reglab/housing_qa huggingface dataset:
NV Rev Stat § 354.612 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.612 - Establishment of one or more funds by resolution required; contents of resolution; accounting requirements; copy of resolution to be provided to Department of Taxation; proprietary funds; enterprise funds.

  1. A local government shall establish by resolution one or more funds. The resolution establishing the fund must set forth in detail:  (a) The object or purpose of the fund;  (b) The resources to be used to establish the fund;  (c) The source or sources from which the fund will be replenished;  (d) The method for controlling expenses and establishing revenues of the fund; and  (e) The method by which a determination will be made as to whether the balance, reserve or retained earnings of the fund are reasonable and necessary to carry out the purpose of the fund.  2. Financial statements and other schedules required for funds must be prepared in accordance with generally accepted accounting principles.  3. Upon adoption of a resolution establishing a fund, a local government shall provide an executed copy of the resolution to the Department of Taxation.  4. In establishing a proprietary fund, a local government shall, besides furnishing working capital for the fund, provide that one of its financial objectives is to recover the complete costs of operation of the activity being financed, including overhead, without producing any significant amount of profit in the long run.  5. Each enterprise fund established must account for all charges properly related to the purpose of the enterprise fund, including, without limitation, debt service, capital outlay and operating expenses. Upon dissolution of the enterprise fund, no transfer of equity that may be made available to other funds or functions may be declared until after all proper obligations have been charged against the enterprise fund.  (Added to NRS by 1965, 734; A 1971, 201; 1981, 1767; 1991, 390; 2001, 1810; 2005, 579)
NV Rev Stat § 354.616 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.616 - Adjustment of expenses and revenues.

  1. A local governing body may provide for the adjustment of expenses as defined by NRS 354.470 to 354.626, inclusive. Receipts from adjustment of expenses shall be credited to the governmental function to which the reimbursed expense was originally charged.  2. A local governing body may provide for the adjustment of revenues as defined by NRS 354.470 to 354.626, inclusive. Disbursements for adjustment of revenues shall be charged to the revenue account to which the refunded revenue was originally credited.  (Added to NRS by 1965, 735; A 1971, 1015, 1344)
NV Rev Stat § 354.620 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.620 - Unencumbered balance of appropriation lapses at end of fiscal year; reversion to fund.

Any unencumbered balance on an accrual or modified accrual basis or any unexpended balance on a cash basis remaining to the credit of any appropriation shall lapse at the end of the fiscal year and shall revert to the available balance of the fund from which appropriated.  (Added to NRS by 1965, 735; A 2001, 1810)
NV Rev Stat § 354.6215 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.6215 - Limitation on use of reserves or balances of funds created to insure risks.

Except as otherwise provided in NRS 354.6241, if a local government provides a fund for self-insurance of property, for any form of insurance for the benefit of its employees, or for any other risk that it is permitted by law to assume, the reserves or balance of a fund thus provided must not be expended for any purpose other than that for which the fund was established, except that when the governing body deems the reserve or balance to be no longer required, either in whole or in part, it shall transfer the excess balance to the general fund of the local government. Any such transfer must be reported to the Department of Taxation within 30 days. Money so transferred is not available as a basis for augmentation of the local government’s budget during the year of transfer.  (Added to NRS by 1981, 310; A 1995, 1934)
NV Rev Stat § 354.6241 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.6241 - Contents of statement provided by local government to auditor; expenditure of excess reserves in certain funds; restrictions on use of budgeted ending fund balance in certain circumstances. [Effective through June 30, 2021.]

  1. The statement required by paragraph (a) of subsection 5 of NRS 354.624 must indicate for each fund set forth in that paragraph:  (a) Whether the fund is being used in accordance with the provisions of this chapter.  (b) Whether the fund is being administered in accordance with generally accepted accounting procedures.  (c) Whether the reserve in the fund is limited to an amount that is reasonable and necessary to carry out the purposes of the fund.  (d) The sources of revenues available for the fund during the fiscal year, including transfers from any other funds.  (e) The statutory and regulatory requirements applicable to the fund.  (f) The balance and retained earnings of the fund.  2. Except as otherwise provided in subsection 3 and NRS 354.59891 and 354.613, to the extent that the reserve in any fund set forth in paragraph (a) of subsection 5 of NRS 354.624 exceeds the amount that is reasonable and necessary to carry out the purposes for which the fund was created, the reserve may be expended by the local government pursuant to the provisions of chapter 288 of NRS.  3. For any local government other than a school district, for the purposes of chapter 288 of NRS, a budgeted ending fund balance of not more than 16.67 percent of the total budgeted expenditures, less capital outlay, for a general fund:  (a) Is not subject to negotiations with an employee organization; and  (b) Must not be considered by a fact finder or arbitrator in determining the financial ability of the local government to pay compensation or monetary benefits.  (Added to NRS by 1995, 1934; A 2001, 387, 1812; 2011, 1690; 2015, 2967; 2019, 3608)
NV Rev Stat § 354.6241 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.6241 - Contents of statement provided by local government to auditor; expenditure of excess reserves in certain funds; restrictions on use of budgeted ending fund balance in certain circumstances. [Effective July 1, 2021.]

  1. The statement required by paragraph (a) of subsection 5 of NRS 354.624 must indicate for each fund set forth in that paragraph:  (a) Whether the fund is being used in accordance with the provisions of this chapter.  (b) Whether the fund is being administered in accordance with generally accepted accounting procedures.  (c) Whether the reserve in the fund is limited to an amount that is reasonable and necessary to carry out the purposes of the fund.  (d) The sources of revenues available for the fund during the fiscal year, including transfers from any other funds.  (e) The statutory and regulatory requirements applicable to the fund.  (f) The balance and retained earnings of the fund.  2. Except as otherwise provided in subsections 3 and 4 and NRS 354.59891 and 354.613, to the extent that the reserve in any fund set forth in paragraph (a) of subsection 5 of NRS 354.624 exceeds the amount that is reasonable and necessary to carry out the purposes for which the fund was created, the reserve may be expended by the local government pursuant to the provisions of chapter 288 of NRS.  3. For any local government other than a school district, for the purposes of chapter 288 of NRS, a budgeted ending fund balance of not more than 16.67 percent of the total budgeted expenditures, less capital outlay, for a general fund:  (a) Is not subject to negotiations with an employee organization; and  (b) Must not be considered by a fact finder or arbitrator in determining the financial ability of the local government to pay compensation or monetary benefits.  4. For a school district, for the purposes of chapter 288 of NRS, a budgeted ending fund balance of not more than 16.6 percent of the total budgeted expenditures for a county school district fund:  (a) Is not subject to negotiations with an employee organization; and  (b) Must not be considered by a fact finder or arbitrator in determining the financial ability of the local government to pay compensation or monetary benefits.  (Added to NRS by 1995, 1934; A 2001, 387, 1812; 2011, 1690; 2015, 2967; 2019, 3608, 4240, effective July 1, 2021)
NV Rev Stat § 354.6245 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.6245 - Review of annual audits by Department of Taxation; referral of accountant who issued noncompliant audit to Nevada State Board of Accountancy; plan of correction of violations.

  1. The Department of Taxation shall review each annual audit to determine whether it complies with regulations adopted pursuant to NRS 354.594. Any independent auditor’s report, whether upon financial position and results of operations or upon internal financial controls, which the Department believes may not comply with those regulations must be referred by the Department to the Nevada State Board of Accountancy for investigation and such action in respect to the issuing accountant as the Board may find appropriate in the circumstances.  2. In its review of the annual audits submitted, the Department shall identify all violations of statute and regulation reported therein. Within 60 days after the delivery of the annual audit to the local government, the governing body shall advise the Department what action has been taken to prevent recurrence of each violation of law or regulation or to correct each continuing violation. The Department shall evaluate the local government’s proposed plan of correction and, if the plan is satisfactory, shall so advise the governing body. If the plan is not satisfactory, the Department shall advise the governing body that it deems the plan inadequate and propose an alternative plan. Within 30 days thereafter the governing body shall report its assent to the Department’s plan or request a hearing before the Nevada Tax Commission. This hearing must be held at the next meeting of the Commission, but the hearing must not be held more than 90 days after such a request is received. The determination of the Nevada Tax Commission is final.  3. If the governing body fails to submit a proposed plan of correction pursuant to subsection 2, or the Executive Director of the Department of Taxation determines that the plan established is not being complied with, he or she must, through the Office of the Attorney General, seek a writ from a court of competent jurisdiction to compel compliance.  (Added to NRS by 1981, 310; A 1983, 252)
NV Rev Stat § 354.625 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.625 - Records relating to property and equipment; control of inventory.

The governing body of every local government shall:  1. Cause to be established and maintained adequate property and equipment records and, where appropriate, adequate inventory controls. Any local government created after July 1, 1975, shall establish such records and controls within 1 year after its creation unless the Department of Taxation grants an extension of time.  2. Require that all such property, equipment and inventory records clearly indicate specific ownership.  3. Designate, by entry in the minutes of the governing body, the officer, employee or officers or employees responsible for the maintenance of property and equipment records and, where appropriate, inventory records, and notify the Department of Taxation of such designation.  (Added to NRS by 1967, 940; A 1975, 157, 1689)
NV Rev Stat § 354.6256 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.6256 - Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions.

The proceeds from any obligation issued by a local government that has a term which is more than 1 year must not be used to pay operating expenses, except that:  1. The proceeds of any obligation issued to construct or acquire a facility may be used to pay operating expenses for the period provided in subsection 7 of NRS 350.516.  2. The proceeds of a medium-term obligation issued by a local government with respect to which the Nevada Tax Commission has determined that a severe financial emergency exists pursuant to NRS 354.685 may be used to pay operating expenses with the approval of the Executive Director of the Department of Taxation.  (Added to NRS by 2001, 2318)
NV Rev Stat § 354.655 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.655 - Definitions.

As used in NRS 354.655 to 354.725, inclusive, unless the context requires otherwise:  1. "Basic function" means an activity of a local government for the purpose of accomplishing a primary service or function of the local government, including, without limitation, those services and functions relating to general governance, public safety, public works, public health, public welfare and judicial services or functions for which the local government is responsible.  2. "Commission" means the Nevada Tax Commission.  3. "Committee" means the Committee on Local Government Finance.  4. "Department" means the Department of Taxation.  5. "Executive Director" means the Executive Director of the Department.  6. "Fiscal watch" means the monitoring of a local government pursuant to a notice issued pursuant to subsection 1 of NRS 354.675.   7. "Holder" includes, without limitation, any owner or other person described in NRS 350.530, a trustee, guarantor, insurer and credit enhancer, and a bank that issues a letter of credit.  8. "Local government" means any local government subject to the provisions of the Local Government Budget and Finance Act.  9. "Technical financial assistance" means assistance provided by the Department to a local government, including, without limitation, assistance with developing budgets, reviewing contracts, analyzing cost allocations, debt management, feasibility analyses and revenue forecasting.  10. The words and terms defined in the Local Government Budget and Finance Act have the meanings ascribed to them in that act.  (Added to NRS by 1995, 141; A 1995, 1901; 1999, 1032, 2538; 2001, 1814; 2005, 1392; 2015, 724)
NV Rev Stat § 354.657 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.657 - Purpose; liberal construction.

  1. The purpose of NRS 354.655 to 354.725, inclusive, is to:   (a) Restore and maintain the financial solvency of any local government in financial distress;  (b) Provide basic functions for which a local government in financial distress is responsible; and  (c) Provide a tiered program of financial oversight and assistance by the State based on the existing financial conditions of a local government, including, without limitation, placing the local government on fiscal watch, providing technical financial assistance to the local government and assisting the local government if it is found to exist in a state of severe financial emergency.  2. To accomplish the purpose set forth in subsection 1, the provisions of NRS 354.655 to 354.725, inclusive, must be broadly and liberally construed.  (Added to NRS by 2001, 1795; A 2005, 1392; 2007, 2882; 2015, 725)
NV Rev Stat § 354.665 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.665 - Delinquent documents: Notification; explanation to Committee on Local Government Finance; withholding of payments.

  1. If a local government does not file a statement, report or other document as required by the provisions of NRS 350.013, 354.5945, 354.6015, 354.6025, 354.624, 354.6245 or 387.303 within 15 days after the day on which it was due, the Executive Director shall notify the governing body of the local government in writing that the report is delinquent. The notification must be noted in the minutes of the first meeting of the governing body following transmittal of the notification.  2. If the required report is not received by the Department within 45 days after the day on which the report was due, the Executive Director shall notify the governing body that the presence of a representative of the governing body is required at the next practicable scheduled meeting of the Committee to explain the reason that the report has not been filed. The notice must be transmitted to the governing body not less than 5 days before the date on which the meeting will be held.  3. If an explanation satisfactory to the Committee is not provided at the meeting as requested in the notice and an arrangement is not made for the submission of the report, the Committee may instruct the Executive Director to request that the State Treasurer withhold from the local government the next distribution from the Local Government Tax Distribution Account, if the local government is otherwise entitled to receive such a distribution, the local school support tax if the local government is a school district or any other property taxes, taxes on the net proceeds of minerals or grants to which the local government may otherwise be entitled as a distribution from the State. Upon receipt of such a request, the State Treasurer shall withhold the payment and all future payments until the State Treasurer is notified by the Executive Director that the report has been received by the Department, except that the State Treasurer shall not withhold any payment necessary for the local government to make a timely payment that is due and owing to a holder.  (Added to NRS by 1995, 1891; A 2001, 1421, 1814; 2003, 78; 2015, 725)
NV Rev Stat § 354.671 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.671 - Delinquent payments to Public Employees’ Benefits Program: Notification; explanation to Committee on Local Government Finance; withholding of payments.

  1. Upon receipt of notification by the Board of the Public Employees’ Benefits Program pursuant to NRS 287.0434 that a local government is delinquent by more than 90 days on an amount due to the Public Employees’ Benefits Program pursuant to paragraph (b) of subsection 4 of NRS 287.023, the Executive Director shall notify the governing body that the presence of a representative of the governing body is required at the next practicable scheduled meeting of the Committee to explain the reason that the payment has not been made. The notice must be transmitted to the governing body at least 5 days before the date on which the meeting will be held.  2. If an explanation satisfactory to the Committee is not provided at the meeting as requested in the notice and an arrangement is not made for the submission of the payment, the Committee may instruct the Executive Director to request that the State Treasurer withhold from the local government an amount equal to the amount of the delinquent payment from the next distribution from the Local Government Tax Distribution Account, if the local government is otherwise entitled to receive such a distribution, the local school support tax if the local government is a school district or any other property taxes, taxes on the net proceeds of minerals or grants to which the local government may otherwise be entitled as a distribution from the State. Upon receipt of such a request, the State Treasurer shall withhold that amount from the payment or any future payment as necessary until the State Treasurer is notified by the Executive Director that the delinquent payment has been received by the Department, except that the State Treasurer shall not withhold any payment necessary for the local government to make a timely payment that is due and owing to a holder. The Department shall transmit the delinquent payment to the Public Employees’ Benefits Program upon receipt.  (Added to NRS by 2007, 2882; A 2015, 726)
NV Rev Stat § 354.715 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.715 - Severe financial emergency: Enforcement of compliance by local government with certain requests of Department of Taxation; penalties for willful failure to comply with requests.

  1. If a local government or any officer or employee of the local government fails to comply with any request made by the Department pursuant to NRS 354.695, the Department may apply to the district court to compel compliance.  2. In any proceeding brought pursuant to subsection 1, the Department may seek a declaration by the district court that the failure to comply with the request of the Department was willful. A willful failure to comply by any:  (a) Officer of the local government works a forfeiture of his or her office.  (b) Employee of the local government is grounds for dismissal from his or her employment.  3. Any officer or employee of the local government who willfully fails to comply with any request made by the Department pursuant to NRS 354.695 is guilty of a gross misdemeanor.  (Added to NRS by 1995, 143; A 2015, 734)
NV Rev Stat § 354.721 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.721 - Severe financial emergency: Creation of Severe Financial Emergency Fund; investment and use of money in Fund; requirements relating to loans from Fund.

  1. The Severe Financial Emergency Fund is hereby created in the State Treasury as a revolving fund. The Executive Director shall administer the Fund.  2. The money in the Fund must be invested as other state funds are invested. Any interest and income earned on the money in the Fund must, after deducting any applicable charges, be credited to the Fund.  3. Money in the Severe Financial Emergency Fund may be:  (a) Distributed by the Executive Director as a loan to a local government for the purpose of paying the operating expenses and general obligations of the local government until the local government receives revenues if:  (1) The Department takes over the management of a local government pursuant to NRS 354.685 to 354.725, inclusive;  (2) The Executive Director determines that a loan from the Severe Financial Emergency Fund is necessary to pay the operating expenses and general obligations of the local government; and  (3) The local government adopts a resolution in which the local government agrees to:  (I) Use the money only for the purpose of paying the operating expenses and general obligations of the local government until the local government receives revenues; and  (II) Repay the entire amount of the loan, without any interest, to the Severe Financial Emergency Fund as soon as practicable, but not later than 24 months after the date on which the resolution is adopted.  (b) Used for any other purpose authorized by the Legislature.  4. A loan approved by the Executive Director must be repaid as soon as practicable by the local government, but the duration of the loan must not exceed 24 months after the date on which the loan was made. The Executive Director shall not charge interest on a loan made pursuant to this section.  5. The Executive Director shall report to the Committee on Local Government Finance and to the Nevada Tax Commission as soon as practicable after the date that the loan is approved concerning:  (a) The status of the loan;  (b) The purposes for which the local government will use the money from the loan; and  (c) The resources that the local government will use to repay the loan.  (Added to NRS by 1999, 1031; A 2010, 26th Special Session, 11; 2015, 734)
NV Rev Stat § 354.7235 (2021)
2021 Nevada Revised Statutes|Chapter 354 - Local Financial Administration|NRS 354.7235 - Severe financial emergency: Management of Department of Taxation ceases at time of disincorporation or dissolution.

The management of the Department ceases at the time of the disincorporation or dissolution of a local government pursuant to NRS 354.723.  (Added to NRS by 1999, 2537)