CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Jessica L. Colvin, Chief Financial Officer |
Recommendation:
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Approve, adopt, and authorize the Chair to sign the Notice of Intent to Act on a Resolution to Augment the Fiscal Year 2021 Medical Assistance to Indigent Persons Fund (2380) Budget; direct the County Clerk to publish on May 25, 2021, the notice in a newspaper of general circulation; and set a public hearing for June 1, 2021, at 10:00 a.m. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2380.000 |
Fund Name: |
Medical Assistance to Indigent Persons Fund |
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Fund Center: |
N/A |
Funded PGM/Grant: |
N/A |
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Amount: |
$3,260,255 |
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Description: |
N/A |
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Additional Comments: |
N/A |
BACKGROUND:
An augmentation of appropriations is necessary to give the legal authorization to expend the additional resources.
With the completion of the annual financial statements, the County may adjust the beginning fund balance to reflect increases above the current year's approved budget. The excess opening fund balance is a result of actual revenues exceeding estimates. Resources to offset the increase in appropriations is primarily from unanticipated property tax revenues and interest earnings. An augmentation in the amount of $3,260,255 is recommended.
As prescribed by NRS 354.598005, the augmentation procedure for funds receiving ad valorem revenue is a two-meeting process. The first required action is a Notice of Intent to Act on a Resolution to Augment Budget, followed by a Resolution to Augment on a subsequent agenda. Therefore, the action before you today is to direct the Clerk to publish the Notice of Intent to Act on a Resolution to Augment Budget. The publication should be accomplished on May 25, 2021, in order to meet legal requirements.
The date for a public hearing will be June 1, 2021, at 10:00 a.m.