IVGID Meeting Highlights

April 29, 2020

Board of Trustees Meeting (April 14th)

Given the financial impacts and uncertainty caused by the COVID-19 pandemic, the Board unanimously decided to defer the decision on the proposed 5.5% utility rate increase until July.

For the same reason, the Board unanimously decided to defer the procurement of new ski rental equipment for Diamond Peak until next season.  The Diamond Peak staff will repair their existing equipment for roughly $16,000 to allow for another season of use.

After much discussion regarding the Recreation and Beach fees, the Board approved a public hearing be scheduled for May 27th at 6pm.  While four of the Trustees expressed their support of maintaining the total recreation fee at $830, they discussed the possibly of increasing the Beach fee and while reducing the Community Services fee by the same amount.  Trustee Schmitz spoke in opposition of retaining the same level of fees due to the reduced access to venues due to the pandemic, the financial impacts by parcel owners during this time, and due to the over $6M+ in excess reserves the Community Services fund.  The excess reserves are over and above the Board Policy for the acceptable reserve level.  The Board Policy results in a recommended fund balance of approximately $4M fund balance and the current balance is approximately $10M.  The Board will be viewing the 2020/2021 budget on May 6th with a workshop scheduled for May 7th.  The final budget is to be submitted to the state by the end of May.

The Board unanimously approved the submittal of the “tentative budget” to the Nevada Department of Taxation by the April 15th deadline.  The Board will be working to revise the budget prior to its final submittal to the state by May 30th.  The first revisions to the budget will be presented at the May 6th Board of Trustees meeting with a workshop scheduled for May 7th at 5pm.  The public hearing is scheduled for May 27th at 6pm.

The Board unanimously approved providing written notice to its legal counsel, Hutchison & Steffen, PLLC.  The language in the letter was modified to remove the clause “without cause” and the removal of another sentence.  The District is in the process of seeking interim legal counsel.

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