CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
Petitioner:
Jessica L. Colvin, Chief Financial Officer
Recommendation:
title
Approve, adopt, and authorize the Chair to sign a resolution abolishing the Public Parking Fund (5380) (For possible action)
body
FISCAL IMPACT:
Fund #:
5380.000
Fund Name:
Public Parking
Fund Center:
N/A
Funded PGM/Grant:
Amount:
Description:
Additional Comments:
The residual balance of the Public Parking Fund (5380) will be transferred to the County Parking Fund (6830).
BACKGROUND:
In 1983, the Clark County Board of County Commissioners created an enterprise fund - Public Parking Fund (5380) - to account for the collection of parking fees and recording of expenses associated with the operation of the County's parking garage at Bridger and Casino Center. At the time, the County's parking garage had ample available spaces. The unused spaces were leased out to the public to generate revenue that could be used to partially support a portion of the cost of operating the garage. Over the past forty years, County operations in the downtown area have grown to a point that the parking spaces previously leased out are now needed for current employees. Since the garage will no longer operate as an enterprise, financial guidelines require the abolishment of the enterprise fund, and that the County now account for the costs associated with the operation of this function, as well as any other parking facilities or lots operated by the County for the use by its employees, as an internal service fund.