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RTC accepts quarterly Regional Street and Highway Fund report as commissioners warn gas tax lags inflation
Summary
The RTC accepted a quarterly financial report showing a positive fund balance but commissioners noted the gas-tax revenue is largely flat and does not keep pace with rising construction costs. The treasurer and staff reviewed receipts, apportionments and expenditures.
The Elko County Regional Transportation Commission on July 1 accepted the quarterly report on the Regional Street and Highway Fund after staff said the fund shows a positive cash and fund balance.
Mary, the staff member presenting the financials, summarized monthly and fiscal-year receipts for gas and diesel taxes and said the fund shows available cash to continue projects. "We have a positive fund balance and cash balance, so there's still money in there to continue to fund projects," Mary said.
Commissioners pressed staff on timing and magnitude of receipts. Commissioner Huber sought clarification on when revenues become available for spending; staff explained that receipts in one fiscal year are generally available for the following fiscal year. The chair framed the larger budget challenge: "gas taxes have been extremely flat...and at the same time the cost of delivering services has gone up exponentially," noting that a roughly $5 million annual revenue pool is limited once split among jurisdictions.
A motion to accept the treasurer's report was made by Commissioner Huber and seconded by the chair; the motion carried on a voice vote. The acceptance preserves current project funding allocations while commissioners continue to weigh long-term revenue adequacy and allocation priorities.
