NRS 354.626 – Unlawful expenditure of money in excess of amount appropriated; penalties; exceptions.
1. No governing body or member thereof, officer, office, department or agency may, during any fiscal year, expend or contract to expend any money or incur any liability, or enter into any contract which by its terms involves the expenditure of money, in excess of the amounts appropriated for that function, other than bond repayments, […]
NRS 354.613 – Enterprise funds: Loan or transfer of money in or associated with fund; increase in amount of fee imposed for purpose of fund; compliance reports; remedy for violation; regulations; applicability; plan to eliminate certain transfers from fund. [Effective through June 30, 2024.] Enterprise funds: Loan or transfer of money in or associated with fund; increase in amount of fee imposed for purpose of fund; compliance reports; remedy for violation; regulations; applicability; plan to eliminate certain transfers from fund. [Effective July 1, 2024.]
1. Except as otherwise provided in this section and NRS 354.59894, the governing body of a local government may, on or after July 1, 2011, loan or transfer money from an enterprise fund, money collected from fees imposed for the purpose for which an enterprise fund was created or any income or interest earned on […]
NRS 354.616 – Adjustment of expenses and revenues.
1. A local governing body may provide for the adjustment of expenses as defined by NRS 354.470 to 354.626, inclusive. Receipts from adjustment of expenses shall be credited to the governmental function to which the reimbursed expense was originally charged. 2. A local governing body may provide for the adjustment of revenues as defined by […]
NRS 354.620 – Unencumbered balance of appropriation lapses at end of fiscal year; reversion to fund.
Any unencumbered balance on an accrual or modified accrual basis or any unexpended balance on a cash basis remaining to the credit of any appropriation shall lapse at the end of the fiscal year and shall revert to the available balance of the fund from which appropriated. (Added to NRS by 1965, 735; A 2001, […]
NRS 354.6215 – Limitation on use of reserves or balances of funds created to insure risks.
Except as otherwise provided in NRS 354.6241, if a local government provides a fund for self-insurance of property, for any form of insurance for the benefit of its employees, or for any other risk that it is permitted by law to assume, the reserves or balance of a fund thus provided must not be expended […]
NRS 354.624 – Annual audit: Requirements; designation of auditor; scope and disposition; dissemination; prohibited provision in contract with auditor.
1. Each local government shall provide for an annual audit of all of its financial statements. A local government may provide for more frequent audits as it deems necessary. Except as otherwise provided in subsection 2, each annual audit must be concluded and the report of the audit submitted to the governing body as provided […]
NRS 354.6241 – Contents of statement provided by local government to auditor; expenditure of excess reserves in certain funds; restrictions on use of budgeted ending fund balance in certain circumstances.
1. The statement required by paragraph (a) of subsection 5 of NRS 354.624 must indicate for each fund set forth in that paragraph: (a) Whether the fund is being used in accordance with the provisions of this chapter. (b) Whether the fund is being administered in accordance with generally accepted accounting procedures. (c) Whether the […]
NRS 354.6245 – Review of annual audits by Department of Taxation; referral of accountant who issued noncompliant audit to Nevada State Board of Accountancy; plan of correction of violations.
1. The Department of Taxation shall review each annual audit to determine whether it complies with regulations adopted pursuant to NRS 354.594. Any independent auditor’s report, whether upon financial position and results of operations or upon internal financial controls, which the Department believes may not comply with those regulations must be referred by the Department […]
NRS 354.625 – Records relating to property and equipment; control of inventory.
The governing body of every local government shall: 1. Cause to be established and maintained adequate property and equipment records and, where appropriate, adequate inventory controls. Any local government created after July 1, 1975, shall establish such records and controls within 1 year after its creation unless the Department of Taxation grants an extension of […]
NRS 354.6256 – Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions.
The proceeds from any obligation issued by a local government that has a term which is more than 1 year must not be used to pay operating expenses, except that: 1. The proceeds of any obligation issued to construct or acquire a facility may be used to pay operating expenses for the period provided in […]