Centennial fund reports $6.2 million cash balance; license-plate revenue under review

Paul Resnahan, Department of Finance, told the Commission for the Las Vegas Centennial on March 24 that the commission’s fund balance was about $6,200,000 as of the February month-end financial statements. Resnahan said the commission has received roughly $40,700,000 in total revenue since inception and that about $34,500,000 has been disbursed into community projects to date.

Resnahan explained that most of the commission’s cash is held in a money-market fund and walked commissioners through line items including license-plate revenue and interest income. He said license-plate receipts reflect two of four seasonal payments and noted interest and miscellaneous revenues; he estimated "by the end of the year" other income could reach about a quarter-million dollars. Resnahan also gave a net change-in-assets figure through February showing a negative change of about $253,000 for the fiscal year to date.

Commissioners asked for more detail on a recent jump in specialty plate sales. Commissioner Mills asked whether spikes in particular commemorative plates (Raiders, Golden Knights and others) had an identifiable cause; Resnahan said he lacked the DMV breakdown and had asked the Department of Motor Vehicles for renewal-versus-new data but had not received a response. Commissioner Louise Helton and others urged staff to keep pursuing the DMV contact and to provide the fuller plate listing requested at a prior meeting.

Several commissioners also reiterated a desire for clearer, itemized reports in the format previously provided. Resnahan said he could supply the expanded chart and would continue to seek renewal-versus-new detail from the DMV. He did not provide an exact attendance figure tied to license-plate purchases and said the DMV contact has been intermittently responsive.

The presentation was informational; there was no vote on budget policy or spending during the meeting.