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Finances Q&A (from September 5, 2017 Community Forum)

Our Incline Village Crystal Bay Voice Posted on by

Q) Is there a long term liability for IVGID retirement and if so what is it? A) IVGID makes annual contributions to two pension plans and two deferred compensation plans. According to Note 10 and Note 11 on pages 50 and 51 of the 2016 Comprehensive Audited Annual Financial Report (CAFR) for June 30, 2016, IVGID contributed $1,368,000. The long term liability we believe would be the requirement to fund these Plans in the future. Q) Why are you not addressing the Army Corps of Engineers funds for the Effluent Pipeline? This question was asked of Mr. Dobler after his … Continue reading →

Parasol Q&A (from September 5, 2017 Community Forum)

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Q) What public meetings about Parasol are upcoming? A) According to Chairwoman Wong, Parasol will be on the Agenda of every Board Meeting until the Board reaches a decision. She also stated that a Public Meeting would be dedicated to the Parasol Proposal Q) What is the Parasol Purchase? A) In the late 1990’s Parasol made a pledge to IVGID citizens, the Donald W. Reynolds Foundation, private donors and community non-profits to construct, operate and maintain a Community Non-Profit Center that would comply with its long term Business Plan. In response to this commitment, IVGID citizens generously leased Parasol 2.3 acres of … Continue reading →

Effuent Pipeline and Utility Reserves

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by Cliff Dobler Originally submitted to the IVGID Board of Trustees on June 26, 2017 Re: Utility Fund – Accumulated resources for the Effluent Pipeline and misrepresentation of the Utility Fund Restricted Net Position. It is with true dismay that the Staff of IVGID  has been reporting  in the audited financial statements and other memorandums that the accumulated money collected through increases in Sewer rates specifically for the Effluent Pipeline are UNRESTRICTED funds . This money is RESTRICTED. History of committing and restricting funds The Effluent Pipeline  is a phased project which started several years ago.  Phase1 completed in 2012 … Continue reading →

Overcrowding at the beaches

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By: Clifford F. Dobler Much Discussion and debate has been held  regarding Ordinance 7 and the ever increasing number of people  using beach facilities.  This analysis may help you  understand the various factors which affect beach use. First and foremost there are 7,756 parcels or dwelling units that are entitled to obtain a maximum of 5 Picture passes or punch cards in any combination for payment of the annual Rec Fee.   Each parcel owner can chose to buy an unlimited number of additional punch cards. The Picture passes provide  unlimited use and can be obtained by anyone  who is one … Continue reading →

IVGID’S proposed purchase of the Donald W Reynolds building, (Parasol

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by Clifford F. Dober On March 17, 2017 Parasol asked IVGID to entertain  an amendment of the land lease where the Parasol building  is located History The land lease is for 2.39 acres and was executed in January 2000  calling for payments of $1 per year for 30 years with  three 23 year options for a potential total of 99 years. Total payments will be $99 The lease allowed Parasol to construct a 31,500 sf building financed by a grant of $6,500,000 from The Donald W. Reynolds Foundation and approximately $7,000,000 provided from other donors. The land has a deed … Continue reading →