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County finance director reports preliminary FY25 revenues above expectations; impact fees and room taxes up
Summary
Finance staff told the Nye County Board of Commissioners that preliminary FY25 results show revenue gains — including unexpected unrealized investment gains and higher room tax receipts — and that general fund revenues are now tracking slightly above budget after late adjustments.
Finance Director Stephanie Elliott reported to the Nye County Board of Commissioners on Sept. 3 that preliminary FY25 financial results had improved since the August report, with several revenue streams exceeding budgeted expectations.
Elliott said the general fund is now roughly $2.5 million over budget (about 104% of goal) compared with an earlier 94% snapshot. She cited higher-than-expected unrealized investment gains and increased net-proceeds revenue as drivers of the better-than-budget result. She also noted room‑tax receipts were stronger than anticipated for the towns of Pahrump and Beatty.
Elliott identified notable increases in two funds tied to development: impact fees (fund 10250) and public improvement fees, both well over budget compared with prior-year levels. She also described capital-projects revenue as over budget (citing net proceeds and unrealized investment gains) and recommended careful monitoring as the county closes fiscal 2025.
Why it matters: Preliminary over‑performance on some revenue lines improves short‑term fund balance prospects but does not eliminate structural budget pressures. Elliott warned the figures are preliminary and that final adjusting entries and receivables were still being posted.
Selected figures and observations reported by staff - General fund: preliminary reporting indicated roughly $2.5 million more revenue than previously posted, bringing the general fund to about 104% of the adopted revenue target as of the (updated) check the presenter reported on the morning of the meeting. - Capital projects: net proceeds and unrealized investment gains drove a capital‑project revenue line to about 172% of budgeted levels in one reported fund, with about $515,000 above anticipated revenues attributable to interest and unrealized gains. - Town funds: Pahrump funds showed lower year‑to‑date expenditures (about 61% of budget) but higher revenues compared with the prior year; Beatty room tax and capital projects also posted above‑budget receipts.
Council and public reaction: Commissioners and members of the public praised the clarity of the report; one public commenter asked whether books are closed or adjustments remain to be posted. Elliott reiterated that fiscal 2025 was still open to final adjustments but that the overall picture had improved since the earlier report.
Ending: Staff emphasized the preliminary nature of the numbers and pledged to return with final figures after the year is closed and remaining entries post.
