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Las Vegas Centennial Commission hears budget update as plate revenue shows modest decline
Summary
City finance staff told the Centennial Commission that 10 months into fiscal 2026 total revenues are about $1.4 million, program expenditures $1.26 million and cash on hand remains roughly $6.1 million, but a projected 2% drop in specialty license-plate revenue could require dipping into unallocated funds depending on future approvals.
The Commission for the Las Vegas Centennial on May 11 heard a financial update showing the commission remains well-funded but faces a softening revenue outlook that could reduce its unallocated balance.
Paul Breznahan, senior financial analyst with the city finance department, reported actuals through April 30, 2026: total year-to-date revenues of about $1.4 million, program expenditures of $1,260,950 and general-and-administrative costs of $185,000, leaving a small change in net assets. The commission opened the fiscal year with roughly $6.2 million in cash and is projected to finish the year near $6,123,000.
Breznahan said the commission received three DMV contribution payments this fiscal year: the first for $421,000, the second for $44,000 and a third for $434,000. Interest income year-to-date was about $165,000. He told commissioners that, historically, DMV contributions have trended downward and staff set a 2% decline for next year as a conservative estimate.
Commissioners sought clarity on the assumptions. Commissioner Stoall asked whether the last-quarter payment typically exceeds other quarters; staff said the final payment usually arrives in July and will be accrued back into the fiscal year. Stoall and others pressed whether a 2% forecast is realistic or whether a larger decline (3—5%) might be more prudent.
Breznahan said the 2% figure was chosen because recent year-over-year declines have generally been smaller than 2 percent, but that the projection can be adjusted if commissioners prefer a more conservative planning assumption. Staff also noted about $2.5 million in funding is still reserved for approved projects, and roughly $2 million of that is expected to be spent after June 30.
Several commissioners raised the question of a formal reserve threshold. Diane Cbrandt, executive director, said there was no single "magic number" but suggested that if cash on hand dropped closer to $1 million the commission could impose tighter spending limits or grant caps similar to other local programs. The commission requested staff prepare options for formal limits and more frequent reporting if proposals move the commission toward using unallocated cash.
The commission took no immediate funding action on the basis of the report. The presentation closed with an agreement to monitor incoming DMV revenue and to revisit spending policy if projections worsen.
