Despite the challenges of the pandemic, Clark County’s financial health remains strong. That’s according to a newly created report from the Clark County Auditor’s office that aims to provide residents with a “user-friendly” abridged overview of the county’s financial health.
“The LCP is another tool for ensuring transparency and accountability to the public regarding their county government,” County Auditor Greg Kimsey said in a prepared statement. “Our hope is that users will find it easier to engage with the county through LCP. “
PAFR stands for “People’s Annual Financial Report,” and Mark Gassaway, county finance director, said it’s designed to be more narrative and citizen-centric, unlike the full report’s calendar-centric format.
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While not as detailed as the county’s full annual report, the new report still provides an in-depth look at where county funds are coming from and spending.
For example, the new report divides income and expenses into two categories: government activities and business-type activities. Government activities are mainly financed by taxes and include basic services such as public security, public health and public administration. Commercial type activities are primarily supported by user fees and service fees (i.e. wastewater treatment, Tri-Mountain golf course).
In 2020, revenue totaled $ 461.8 million, an increase of 18.7% over 2019 revenue of $ 389.07 million. By comparison, spending increased 10.5% in 2020 to $ 336.46 million, from $ 304.44 million in 2019.
The report says, “Much of the increase in revenue was due to federal funding to help the county fight the COVID-19 pandemic, which resulted in higher than expected spending to fight the virus.” Operating grants were the second largest source of revenue for the county at $ 109.9 million. The largest source was property taxes at $ 118.9 million.
The county received $ 48 million under the Coronavirus Aid, Relief, and Economic Security, or CARES, Act, which was used for COVID-19 testing, increased disinfection of public spaces and personal protective equipment, as well as grants to small businesses and assistance to public services. .
“The county’s response is still ongoing and in 2021 has moved to include COVID-19 vaccinations,” the report says.
With the funding for the CARES Act ending, Gassaway said programs related to those grants would also come to an end. However, the county is expected to receive $ 95 million in 2021 and 2022 under the American Rescue Plan Act.