for not just Pahrump but the entire county of Nye.

Pahrump pool season sinks amid lack of lifeguards

After the announcement that the 2020 Pahrump Community Pool season had been scrapped because of a lack of staffing applicants and the subsequent push to get more locals to apply for one one of the open positions that followed, the town of Pahrump was hoping that this year’s pool season would be saved.

UNR scientists make key advance in X-ray images

A team of scientists, led by University of Nevada, Reno’s Hiroshi Sawada, an associate professor of physics, demonstrated that numerical modeling accurately reproduces X-ray images using laser-produced X-rays. The images were obtained using the university’s chirped pulse amplification-based 50-terawatt Leopard laser at their Zebra Pulsed Power Lab.

Studies determine shutdown saved millions

Two separate research studies determined that shutdown orders prevented about 60 million coronavirus infections in the United States and saved about 3.1 million lives in 11 European countries.

Bicyclist dies after being struck by vehicle

A Pahrump man is dead after being struck by a vehicle while riding a bicycle Friday evening, July 3rd.

Camp Fire of 2018 leads to new wildfire research

Moved by the tragedy of the 2018 Camp Fire, a team of engineers and scientists are coming together in a new five-year project to develop a comprehensive computational, live digital platform to predict and monitor wildfire risk that can be used by wildfire managers, emergency responders and utility companies to plan for, respond to and remediate wildfires.