On June 27, the Fallon City Council met in their regular meeting to address and approve five resolutions adjusting funding issues, with no objection from either the public or the council.
The first resolution (24-06) augmented the Fiscal Year 2024 budget for $4,417,000 into the General Fund, the Convention and Tourism Authority Fund for $150,000, and the Mayor’s Youth fund for $15,000. Nevada Revised Statute authorizes the city to augment a budget when anticipated resources are in excess of funds estimated at the beginning of a budget cycle. Councilwoman Kent motioned for approval, and Councilman Harmon seconded it.
The second resolution (24-07) authorized a temporary inter-fund loan of $600,000 from the Landfill Enterprise Fund into the Water Enterprise Fund. The loan is to be repaid in full in one year. Councilman Harmon motioned for approval, and Councilwoman Kent seconded it.
The third resolution (24-08) authorized a temporary loan of $400,000 from the Landfill Enterprise Fund, placing the money in the Sewer Enterprise Fund. Similar to 24-07, the loan will be repaid in one year. Councilwoman Frost motioned for approval, and Councilman Harmon seconded it.
Utility rates were significantly increased in April 2023 and adjusted again on July 1, 2024, based on the Consumer Price Index. The increased utility rates will allow for more resources for loan repayment.
The fourth resolution (24-09) functions to “true up” the 2023-24 Fiscal Year budget by augmenting funds based on the total available resources at the end of the year. The augmentations included the Electric Enterprise Fund in the amount of $1,155,000, the Water Enterprise Fund for $175,000, the Sewer Enterprise Fund for $325,000, the Sanitation Enterprise Fund for $490,000, the Landfill Enterprise Fund for $374,000, the Data Processing Internal Service Fund for $25,000, and the Public Works Internal Service Funds in the amount of $243,000. It was motioned for approval by Councilman Harmon and seconded by Councilwoman Frost.
The fifth and final resolution (24-10) authorized the allowance adjustment for doubtful accounts to the Enterprise Funds’ account receivables for $84,859. The accounts presented had been outstanding before July 1, 2022, and are no longer city customers. The accounts have been forwarded to a collection agency for additional collection efforts. The adjustment represents 0.4% of the Enterprise Funds’ total operating revenues for the 2023 Fiscal Year. This resolution was motioned for approval by Councilwoman Kent and seconded by Councilman Harmon.
Nevada Revised Statute 354.598005 allows for budget appropriations between functions and funds if those transfers do not increase the total appropriations for the fiscal year.
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