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Board approves interfund loan to formalize ongoing subsidy for NCRC childcare program
Summary
The board approved an interfund loan of $256,805.43 from the general fund to the district's childcare (NCRC) enterprise fund, formalizing prior general fund support and responding to state accounting guidance requiring enterprise fund accounting.
The Nevada Community School District Board on June 16 approved an interfund loan of $256,805.43 from the general fund to the district's childcare enterprise (NCRC) to formalize ongoing subsidies the district has historically provided.
A staff presentation explained that the NCRC (Nevada Resource/Childcare Center) has long operated at a deficit and was historically supplemented from the general fund. State reviewers now require that an…
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