Nevada Administrative Code
Chapter 354 - Local Financial Administration
CREATION OF FUNDS
Section 354.241 - Contents and filing of resolution adopted to create certain funds
Current through September 16, 2024
A resolution adopted by a local government to create a fund of a type which is listed in paragraph (a) of subsection 5 of NRS NRS NRS 354.624, must be filed with the Department immediately upon adoption and must contain:
1. A statement of the purpose of the fund.
2. The sources of the money that is expected to be deposited in the fund.
3. A short-term and long-term plan for the expenditures from the fund.
4. A plan for the retention or disposition of the balance, reserves and retained earnings of the fund.
5. A mechanism for curing deficiencies in the balance, reserves and retained earnings of the fund.
6. The method by which a determination will be made as to whether the balance, reserve and retained earnings of the fund are reasonable and necessary to carry out the purpose of the fund.
7. A list of all statutes and regulations that apply to the fund.
Added to NAC by Tax Comm'n, eff. 7-9-96
NRS 354.612, 360.090
