Category Archives: FINANCIALS

State considers “fiscal watch” for IVGID

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[Update Oct 24, 2024: The Local Government Finance Committee selected a sub-committee to determine whether IVGID will be placed on “fiscal watch”. The sub-committee members are Gina Rackley, Josh Foli, and Jeffrey Share. Video of the Oct 23, 2024 meeting: https://www.youtube.com/watch?v=XV-q5CLazhM  ] The Nevada Department of Taxation will consider whether the Incline Village General Improvement District should be put under “fiscal watch” over its severe financial problems. The meeting agenda says the department may choose to place IVGID under “fiscal watch” — or state monitoring. They may also consider “any other actions deemed necessary by the committee, including, without limitation, … Continue reading →

Is it a Tax or a Fee? In Nevada…

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. . . . Here’s an analysis of how the IVGID’s “recreational facility fee” would likely be classified under Nevada law: Classification of IVGID’s Recreational Facility Fee The IVGID’s recreational facility fee would likely be classified as a **special assessment tax** rather than a fee under Nevada law. Here’s why: 1. Purpose of the charge: The primary purpose appears to be raising revenue for recreational facilities and services, rather than regulating a specific activity or defraying the costs of a particular service[1]. 2. Lack of voluntariness: The fee is mandatory for property owners and collected through property tax bills, making … Continue reading →

IVGID’s Management response to forensic audit report

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Below is the evaluation of IVGID’s Mgmt response to the Rubin Brown Forensic Audit Report , written by an  Artificial Intelligence Bot. Our human observations are that there will be no change in IVGID or its culture of no controls, based on continued stonewalling regard financial records. For fiscal year 2023, the General Ledger is over $4 million out of balance (as of 8-3-2024) while the fiscal year 2024 is over $15 million out of balance (as of 7-10-2024). Clearly the Tyler Munis is not properly implemented. In a  Committee meeting on Local Government Finance at the State of Nevada … Continue reading →

IVGID’s Auditor refuses to issue audit opinion

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[Update Oct 11, 2024: The Nevada Department of Taxation issued a letter to IVGID saying they have not complied with NRS 354.624(4);  a disclaimer of opinion is NOT an opinion. The letter is below. The “damages” are the cost of doing the audit again – which is what will be required for IVGID to be in compliance.] CPA firm Davis Farr issued a “Disclaimer of Opinion”  letter to the Incline Village General Improvement District for the audit of its fiscal year ending June 30, 2023.  A disclaimer of opinion means there was not sufficient, appropriate evidence for auditors to even … Continue reading →

IVGID’s Financial Meltdown – Part 2

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[UPDATE: Sunday, Nov 5, 2023 Several residents have emailed us expressing concerns and asking what they can do. We have some solution-oriented ideas and would like to share them with you. Email us at village_alliance at ourivcbvoice.com ] If you spent over half a million dollars for a computer system, wouldn’t you expect your staff to ensure the system worked before you turned off the old system?   This would be normal for a financial systems conversion. Some organizations elect to “run parallel” with their old system for several months to gain confidence and experience.   But not the Incline Village … Continue reading →

OPINION: Cooking the Books – Part 3

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This article examines the Land in the Utilities account:  $6,715,543.64 according to the audited financial statements (6/30/2022). That $6,715,543.64 matches the Fixed Asset Ledger-Land-Utilities  exactly. That should be good – but it’s not. Why? Because the ledger does not contain accurate, supporting details. Only one item in the ledger contains  a parcel number. The FA Ledger for Land – Utilities ties exactly to the audited financials for 2022 back to 2009:  $6,715,544. And then from 2007,  the numbers don’t match  (graphic)– until magically they again match in 1990.   This is evidence the FA Ledger was created to tie to … Continue reading →

Nevada Globe investigates IVGID

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The Nevada Globe is investigating IVGID. Numerous ethics complaints filed against General Manager allege misuse of $693,000 in public funds. Read the full story here. The Nevada Journal published an article – IVGID’s efforts to conceal public records gets bizarre: Staff blandly admits felony-level destruction of email records. It is republished here under the Creative Commons license.

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