weather icon Partly Cloudy

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.
VEA makes move to fulfill Pahrump community center commitment

The Nye County Commission has given the thumbs up to the letter of intent from Valley Electric Association outlining the cooperative’s desire to make good on promises made to the community by donating $5 million, plus necessary land, to construct a new community center in Pahrump.

Roundup focuses on Beatty burros

What do you do with too many burros? The U.S. Bureau of Land Management’s solution to that problem is to gather as many as possible and take them to holding facilities.

Nevada Assemblyman Hafen receives conservative achievement award

The American Conservative Union Foundation’s 2019 ratings have been released and top conservatives from the state of Nevada were honored with awards during the foundation’s recent inaugural CPAC West conference, hosted Sept. 13 in Reno.

Pahrump dealership addresses impact of national UAW strike

The Pahrump Valley Auto Plaza won’t run out of vehicles manufactured by General Motors Company anytime soon, as the strike that sent over 49,000 General Motors workers from the factory floor to the picket lines in mid-September continues.

Dan Simmons’ Sportsman’s quest: Exploring the Legends of the Lake

Nevada always has been the land of legends, mysteries and adventures. When it comes to fishing, it’s no different, as I discovered at Pyramid Lake, a short distance north of Reno.

Pahrump Senior Center to host rummage sale

Officials at the Pahrump Senior Center want the community to know that “one person’s clutter is another person’s treasure.”

Lauver, Kamien rule at Pahrump homecoming

The announcement of Pahrump Valley High School’s homecoming king and queen was taken very differently by the two winners who heard their names called at halftime of the Trojans’ football game against Boulder City on Sept. 13.

Circus delights crowd in Pahrump

Upward of 200 area residents took in the sights and sounds of the Jordan World Circus at McCullough Arena in Pahrump Sept. 14.

Man with knife arrested at Pahrump Valley High School

A Pahrump man is facing charges after allegedly brandishing a pocket knife while threatening several Pahrump Valley High School students in the parking lot of the campus.