Nevada Committee on Local Government Finance places IVGID on fiscal watch
Nevada Committee on Local Government Finance places IVGID on fiscal watch
On April 29, 2025, The Incline Village General Improvement District (IVGID) was placed on “fiscal watch” by the Nevada Department of Taxation’s Committee on Local Government Finance (CLGF). This means that the State and the CLGF will offer extra expertise and technical advice to the District in completing and submitting its 2023-2024 fiscal year audit, as well as adding additional deadlines to ensure the District stays up to date with the statutory financial reporting guidelines going forward. These procedures are largely consistent with how IVGID has been operating in collaborating with the State tax officials over the last few months.
At the same meeting, the CLGF also approved an extension until late May 2025 for the District to submit its completed 2023-2024 fiscal year audit and Annual Comprehensive Financial Report (ACFR) to the State, and acknowledged the District’s significant progress made recently toward meeting these obligations.
“IVGID recognizes the challenges we’ve had in the past and has taken appropriate measures to enhance the internal controls that we have in place,” said Robert Harrison, IVGID general manager. “We have made significant progress in addressing the reporting challenges that have occurred since the District switched its financial reporting to the Tyler ERP system in 2022.”
According to Harrison, who represented the District at the April 29 meeting, the CLGF committee members noted that the primary reason IVGID was placed on fiscal watch is the tardiness in completing the audit and filing the Annual Comprehensive Financial Report for fiscal year 2023-2024. Additionally, the District’s auditors (Davis Farr) submitted a disclaimer of opinion for IVGID’s fiscal year 2022-2023 audit report, primarily because of challenges in the transition from the District’s previous financial software to the Tyler ERP financial software.
“The silver lining for IVGID as a result of this designation is the State of Nevada is able to provide more administrative support and resources to IVGID than it would be able to without the designation,” Harrison said. “The State does not restrict the ability of the District to operate autonomously, the Board still makes policy decisions and the administration can conduct business without interference. We anticipate being able to have this designation removed once the State benchmarks have been met.”
IVGID does comply with state law and Board Policy and still is able to use its resources to provide services for District parcel owners.
IVGID Board Chair Michaela Tonking recognized the need for the State to place the fiscal watch designation on IVGID because of the missed auditing deadlines.
“The Board of Trustees have been active in working with the State and IVGID Staff to get previous years’ fiscal challenges resolved and get the organization back to fiscal health with a clean set of financial statements and an actual audit,” Tonking said.
