IVGID board receives mid-year budget update

Laney Griffo

INCLINE VILLAGE, Nev. — The general improvement district’s budget is looking “favorable” as of Dec. 31, according to a mid-year report presented to the board of trustees.

The board received the mid-year budget update, which runs from July 1 to Dec. 31 during their Wednesday meeting. The update shows revenue exceeding expenditures by a little over $1 million.

Director of Finance Paul Navazio also said he expects to end the year in the black. He said it looks like facility operations are expected to come in under budget and both the general and utility funds will likely have a surplus.

During his presentation, he also gave an update on capital improvement projects. In May 2020, the board approved a budget with some carry-over dollars from the prior year. However, the audit in June showed some of the carry-over amounts might differ from what was approved. So the board approved a resolution to adjust the budget to reflect the actual carry-over amount.

The board also held their second of three budget workshops. This week’s workshop covered the baseline operating budget and framework for district pricing policy.

The final workshop will be held in March and the board’s next regular meeting is scheduled for March 10.

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.