Commissioners Receive Annual Financial Report

The Certified Public Accountants, HintonBurdick, issued a "clean" opinion of the Churchill County financial statements last week at the commission meeting. Sherry Wideman, County Comptroller, reported on the audit after a presentation by the CPA firm, saying governmental activities are up $5.48 million this year, and business activities are up $911,000.

Overall, the change from Fiscal Year 2023 shows governmental revenue down $13.2 million, and governmental expenses up $4.6 million. Wideman reminded commissioners that the county received $20 million from the Navy last year as part of the Fallon Range Training Complex agreement, which explains such a large decline. Business-type revenue (phone company and golf course) is up $1.3 million, and expenses are up $3.96 million.

According to the financial reports presented, general revenues decreased to $37,126,669 from $52,559,218—a decrease of $15,432,549 or -29.36%. The county’s primary general governmental revenue sources are ad valorem taxes of $11,592,153 and consolidated taxes at $8,630,989. These two revenue sources comprise 31.22% and 23.25% of countywide general revenues, respectively. Ad valorem revenues increased by $907,343 or 8.5%, due in part to the increase in the assessed value and abatements. The assessed value increased as a result of plant expansion in the geothermal/solar sector, new housing starts, as well as increases in real estate values. The consolidated tax revenues, which include sales tax revenues (SCCRT & BCCRT), cigarette, liquor taxes, real property transfer tax, and government services tax, decreased $36,454 from $8,667,443 to $8,630,989, down .4% primarily due to a decrease in taxable sales. The general revenues decrease is mainly due to the fiscal year 2022-23 one-time federal funding for the Navy’s Fallon Range Training Complex Modernization with the FY23 National Defense Authorization Act.

Total expenses were $71,564,058, an increase of $8,575,907 or 13.62% countywide over the prior year. The governmental activities expenses were $48,100,768 or 67% of the total expenses. Whereas the business-type activities expenses were $23,463,290 or 33% of the total expenses. The increase in governmental activities was $4,618,870 or 10.6% higher, mainly due to overall costs of operations. The largest functions are public safety, general government, public works, welfare, and judicial. These account for 86% of the governmental activities. The increase in expense of the business-type activities was $3,957,037 or 20.3% from $19,506,253 to $23,463,290. Telephone operations continue to be the largest business-type activity at 55% of the business-type activities. Telephone expenses increased $1,671,961 or 15% from $11,193,980 to $12,865,941, due to higher operating expenses.

Current year revenues, including capital grants, unrestricted investment earnings, and contributions, general revenues exceeded expenses by $3,814,574. This indicates that current year resources provided for necessary services during the year.

The audit also covered CC Communications and the Central Nevada Health District, both of which also were issued "clean" opinions.