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Centennial Commission reviews FY2025 finances, requests detailed breakdown of administrative costs
Summary
Paul Presenhand of the City of Las Vegas Department of Finance presented the commission's financial statement as of April 30, 2025, reporting about $1.3 million in license‑plate revenue and a net change in assets of roughly minus $258,000.
Paul Presenhand of the City of Las Vegas Department of Finance presented the Commission for the Las Vegas Centennial with the commission's financial statement as of April 30, 2025, saying the commission had received about $1.3 million of license‑plate revenue (three of four payments) and $205,000 in interest income through that date.
Presenhand said total expenditures for the fiscal year were about $1,770,000 and that the commission's net change in assets was a decline of about $258,000; the commission began the year with approximately $6,450,000 and had about $6,200,000 remaining as of April 30, 2025. He told the commission that the full fourth license‑plate payment would likely be about $450,000, which would leave the fiscal year close to the $1.8 million budgeted but roughly $100,000 below the original projection.
Commissioners pressed for more detail. Commissioner Stodahl asked that the finance materials be included in the board packet going forward and requested a line‑by‑line breakdown of the general and administrative expenses, noting a $234,000 line with $181,000 spent and about $150,000 identified as a payment to the city for services. Presenhand said the numbers were pulled from Oracle and that he would provide the detailed breakdown by the next meeting.
Commissioner Kaufman and others asked for historical trend data on license‑plate revenues and the underlying counts of plates. Kaufman said the commission had repeatedly requested the DMV plate counts and had not yet received them; Presenhand and other staff said they would follow up. The mayor offered to contact the DMV if staff encountered difficulties obtaining the data.
The item was presented for information only; no commission vote was required on the report. Commissioners agreed staff should provide the requested packet materials, a clearer expense breakout tied to the current operating agreement, and trend data for license‑plate receipts ahead of the July meeting.
Ending: Staff committed to provide the line‑item expense detail and the historical revenue trend to the commission before the next meeting and to attempt to obtain the DMV plate counts that commissioners requested.
