ELKO COUNTY, NEVADA JUNE 30, 2016...County, State of Nevada, as of June 30, 2016, and the respective changes in financial position, and, where applicable, cash flows thereof for the

ELKO COUNTY, NEVADA

JUNE 30, 2016

ELKO COUNTY

JUNE 30, 2016 TABLE OF CONTENTS

i

PAGE NO. FINANCIAL SECTION

Independent Auditor’s Report: On Financial Statements and Supplementary Data 1 - 2 Management’s Discussion and Analysis (Required Supplementary Information)

3a – 3j

Basic Financial Statements: Government-Wide Financial Statements:

Statement of Net Position 4 Statement of Activities 5

Fund Financial Statements:

Governmental Funds: Balance Sheet 6 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 7 Statement of Revenues, Expenditures, and Changes in Fund Balances 8 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of

Governmental Funds to the Statement of Activities

9 Proprietary Funds:

Statement of Fund Net Position 10 - 11 Statement of Revenues, Expenses, and Changes in Fund Net Position 12 Statement of Cash Flows 13 - 14

Fiduciary Funds:

Statement of Fiduciary Net Position 15 Statement of Changes in Fiduciary Net Position 16 Notes to Financial Statements 17 – 46 Required Supplementary Information:

Schedule of Funding Progress – Other Postemployment Benefits 47 Schedule of County’s Share of Net Pension Liability – Public Employee’s Retirement System of

Nevada (PERS) – Last Ten Fiscal Years

48 Schedule of County’s Contributions – Public Employee’s Retirement System of Nevada (PERS) –

Last Ten Fiscal Years

49 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget (Budgetary Basis) and

Actual:

General Fund 50 – 57 Reconciliation of the General Fund (Budgetary Basis) to the Statement of Revenues, Expenditures,

and Changes in Fund Balances - General Fund (GAAP Basis)

58 - 59 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual:

Major Special Revenue Funds: Regional Street and Highway Fund Road Construction Fund

60 61

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget (Budgetary Basis) and Actual:

Town of Jackpot General Fund

62 – 64

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Reconciliation of the Town of Jackpot General Fund (Budgetary Basis) to the Statement of Revenues, Expenditures, and Changes in Fund Balances – Town of Jackpot General Fund (GAAP Basis)

Notes to Required Supplementary Information

Supplementary Information:

65 66

Combining and Individual Non-major Fund Statements and Schedules:

Reconciliation of the General Fund (Budgetary Basis) to the General Fund (GAAP Basis) - Combining Balance Sheet

Reconciliation of the Town of Jackpot General Fund (Budgetary Basis) to the Town of Jackpot General Fund (GAAP Basis) - Combining Balance Sheet

Governmental Funds:

Major Governmental Funds: Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual:

General County Capital Projects Fund

67 - 68

69

70

Nonmajor Governmental Funds: Combining Balance Sheet 71 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 72

Nonmajor Special Revenue Funds:

Combining Balance Sheet 73 – 75 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 76 – 78

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual:

General County: Road Fund 79 Indigent Fund 80 Agricultural Extension Fund 81 Library Fund 82 Juvenile Probation Fund 83 – 84 Recreation Fund 85 Library Special Federal Fund 86 Senior Citizens Services Fund 87 County Jail Special Revenue Fund 88 Library Service Fund 89 Medical Assistance to Indigent Persons Fund 90 Forensic Services Fund 91 Seizure Forfeiture Fund 92 Abused Children Fund 93 Local Emergency Planning Commission Fund 94 Administrative Assessment Building Fund 95 Inmate Commissary Fund 96 Child Support Incentive Grant Fund 97 Recorder’s Technology Fund 98 District Court II Rural Drug Court Grant Fund 99 Assessor’s Technology Fund 100

Town of Jackpot: Recreation Fund 101 – 102

Town of Montello: General Fund 103

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Town of Mountain City: General Fund 104

Nonmajor Debt Service Fund:

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual: Debt Service Fund

105

Nonmajor Capital Projects Funds: Combining Balance Sheet 106 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 107 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual:

General County: County Ad Valorem Capital Projects Fund 108

Town of Jackpot: Capital Projects Fund 109 Public Safety Capital Projects Fund 110 Ad Valorem Capital Projects Fund 111

Town of Montello: Ad Valorem Capital Projects Fund 112

Town of Mountain City: Ad Valorem Capital Projects Fund

Internally Reported (Budgetary Basis) Funds Reported as part of the General County General Fund and Town of Jackpot General Fund for External Reporting Purposes:

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual – General County:

In Lieu of Taxes Trust Fund Northeastern Nevada Regional Railport Fund Interpretive Center Fund Unemployment Insurance Liability Reserve Fund Post Employment Benefit Fund Vacation Benefits Fund Bond Income Fund

Town of Jackpot: Unemployment Insurance Liability Reserve Fund

113

114 115 116 117 118 119 120

121

Enterprise Funds: Major Enterprise Funds:

Schedule of Revenues, Expenses, and Changes in Fund Net Position – Budget and Actual: Town of Jackpot – Sewer Fund 122 Town of Jackpot – Water Fund 123 General County – Elko Area Transportation System

124 General County - Elko Ambulance Fund 125

Nonmajor Enterprise Funds:

Combining Statement of Fund Net Position 126 Combining Statement of Revenues, Expenses and Changes in Fund Net Position 127 Combining Statement of Cash Flows 128 – 129 Schedule of Revenues, Expenses, and Changes in Fund Net Position - Budget and Actual:

General County: Tuscarora Water Enterprise Fund 130 Jarbidge Water Enterprise Fund 131 Solid Waste Fund 132

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Town of Jackpot: Waste Disposal Fund 133

Town of Montello: Water Fund 134 Sewer Fund 135

Internal Service Fund: Schedule of Fund Net Position – Group Health Insurance Fund 136

Schedule of Revenues, Expenses, and Changes in Fund Net Position – Budget and Actual – Group Health Insurance Fund

137

Fiduciary Funds:

Agency Funds: Combining Statement of Changes in Assets and Liabilities, All Agency Funds 138 – 139

SUPPLEMENTARY DATA:

Schedule No. 1 – Summary Schedule of Ending Cash and Investments 140 – 143 Schedule No. 2 – Schedule of Tuscarora Water Revenue Bond Requirements 144

COMPLIANCE SECTION:

Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards

145 – 146 Independent Auditor’s Report on Compliance for Each Major Program and Report on Internal Control

over Compliance Required by Uniform Guidance 147 – 148

Schedule of Expenditures of Federal Awards 149 – 151 Schedule of Findings and Questioned Costs 152 – 156 Corrective Action Plan for Audit Findings 157

Summary Schedule of Prior Audit Findings 158 AUDITOR’S COMMENTS:

Schedule of Fees Imposed Subject to the Provisions of NRS 354.5989 - Limitation of Fees for Business Licenses, Town of Mountain City

159

Current Year Statute Compliance 160 Progress on Prior Year Statute Compliance 160 Disposition of Prior Year Audit Recommendations 160 Current Year Audit Recommendations 160

SECONDARY DISCLOSURES FOR MUNICIPAL BOND ISSUES:

Total and Unfunded Accrued Liabilities, Public Employees’ Retirement System State of Nevada 161 Summary Schedule of Revenues, Expenditures, and Changes in Fund Balances – General Fund-

Budgetary Basis 162

Group Health Insurance Internal Service Fund 163 Secured Property Assessed Valuation 164 Secured Property Tax Levies, Collections and Delinquencies 165 Ten Largest Property Owners 166 Statewide Average and Overlapping Tax Rates 167 Statutory Debt Limitation 168 Outstanding Bonded Indebtedness 169 Annual General Obligation and Revenue Bonds Debt Service Requirements 170

FINANCIAL SECTION

1

INDEPENDENT AUDITOR’S REPORT

To the Honorable Board of Commissioners of Elko County, State of Nevada

Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Elko County, State of Nevada, as of and for the year ended June 30, 2016, and the related notes to the financial statements. We were not engaged to audit the financial statements of the aggregate discretely presented component unit. These financial statements collectively comprise the County’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. Because of the matter described in the “Basis for Disclaimer of Opinion on the Aggregate Discretely Presented Component Unit” paragraph, however, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the aggregate discretely presented component unit. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Basis for Disclaimer of Opinion on the Aggregate Discretely Presented Component Unit The financial statements of the Agricultural Association District No. 4 have not been audited, and we were not engaged to audit the Agricultural Association District No. 4’s financial statements as part of our audit of Elko County’s basic financial statements. The Agricultural Association District No. 4’s financial activities are included in Elko County’s basic financial statements as a discretely presented component unit and represent 100 percent of the assets, net position, and revenue, of the County’s discretely presented component unit. Disclaimer of Opinion Because of the significance of the matter described in the “Basis for Disclaimer of Opinion in the Aggregate Discretely Presented Component Unit” paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the financial statements of the aggregate discretely presented component unit of Elko County, State of Nevada. Accordingly, we do not express an opinion on these financial statements.


2

Unmodified Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Elko County, State of Nevada, as of June 30, 2016, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis on pages 3a through 3j, the Schedule of Funding Progress – Other Postemployment Benefits on page 47, the Schedule of County’s Share of Net Pension Liability Public Employee’s Retirement System of Nevada on page 48, the Schedule of County’s Contributions Public Employee’s Retirement System of Nevada on page 49, and the schedules of budgetary comparison and reconciliation information and related notes on pages 50 through 66 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the Management’s Discussion and Analysis, the Schedule of Funding Progress – Other Postemployment Benefits, the Schedule of County’s Share of Net Pension Liability Public Employee’s Retirement System of Nevada, the Schedule of County’s Contributions Public Employee’s Retirement System of Nevada, and the schedules of budgetary comparison and reconciliation information and the related notes in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming an opinion on the basic financial statements as a whole. The combining and individual nonmajor fund financial statements and schedules, Supplementary Data (Schedule No. 1 and 2), Schedule of Fees Imposed Subject to the Provisions of NRS 354.5989, and Secondary Disclosures for Municipal Bond Issues are presented for purposes of additional analysis and are not a required part of the basic financial statements. The Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. Because of the significance of the matter described above relating to the basis of a disclaimer of opinion on the Aggregate Discretely Presented Component Unit (Agricultural Association District No. 4) it is inappropriate to and we do not express an opinion on the supplementary information referred to above. Prior-Year Comparative Information Certain supplementary information and required supplementary information includes partial summarized comparative information for the year ending June 30, 2015. The summarized comparative information was derived from the County’s June 30, 2015 financial statements, which expressed unmodified opinions on the respective financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information, and a disclaimer of opinion on the Agricultural Association District No. 4. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated January 13, 2017, on our consideration of Elko County’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Elko County’s internal control over financial reporting and compliance.

Elko, Nevada January 13, 2017


ELKO COUNTY

MANAGEMENT’S DISCUSSION AND ANALYSIS JUNE 30, 2016

3a

The County of Elko’s (the “County”) discussion and analysis is designed to (a) assist the reader in focusing on significant financial issues, (b) provide an overview of the County’s financial activity, (c) identify changes in the County’s financial position (its ability to address the next and subsequent year challenges), (d) identify any material deviations from the financial plan (the approved budget), and (e) identify individual fund issues or concerns. The Management’s Discussion and Analysis (“MD&A”) is required as an element of the annual financial report by the Governmental Accounting Standards Board (GASB) and is designed to focus on the current year’s activities, resulting changes and currently known facts. Please read it and the County’s financial statements (beginning on page 4). FINANCIAL HIGHLIGHTS The assets of Elko County exceeded its liabilities at the close of the most recent fiscal year by $68.4 million (net position). The auditor’s report offers an unmodified opinion on the financial statements, the best opinion that can be attained except for the effects of the discretely presented component unit the Agricultural Association District No. 4. The County’s net position decreased by $1.5 million. The governmental net position decreased by $2.1 million primarily related to the recording of the net pension liability, deferred inflows and outflows related to pensions, and the business-type net position increased by $.65 million. This is the second year of the adoption of GASB Statement No 68, Accounting and Financial Reporting for Pensions and GASB No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. As of the close of the current fiscal year, Elko County’s governmental funds reported the combined ending fund balances of $24.4 million, a decrease of $1.9 million in comparison with the prior year. Approximately 33% of the total amount is available for spending at the government’s discretion. At the end of the current fiscal year unassigned fund balance for the general fund was $8,276,763, or 26% of total general fund expenditures. OVERVIEW OF THE FINANCIAL STATEMENTS The discussion and analysis are intended to serve as an introduction to Elko County’s basic financial statements. Elko County’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government-Wide Financial Statements The government-wide financial statements are designed to be corporate-like in that all governmental and business-type activities are consolidated into columns which add to a total for the Primary Government. The focus of the Statement of Net Position (the “Unrestricted Net position”) is designed to be similar to bottom line results for the County and its governmental and business-type activities. This statement, combines and consolidates governmental fund’s current financial resources (short-term spendable resources) with capital assets (including infrastructure) and long term obligations. Component Units, which are other governmental units over which the County can exercise influence and/or may be obligated to provide financial subsidy, are presented as a separate column in the government-wide statements. The focus of the statements are clearly on the Primary Government and the presentation allows the user to address the relative relationship with the Component Units. The Statement of Activities is focused on both the gross and net cost of various functions (including governmental, business-type and component unit) which are supported by the government’s general tax and other revenues. This is intended to summarize and simplify the user’s analysis of cost of various governmental services and or subsidy to various business-type activities and/or component unit. The Governmental Activities reflects the County’s basic services, on a functional basis. Departments included within those functions are identified in the General Fund Statement. Ad valorem, consolidated taxes and other identified general revenues


ELKO COUNTY


3b

support the majority of these services. The Business-type Activities reflect private sector type operations (Water, Wastewater, Ambulance, Transit Services and Solid Waste Management), where the fee for service typically covers all or most of the cost of operation, including depreciation. Fund Financial Statements Traditional users of governmental financial statements will find the Fund Financial Statements presentation more familiar. The focus is on Major Funds, rather than fund types. The Governmental Major Fund presentation is presented on a sources and uses of liquid resources basis. This is the manner in which the financial plan (the budget) is typically developed. The flow and availability of liquid resources is a clear and appropriate focus of any analysis of a government. Funds are established for various purposes and the Fund Financial Statements allow the demonstration of sources and uses and/or budgeting compliance associated therewith. The Fund Financial Statements also allow the government to address its Fiduciary (or Trust) Funds summarized by type. While these Funds represent trust responsibilities of the government, these assets are restricted in purpose and do not represent discretionary assets of the government. Therefore, these assets are not presented as part of the Government-Wide Financial Statements. While the Total column on the Business-type Fund Financial Statements may be the same as the Business-type column at the Government-Wide Financial Statement, the Governmental Major Funds Total column requires a reconciliation because of the different measurement focus (current financial resources versus total economic resources) which is reflected on the page following each statement. The flow of current financial resources will reflect bond proceeds and inter-fund transfers as other financing sources, as well as capital purchases and bond principal payments as expenditures. The reconciliation will eliminate these transactions and incorporate the capital assets and long-term obligation into the Governmental Activities column (in the Government-wide statements).


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The following table reflects a summary of net position compared to prior year:

Table 1 Summary of Net Position

As of June 30, 2016 and 2015

Governmental Activities

Business-type

Activities

Total

Primary Government 2016 2015 2016 2015 2016 2015 Current and other assets $32,510,245 $34,789,237 $ 3,831,650 $ 3,003,362 $36,341,895 $37,792,599 Capital assets 74,777,313 75,687,843 9,476,238 9,665,107 84,253,551 85,352,950 Total assets 107,287,558 110,477,080 13,307,888 12,668,469 120,595,446 123,145,549 Deferred outflows related

to pensions 8,761,125 5,584,134 291,885 186,040 9,053,010 5,770,174 Current and other liabilities 4,424,559

5,472,356

232,545

181,554

4,657,104

5,653,910

Long-term liabilites 47,871,464 41,567,479 3,245,146 3,081,734 51,116,610 44,649,213 Total liabilities 52,296,023 47,039,835 3,477,691 3,263,288 55,773,714 50,303,123 Deferred inflows related to pensions & insurance

premiums 5,353,506

8,525,495

166,728

284,032

5,520,234

8,809,527 Net position:

Invested in capital assets net of related debt 73,669,430

74,980,667

7,872,594

8,023,397

81,542,024

83,004,064

Restricted 12,589,180 12,738,530 30,293 32,657 12,619,473 12,771,187 Unrestricted (27,859,456) (27,223,313) 2,052,467 1,251,135 (25,806,989) (25,972,178) Total net position $58,399,154 $60,495,884 $9,955,354 $9,307,189 $68,354,508 $69,803,073

For more detailed information see the Statement of Net Position. Normal Impacts There are six basic (normal) transactions that will affect the comparability of the net position summary presentation. Net Results of Activities – which will impact (increase/decrease) current assets and unrestricted net position. Borrowing for Capital – which will increase current assets and long-term debt. Spending Borrowed Proceeds on New Capital – which will reduce current assets and increase capital assets. There is a second impact, an increase in capital assets and an increase in related net debt which will not change the net investment in capital assets investment. Principal Payment on Debt – which will (a) reduce current assets and reduce long-term debt and (b) reduce unrestricted net position and increase net investment in capital assets. Reduction of Capital Assets through Depreciation – which will reduce capital assets and invested in capital assets, net of debt.


REVENUESProgram Revenues:

Charges for services $ 6,448,009 $ 6,349,453 $ 3,666,768 $ 2,953,579 $ 10,114,777 $ 9,303,032 Operating grants

and contributions 2,140,176 1,995,329 818,760 605,419 2,958,936 2,600,748 Capital grants -

and contributions 922,747 243,177 206,685 123,005 1,129,432 366,182 General Revenues:

Ad valorem taxes 14,884,211 14,629,362 - - 14,884,211 14,629,362 Consolidated taxes 16,142,524 15,383,446 - - 16,142,524 15,383,446 Motor vehicle fuel taxes 5,222,896 5,186,031 - - 5,222,896 5,186,031 Other Taxes 4,222,843 3,633,417 - - 4,222,843 3,633,417 Investment income 241,721 281,235 18,324 15,047 260,045 296,282 Other general revenues 410,838 243,474 - 21 410,838 243,495

Total Revenues 50,635,965 47,944,924 4,710,537 3,697,071 55,346,502 51,641,995

EXPENSESProgram ActivitiesPrimary Government:

General government 9,667,978 9,610,696 - - 9,667,978 9,610,696 Judicial 12,576,450 12,153,627 - - 12,576,450 12,153,627 Public safety 15,763,806 15,162,319 - - 15,763,806 15,162,319 Public works 8,469,800 8,775,532 - - 8,469,800 8,775,532 Health 931,300 725,539 - - 931,300 725,539 Welfare 2,635,058 2,247,392 - - 2,635,058 2,247,392 Culture and recreation 2,178,736 2,202,228 - - 2,178,736 2,202,228 Community support 448,817 431,796 - - 448,817 431,796 Interest 750 3,488 - - 750 3,488

Business-type Activities:Water - - 619,359 635,633 619,359 635,633 Sewer - - 283,094 277,078 283,094 277,078 Ambulance - - 2,054,377 1,757,056 2,054,377 1,757,056 Transit Services - - 888,674 710,149 888,674 710,149 Solid Waste - - 276,868 243,493 276,868 243,493

Total Expenses 52,672,695 51,312,617 4,122,372 3,623,409 56,795,067 54,936,026

Excess (Deficiency) of revenuesover expenses before transfers (2,036,730) (3,367,693) 588,165 73,662 (1,448,565) (3,294,031)

Transfers (60,000) (25,849) 60,000 25,849 - -

Change in Net Position (2,096,730) (3,393,542) 648,165 99,511 (1,448,565) (3,294,031)

Net Position - Beginning of Year 60,495,884 63,889,426 9,307,189 9,207,678 69,803,073 73,097,104

Net Position - End of Year $ 58,399,154 $ 60,495,884 $ 9,955,354 $ 9,307,189 $ 68,354,508 $ 69,803,073

ELKO COUNTYMANAGEMENT'S DISCUSSION AND ANALYSIS

2015 2016 2015 2016

For the Year Ended June 30, 2016 and 2015

FOR THE YEAR ENDED JUNE 30, 2016

Table 2Summary of Changes in Net Position

Business-Type Activities Total Primary Government2016

3d

Governmental Activities2015


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3e

Total Revenues Total revenue increased from the prior year revenue by 8%. Total governmental activity revenue, excluding transfers, increased by 6% while total business-type activity revenues increased by 28%. The increase in business-type revenues is due to operating and capital grants awards during the year. General revenues, mainly comprised of taxes and sales tax, represent 75% of total revenue. Program revenues are revenues directly related to service activities of a function and include charges for services, grants and contributions, and related investment earnings, when restricted for use in programs. Total General Revenues General revenues were similar compared to the prior fiscal year. Investment earnings decreased due to a decrease in the national economy which have a direct impact based upon decisions made by the Federal Reserve Board. Also, County investments are written up or down to a fair value in accordance with GASB 72, Fair Value Measurement and Application. This fair value will fluctuate with the changes in interest rates. Program revenues Total program revenues related to specific functions provided an average of 25% of the resources necessary to pay costs of providing program services. The remaining program costs were financed from general revenues. The graphs on this and the following page demonstrate governmental and business-type program revenue expense coverage on a functional and segment basis.

Governmental Activities – Program Revenues and Expenses

Com

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uppo

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Wel

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Hea

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Publ

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and

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Inte

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Publ

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Judi

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Gen

eral

gov

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ent

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

Expenses Program revenue


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Business-type Activities – Program Revenues and Expenses

Business-type activity charges for services provided 89% of the resources to finance the operations. The value of capital contributions from developers for water and sewer infrastructure assets is included in program revenues for the Water and Wastewater Funds.

Total Revenue by Source – Governmental Activities

Governmental Activities: The two largest revenue sources for the County are ad valorem taxes and consolidated taxes, which comprise 61% of total revenues. Ad valorem taxes increased 1.8% from the prior year due to an increase in assessed value.

Solid

Was

te

Tran

sit

Wat

er

Sew

er

Am

bula

nce

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

Expenses Program revenue


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3g

Consolidated taxes increased 5% due to increased taxable sales related to the overall economic activity in Elko County. This economic activity is related to the mining industry located within the region. Investment income decreased due to County investments being written up or down to fair value. This fair value will fluctuate with the changes in interest rates. Elko County holds the majority of investments to maturity thereby reducing the market risk and receiving full interest earnings and investment value. Payment in Lieu of Taxes received from the Federal Government was reauthorized by Congress for fiscal year 2015-2016.

Total Revenues by Source – Business Type Activities

Business Type Activities: Charges for services increased by $714 thousand. These increases are related to Ambulance collection increases. Capital contributions consist of contributions from customers in the form of hookup fees and grant funds related to water and sewer construction projects and matching funds for Transit Services. Expenses Salaries and wages comprise approximately 32% of total expenses. Elko County has seven employee associations which negotiate periodically for salary adjustments related to merit. Employee benefits average approximately 29% of salaries and wages. Health insurance costs increased for the year due to the rising cost of medical inflation and claims costs. The merit increases also impacted employee benefit costs due to negotiated contractual increases.

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ELKO COUNTY


3h

Services and supplies comprise 59% of total expenses. Details regarding variances on a fund level are available in separate reports. Depreciation expense represents the cost of using capital assets over their estimated useful lives. This information is included in the various functions in order to more closely approximate the cost of providing services. More detail is provided in the footnotes to the financial statement. Interest/issuance cost expense includes interest and other fiscal charges paid on outstanding debt. Financial Analysis of Elko County Major Funds Elko County uses fund accounting and budgetary integration to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds: The focus of Elko County’s governmental funds is to provide information on current inflows, outflows, and balances of spendable resources. Such information is useful in assessing the County’s current funding requirements. In particular, unassigned fund balance may serve as a useful measure of net resources available for spending at the end of the fiscal year. As of the current fiscal year the County’s governmental funds reported combined ending fund balances of $24.4 million, a decrease of $1.9 million from the prior year. The General Fund is the primary operating fund of the County. At the end of the current fiscal year, fund balance of the General Fund was $11.9 million. As a measure of the General Fund’s liquidity, it may be useful to compare fund balance to total fund expenditures. Fund balance represents 37% of total fund expenditures. The fund balance of the General Fund decreased by $2.2 million. The key factor in this change is related to transfers to other funds. Town of Jackpot, General Fund is the primary operating fund of the Town of Jackpot Nevada. At the end of the current fiscal year, fund balance of the General Fund was $722 thousand. As a measure of the Town General Fund’s liquidity, it may be useful to compare fund balance to total fund expenditures. Fund balance represents 32% of total fund expenditures. General County Capital Projects Fund accounts for resources received from the General Fund and bond proceeds for the purpose of constructing capital projects as determined by the Board of County Commissioners. Elko County maintains a five year capital project plan (available upon request). All major projects started in prior years are completed. The Fund has a fund balance of $1.5 million. A transfer in from the In Lieu of Taxes Trust Fund (which is combined with the General Fund for GAAP reporting purposes) of $2 million was provided in FY2016. Regional Street and Highway Fund accounts for resources received from a locally assessed gas tax rate of 9 cents. The taxes collected are allocated to County, Cities and Towns within Elko County. The resources are utilized for road repair and construction. The Fund has a fund balance of $5.2 million. General County Road Construction Fund accounts for resources received from the motor vehical fuel tax of 1.25 cents. The resources received are utlized for road repair and construction projects on County roadways. The Fund has a fund balance of $68 thousand at year end. Proprietary Funds: The proprietary fund statements provide the same type of information found in the government-wide financial statements, but in more detail. The Town of Jackpot Sewer Fund was established for the purpose of accounting for the Town of Jackpot owned and operated sewer system. Unrestricted net position at the end of the year amounted to $317 thousand. The Town of Jackpot Water Fund was established for the purpose of accounting for the Town of Jackpot owned and operated water system. Unrestricted net position at the end of the year amounted to $955 thousand.


ELKO COUNTY


3i

The Elko Area Transportation System Fund was established for the purpose of accounting for an on demand public transportation system in the Elko area. It is funded with Federal Transportation grants and local funding. The Elko Ambulance Fund was established for the purpose of 911 operations of an emergency medical transport service in Elko County. Budgetary Highlights Functions represent the legal level of budgetary control. The final amended budget appropriations are greater than the original budget. The main factors of the increase in appropriations were related to receipt of State and Federal grant funds and additional ambulance receipts. Capital Assets and Debt Administration Capital Assets: The County’s investment in capital assets for its governmental and business-type activities as of June 30, 2016 amounts to $84.2 million (net of accumulated depreciation). This investment in capital assets includes land, buildings and improvements, machinery and equipment, construction in progress and infrastructure. The total decrease in the County’s investment in capital assets for the current fiscal year was 1.3%.

Table 4 Elko County Capital Assets

(Net of Depreciation)


Business-type Activities

Total

Land $ 5,550,514 $ 540 $ 5,551,054 Construction in progress 247,200 - 247,200 Buildings / improvements 60,141,600 15,699,128 75,840,728 Machinery and equipment 23,270,311 2,879,498 26,149,809 Infrastructure 66,412,318 170,287 66,582,605 Accumulated depreciation (80,844,630) (9,273,215) (90,117,845)

$ 74,777,313

$ 9,476,238

$ 84,253,551 Major additions for the current fiscal year for Elko County include the addition of the fiber optic network access, courthouse window replacement, twelve new Sheriff Department vehicles purchased through medium-term obligation debt, the purchase of a fire engine, Jackpot airport runway lighting project, and other infrastructure and equipment additions. The major projects were related to buildings, improvements and purchases of equipment. Additional information on the County’s capital assets can be found in Note 5.

Table 5 Elko County Outstanding Debt

General Obligation Bonds, Revenue Bonds, Leases and Notes


Business-type Activities

Total

General Obligation Revenue Backed $ - $ 1,603,644 $ 1,603,644 Commitment Payable 678,786 - 678,786 Notes Payable 429,097 - 429,097

$ 1,107,883

$ 1,603,644

$ 2,711,527


ELKO COUNTY


3j

State statute (NRS 244A.059) limits the amount of general obligation debt a government entity may issue to 10% of its total assessed valuation. The current limitation for Elko County is $200 million, which is significantly in excess of Elko County’s outstanding general obligation debt. Additional information on Elko County’s long- term debt can be found in Note 10 which is included in this report. Economic Factors The County’s primary revenue sources are ad valorem property taxes and consolidated taxes. Property taxes were consistent in the last fiscal year due to the mining economy within our region. The 2016 assessed valuation is $2 billion and has increased over the last year. At the same time the 2015 Legislative change to collection of net proceeds has reduced current resources in the net proceeds of mines revenue related to actual collections of the tax rather than prepayment. The County’s current operating tax rate is below the statutorily allowed rate. Consolidated tax consists of six different tax sources, the largest being city/county sales taxes. Gross taxable sales have been relativly flat in prior years and are now starting to slightly decrease. Projections for FY2017 indicate a slight increase in this revenue source. The Northeastern Nevada Railport industrial area is currently operating and has assisted in diversifying the economic base of Elko County by expanding the tax base and job availability for this region. Due to the budgetary constraints of the State of Nevada the 2011 Legislature required Elko County to provide fiscal support to multiple state services. The fiscal impact for FY2017 is approximately $1.8 million. These and other factors were taken into consideration in the preparation of the 2017 fiscal year budget. Elko County passed a one quarter of one percent sales tax increase to take effect on July 1, 2016 to fund fire equipment and county roads and for proprietary operations user rates to fund the operations will be addressed. Elko County may suffer economic decline related to the rules and regulations passed by the Federal Government related to Sage Grouse. Mining activity is expanding with the construction of Long Canyon Mine located in the Pequop Mountain located in Elko County. Requests for Information This report is designed to provide a general overview of Elko County’s finances for all interested parties. Questions concerning the information provided in this report or requests for additional financial information should be addressed to Cash A. Minor, Assistant County Manager / Chief Financial Officer, 540 Court Street, Elko, Nevada 89801. Questions concerning the information provided in this report or requests for additional financial information concerning the Agricultural Association District No. 4 component unit should be addressed to the District at P.O. Box 1167, Elko, Nevada 89803.


JUNE 30, 2016

COMPONENTUNIT

AGRICULTURALASSOCIATION

GOVERNMENTAL BUSINESS-TYPE DISTRICT NO. 4ACTIVITIES ACTIVITIES TOTAL (UNAUDITED)

ASSETSCash and investments $ 27,161,114 $ 2,450,405 $ 29,611,519 $ 59,970 Restricted cash - 42,021 42,021 - Interest receivable 70,246 - 70,246 - Accounts receivable 508,945 1,512,094 2,021,039 24,607 Taxes receivable, delinquent 97,676 - 97,676 28,383 Internal balances 423,719 (423,719) - - Due from other governments 4,248,545 211,182 4,459,727 102,853 Prepaid expenses - 39,667 39,667 14,796 Capital assets:

Land and construction in progress 5,797,714 540 5,798,254 - Other capital assets (net of accumulated depreciation) 68,979,599 9,475,698 78,455,297 495,510

Total Assets 107,287,558 13,307,888 120,595,446 726,119

DEFERRED OUTFLOWS OF RESOURCESDeferred outflows related to pensions 8,761,125 291,885 9,053,010 25,996

LIABILITIESAccounts payable 1,651,123 111,958 1,763,081 10,206 Accrued interest - 8,005 8,005 - Accrued liabilities 1,706,566 90,449 1,797,015 6,757 Due to other governments 418,640 5,244 423,884 19,097 Deposits - 11,728 11,728 - Unearned revenue 195,811 5,161 200,972 89,796 Funds held in trust 452,419 - 452,419 - Noncurrent liabilities

Net OPEB obligation 6,350,931 304,339 6,655,270 - Net Pension Liability 38,679,437 1,288,631 39,968,068 171,541 Due within one year 908,962 46,676 955,638 27,528 Due in more than one year 1,932,134 1,605,500 3,537,634 -

Total Liabilities 52,296,023 3,477,691 55,773,714 324,925

DEFERRED INFLOWS OF RESOURCESDeferred inflows related to insurance premiums 349,007 - 349,007 - Deferred inflows related to pensions 5,004,499 166,728 5,171,227 29,322

5,353,506 166,728 5,520,234 29,322

NET POSITIONNet investment in capital assets 73,669,430 7,872,594 81,542,024 467,982 Restricted for:

Towns 884,708 - 884,708 - Unemployment insurance reserve 309,675 - 309,675 - Indigent 75,689 - 75,689 - Road projects 5,873,746 - 5,873,746 - Self-insured group health insurance 3,085,694 - 3,085,694 - Assessor's Technology 632,798 - 632,798 - Public Safety 107,561 - 107,561 - Judicial 808,954 - 808,954 - Capital projects 625,855 - 625,855 - Other 184,500 - 184,500 - Debt service - 30,293 30,293 -

Unrestricted (deficit) (27,859,456) 2,052,467 (25,806,989) (70,114)

Total Net Position $ 58,399,154 $ 9,955,354 $ 68,354,508 $ 397,868

4

STATEMENT OF NET POSITIONELKO COUNTY

See accompanying notes.

PRIMARY GOVERNMENT

ELKO COUNTYSTATEMENT OF ACTIVITIES


PROGRAM REVENUES

OPERATING CAPITAL CHARGES FOR GRANTS AND GRANTS AND

FUNCTIONS/PROGRAMS EXPENSES SERVICES CONTRIBUTIONS CONTRIBUTIONSPrimary government:

Governmental activities:General government $ 9,667,978 $ 1,925,963 $ - $ 73,664 Judicial 12,576,450 958,808 1,282,250 - Public safety 15,763,806 3,183,900 485,845 28,500 Public works 8,469,800 153,925 142,271 820,583 Health 931,300 - - - Welfare 2,635,058 - 11,147 - Culture and recreation 2,178,736 225,413 106,849 - Community support 448,817 - 111,814 - Debt service: Interest on long-term debt 750 - - -

Total governmental activities 52,672,695 6,448,009 2,140,176 922,747

Business-type activities:Water 619,359 403,567 - 48,055 Sewer 283,094 255,597 - - Ambulance 2,054,377 2,766,197 - 154,097 Transit services 888,674 36,703 818,760 4,533 Solid waste 276,868 204,704 - -

Total business-type activities 4,122,372 3,666,768 818,760 206,685

Total primary government $ 56,795,067 $ 10,114,777 $ 2,958,936 $ 1,129,432

Component Unit - Agricultural District No. 4 (Unaudited) $ 1,037,777 $ 648,963 $ - $ -

GENERAL REVENUES AND TRANSFERS:General Revenues: Taxes

Ad valorem taxes Consolidated tax Motor vehicle fuel taxes Room tax Payments in lieu of taxes

Gaming licenses Investment earnings MiscellaneousTransfers

Total general revenues and transfers

Change in net position

NET POSITION - BEGINNING OF YEAR

NET POSITION - END OF YEAR

5

COMPONENTNET (EXPENSE) REVENUE AND UNIT

CHANGES IN NET POSITION AGRICULTURALPRIMARY GOVERNMENT ASSOCIATION

GOVERNMENTAL BUSINESS-TYPE DISTRICT NO. 4ACTIVITIES ACTIVITIES TOTAL (UNAUDITED)

$ (7,668,351) $ - $ (7,668,351) $ - (10,335,392) - (10,335,392) - (12,065,561) - (12,065,561) - (7,353,021) - (7,353,021) -

(931,300) - (931,300) - (2,623,911) - (2,623,911) - (1,846,474) - (1,846,474) -

(337,003) - (337,003) -

(750) - (750) -

(43,161,763) - (43,161,763) -

- (167,737) (167,737) - - (27,497) (27,497) - - 865,917 865,917 - - (28,678) (28,678) - - (72,164) (72,164) -

- 569,841 569,841 -

(43,161,763) 569,841 (42,591,922) -

(388,814) - (388,814) (388,814)

14,884,211 - 14,884,211 76,917 16,142,524 - 16,142,524 - 5,222,896 - 5,222,896 -

330,173 - 330,173 122,580 3,754,574 - 3,754,574 -

138,096 - 138,096 96,191 241,721 18,324 260,045 556 410,838 - 410,838 - (60,000) 60,000 - -

41,065,033 78,324 41,143,357 296,244

(2,096,730) 648,165 (1,448,565) (92,570)

60,495,884 9,307,189 69,803,073 490,438

$ 58,399,154 $ 9,955,354 $ 68,354,508 $ 397,868


REGIONAL STREET AND CONSTRUCTION

GENERAL HIGHWAY FUNDASSETS

Cash and investments $ 11,295,581 $ 4,975,663 $ 6,646 Restricted cash - - - Interest receivable 36,194 18,725 - Accounts receivable 281,638 - - Taxes receivable, delinquent 62,034 - - Due from other funds 440,000 - - Due from other governments 2,196,355 504,048 202,202

Total Assets $ 14,311,802 $ 5,498,436 $ 208,848

LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCESLiabilities:

Accounts payable $ 414,476 $ 104,258 $ 235 Accrued liabilities 1,288,224 - - Due to other funds - - 140,000 Due to other governments 128,182 180,824 - Unearned revenue - - - Funds held in trust 452,419 - -

Total Liabilities 2,283,301 285,082 140,235

Deferred Inflows of Resources:Unavailable revenue - grants - - - Unavailable revenue - delinquent property taxes 62,034 - -

Total Deferred Inflows of Resources 62,034 - -

Fund Balances:Restricted:

Towns - - - Capital projects - - - Road projects - 5,213,354 68,613 Indigent - - - Public safety - - - Judicial - - - Culture and recreation - - - Community support - - - Recorder's technology - - - Assessor's technology - - - Unemployment insurance reserve 307,768 - -

Committed:Northeastern Nevada Regional

Railport 278,434 - - Judicial - - - Culture and recreation - - -

Assigned:Subsequent year operations 1,697,997 - - Culture and recreation - - - Capital projects - - - Post employment benefits 1,245,575 - - Vacation benefits 159,930 - - Judicial - - -

Unassigned 8,276,763 - -

Total Fund Balances 11,966,467 5,213,354 68,613 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES

AND FUND BALANCES $ 14,311,802 $ 5,498,436 $ 208,848

ELKO COUNTYBALANCE SHEET

GOVERNMENTAL FUNDSJUNE 30, 2016


ROAD

FUND

6

TOTALGOVERNMENTAL

FUNDS

$ 517,204 $ 1,401,097 $ 4,974,221 $ 23,170,412 - - - - - 43 - 54,962 130 - 67,245 349,013

1,288 - 34,354 97,676 - 173,719 - 613,719

412,418 - 933,522 4,248,545

$ 931,040 $ 1,574,859 $ 6,009,342 $ 28,534,327

$ 7,362 $ 39,437 $ 354,138 $ 919,906 28,393 - 389,949 1,706,566

- - 50,000 190,000 - - 109,634 418,640 - - 195,811 195,811 - - - 452,419

35,755 39,437 1,099,532 3,883,342

171,910 - - 171,910 1,288 - 34,591 97,913

173,198 - 34,591 269,823

720,180 - 164,528 884,708 - - 625,855 625,855 - - 591,779 5,873,746 - - 75,689 75,689 - - 107,561 107,561 - - 808,954 808,954 - - 139,071 139,071 - - 25,746 25,746 - - 19,683 19,683 - - 632,798 632,798

1,907 - - 309,675

- - - 278,434 - - 355,459 355,459 - - 933,401 933,401

- - - 1,697,997 - - 335,047 335,047 - 1,535,422 - 1,535,422 - - - 1,245,575 - - - 159,930 - - 61,259 61,259 - - (1,611) 8,275,152

722,087 1,535,422 4,875,219 24,381,162

$ 931,040 $ 1,574,859 $ 6,009,342 $ 28,534,327

TOWN OF JACKPOTGOVERNMENTAL

FUNDGENERAL

FUNDSFUND

NONMAJORGENERAL COUNTY CAPITAL PROJECTS


ELKO COUNTYRECONCILIATION OF THE BALANCE SHEET

OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION JUNE 30, 2016

TOTAL FUND BALANCES FOR THE GOVERNMENTAL FUNDS AS SHOWN ON THE BALANCE SHEET $ 24,381,162

74,777,313

269,823

3,085,694

(47,871,464)

3,756,626

TOTAL NET POSITION FOR GOVERNMENTAL ACTIVITIES AS SHOWN ON THE STATEMENT OF NET POSITION $ 58,399,154


Capital assets used in governmental activities are not financial resources and, therefore, are not reportedin the governmental funds.

Deferred inflows of resources represents amount that are not available to fund current expenditures and,therefore, are not reported in the Governmental Funds.

An Internal Service Fund is used by management to charge the costs of the self-funded health insuranceprogram for County employees, dependents and retirees. The assets and liabilities of the InternalService Fund are included in Governmental Activities in the Statement of Net Position.

Certain liabilities are not reported in the governmental funds because they are not due and payable inthe current period:

Deferred outflows and inflows of resources related to pensions are applicable to future periods and,therefore, are not reported in the funds.

Commitment payable (678,786)

Compensated absences (1,733,213)

Medium term obligation payable (429,097)

7

Net pension liability (38,679,437)

Other postemployment benefits liability (6,350,931)

Deferred inflows of resources related to pensions8,761,125

(5,004,499)Deferred outflows of resources related to pensions

REGIONAL STREET AND

HIGHWAY FUNDREVENUES

Property Taxes $ 9,029,091 $ - $ - Other taxes - - - Licenses and permits 843,282 - - Intergovernmental resources 16,812,852 2,862,417 1,200,869 Charges for services 2,853,434 - - Fines and forfeits 1,305,899 - - Miscellaneous 988,798 35,345 1,387

Total Revenues 31,833,356 2,897,762 1,202,256

EXPENDITURESCurrent:

General government 7,349,397 - - Judicial 8,342,209 - - Public safety 14,025,783 - - Public works 1,264,831 2,276,596 66,662 Health 935,371 - - Welfare - - - Culture and recreation - - - Community support - - -

Capital outlay 59,249 120,787 - Debt service:

Paying agent fees - - - Principal - - -

Total Expenditures 31,976,840 2,397,383 66,662

Excess (Deficiency) ofRevenues Over (Under) Expenditures (143,484) 500,379 1,135,594

OTHER FINANCING SOURCES (USES)Proceeds from medium term obligation - - - Transfers in 241,843 - - Transfers out (2,341,500) - (1,300,000)

Total Other Financing Sources (Uses) (2,099,657) - (1,300,000)

Net Change in Fund Balances (2,243,141) 500,379 (164,406)

FUND BALANCES, July 1 14,209,608 4,712,975 233,019

FUND BALANCES, June 30 $ 11,966,467 $ 5,213,354 $ 68,613


8

GENERALCONSTRUCTION

FUND

ELKO COUNTYSTATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDSFOR THE YEAR ENDED JUNE 30, 2016

ROAD

NONMAJORGOVERNMENTAL

$ 156,340 $ - $ 5,139,400 $ 14,324,831 - - 330,173 330,173

182,867 - 3,256 1,029,405 2,030,800 73,664 5,933,802 28,914,404

- - 769,925 3,623,359 - - 51,224 1,357,123

3,483 - 33,623 1,062,636

2,373,490 73,664 12,261,403 50,641,931

207,284 308,184 693,775 8,558,640 - - 4,418,718 12,760,927

885,331 - 157,271 15,068,385 351,060 - 2,465,160 6,424,309

- - - 935,371 - - 2,647,612 2,647,612 - - 2,067,390 2,067,390 - - 448,817 448,817

838,688 1,339,854 1,611,425 3,970,003

- - 750 750 - 119,152 - 119,152

2,282,363 1,767,190 14,510,918 53,001,356

91,127 (1,693,526) (2,249,515) (2,359,425)

- 548,249 - 548,249 90,000 2,000,000 1,741,500 4,073,343

(250,000) - (241,843) (4,133,343)

(160,000) 2,548,249 1,499,657 488,249

(68,873) 854,723 (749,858) (1,871,176)

790,960 680,699 5,625,077 26,252,338

$ 722,087 $ 1,535,422 $ 4,875,219 $ 24,381,162

TOWN OF JACKPOTGENERAL

FUNDGOVERNMENTAL

FUNDS

FUNDS

TOTALCOUNTY CAPITALPROJECTS

FUND

GENERAL


ELKO COUNTYRECONCILIATION OF THE STATEMENT OF REVENUES,

EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDSTO THE STATEMENT OF ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2016

NET CHANGE IN FUND BALANCES FOR GOVERNMENTAL FUNDS AS SHOWN ON THESTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES $ (1,871,176)

(845,441)

(65,089)

30,623

(483,954)

(198,416)

260,351

County PERS contributionsCounty pension expense

1,076,372

CHANGES IN NET POSITION FOR GOVERNMENTAL ACTIVITIES $ (2,096,730)


9

Governmental fund report County PERS contributions as expenditures. However, in the Statement of Activities, the cost ofpension benefits earned is reported as pension expense:

5,916,466 (4,840,094)

Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets isallocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlaysexceeded depreciation in the current period.

The issuance of long-term debt (e.g., bonds, notes, leases) provides current financial resources to governmental funds, whilethe repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neithertransaction, however, has any effect on net assets. Also, governmental funds report the effect of premiums, discounts, andsimilar items when debt is first issued, whereas premiums and discounts are deferred and amortized in the statement ofactivities. This amount is the net effect of these differences in the treatment of long-term debt and related items.

Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in thefunds.

Disposition of capital assets.

Long-term liabilities are not due and payable in the current period, therefore they are not reported in governmental funds.This amount is related to the current year change in the annual required contribution for postemployment healthcare costs.

Internal service funds are used by management to charge the costs of the self-funded health insurance program for Countyemployees, dependents and retirees to individual funds.

ASSETSCurrent assets:

Cash and investments $ 344,296 $ 984,068 $ - Interest receivable - - - Accounts receivable 15,868 21,498 14,094 Prepaid expenses - - 39,667 Due from other funds - - - Due from other governments - - 191,857

Total Current Assets 360,164 1,005,566 245,618

Noncurrent assets:Restricted:

Cash restricted for customer deposits and connection fees 112 7,368 -

Cash restricted for future revenue bond retirement - 30,293 -

112 37,661 -

Capital assets, netLand and Construction in progress 540 - - Other capital assets (net of accumulated

depreciation) 3,569,188 2,309,199 46,592

Total Noncurrent Assets 3,569,840 2,346,860 46,592

Total Assets 3,930,004 3,352,426 292,210

DEFERRED OUTFLOWS OF RESOURCESDeferred outflows related to pensions 8,946 8,946 25,846

LIABILITIESCurrent liabilities:

Accounts payable 5,505 5,493 52,367 Accrued interest - 8,005 - Accrued liabilities 1,829 1,829 5,613 Compensated absences - - - Due to other governments - - 5,244 Customer deposits 112 7,368 - Unearned revenue - - - Due to other funds - - 173,719 Current maturities of revenue bonds payable - 30,885 -

Total Current Liabilities 7,446 53,580 236,943

Noncurrent liabilities:Compensated absences - - - Net OPEB obligation - - - Net pension liability 39,494 39,494 114,105 Revenue bond payable - 1,572,759 -

Total Noncurrent Liabilities 39,494 1,612,253 114,105

MAJOR FUND - TOWN OF

JACKPOT - SEWER

MAJOR FUND -

10


BUSINESS-TYPE ACTIVITIESMAJOR FUND -

JACKPOT - WATER TRANSPORTATION SYSTEM

JUNE 30, 2016PROPRIETARY FUNDS

STATEMENT OF FUND NET POSITIONELKO COUNTY

TOWN OF ELKO AREA

GOVERNMENTALTOTAL TOTAL ACTIVITIES -

NONMAJOR ENTERPRISE INTERNALFUNDS FUNDS SERVICE FUND

$ 388,710 $ 733,331 $ 2,450,405 $ 3,990,702 - - - 15,284

1,438,214 22,420 1,512,094 159,932 - - 39,667 - - - - - - 19,325 211,182 -

1,826,924 775,076 4,213,348 4,165,918

- 4,248 11,728 -

- - 30,293 -

- 4,248 42,021 -

- - 540 -

534,527 3,016,192 9,475,698 -

534,527 3,020,440 9,518,259 -

2,361,451 3,795,516 13,731,607 4,165,918

239,201 8,946 291,885 -

27,906 20,687 111,958 731,217 - - 8,005 -

78,805 2,373 90,449 - 15,791 - 15,791 -

- - 5,244 - - 4,248 11,728 -

4,623 538 5,161 - 250,000 - 423,719 -

- - 30,885 -

377,125 27,846 702,940 731,217

32,741 - 32,741 - 304,339 - 304,339 -

1,056,044 39,494 1,288,631 - - - 1,572,759 -

1,393,124 39,494 3,198,470 -

ELKO AMBULANCE

MAJOR FUND -

Total Liabilities 46,940 1,665,833 351,048

DEFERRED INFLOWS OF RESOURCESDeferred inflows related to insurance premiums - - - Deferred inflows related to pensions 5,110 5,110 14,763

5,110 5,110 14,763

NET POSITIONNet investment in capital assets 3,569,728 705,555 46,592 Restricted for group health insurance claims - - - Restricted for debt service - 30,293 - Unrestricted (deficit) 317,172 954,581 (94,347)

TOTAL NET POSITION (DEFICIT) $ 3,886,900 $ 1,690,429 $ (47,755)

ELKO COUNTYSTATEMENT OF FUND NET POSITION

PROPRIETARY FUNDSJUNE 30, 2016

BUSINESS-TYPE ACTIVITIESMAJOR FUND - MAJOR FUND - MAJOR FUND -

JACKPOT - SEWER JACKPOT - WATER TRANSPORTATION SYSTEM


11

TOWN OF TOWN OF ELKO AREA

GOVERNMENTALTOTAL TOTAL ACTIVITIES -

NONMAJOR ENTERPRISE INTERNALFUNDS FUNDS SERVICE FUND

1,770,249 67,340 3,901,410 731,217

- - - 349,007 136,635 5,110 166,728 -

136,635 5,110 166,728 349,007

534,527 3,016,192 7,872,594 - - - - 3,085,694 - - 30,293 -

159,241 715,820 2,052,467 -

$ 693,768 $ 3,732,012 $ 9,955,354 $ 3,085,694

MAJOR FUND - ELKO

AMBULANCE

OPERATING REVENUESCharges for services $ 234,027 $ 310,256 $ 36,703 Miscellaneous - - 197,874

Total Operating Revenues 234,027 310,256 234,577

OPERATING EXPENSESSalaries and wages 21,739 21,379 63,610 Employee benefits 9,615 9,615 28,636 Services and supplies 76,616 108,927 787,600 Depreciation 154,570 156,628 8,828

Total Operating Expenses 262,540 296,549 888,674

Operating Income (Loss) (28,513) 13,707 (654,097)

NONOPERATING REVENUES (EXPENSES)Investment earnings 2,634 7,129 - Grants - - 625,419 Interest expense - (39,584) -

Total Nonoperating Revenues (Expenses) 2,634 (32,455) 625,419

Income (Loss) Before Capital Contributions and Transfers (25,879) (18,748) (28,678)

CAPITAL CONTRIBUTIONS - - - TRANSFERS IN - - 100,000 TRANSFERS OUT (30,000) (30,000) -

Total Capital Contributions and Transfers (30,000) (30,000) 100,000

Change in Net Position (55,879) (48,748) 71,322

TOTAL NET POSITION (DEFICIT), July 1 3,942,779 1,739,177 (119,077)

TOTAL NET POSITION (DEFICIT), June 30 $ 3,886,900 $ 1,690,429 $ (47,755)

12

BUSINESS-TYPE ACTIVITIES


ELKO COUNTY

JACKPOT - SEWERTOWN OF

TRANSPORTATION SYSTEMELKO AREA

MAJOR FUND -

JACKPOT - WATER

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITIONPROPRIETARY FUNDS


MAJOR FUND - MAJOR FUND - TOWN OF

$ 2,766,197 $ 319,585 $ 3,666,768 $ 5,404,615 - - 197,874 -

2,766,197 319,585 3,864,642 5,404,615

1,145,330 32,179 1,284,237 - 320,802 10,814 379,482 5,096,787 535,329 259,568 1,768,040 81,369

52,916 277,705 650,647 -

2,054,377 580,266 4,082,406 5,178,156

711,820 (260,681) (217,764) 226,459

2,727 5,834 18,324 33,892 - 47,968 673,387 - - (382) (39,966) -

2,727 53,420 651,745 33,892

714,547 (207,261) 433,981 260,351

154,097 87 154,184 - - 50,000 150,000 - - (30,000) (90,000) -

154,097 20,087 214,184 -

868,644 (187,174) 648,165 260,351

(174,876) 3,919,186 9,307,189 2,825,343

$ 693,768 $ 3,732,012 $ 9,955,354 $ 3,085,694

ELKO AMBULANCE

MAJOR FUND - GOVERNMENTAL

TOTAL

SERVICE FUND

TOTAL ACTIVITIESENTERPRISE INTERNALNONMAJOR

FUNDSFUNDS

CASH FLOWS FROM OPERATING ACTIVITIES:Cash received from customers $ 237,670 $ 318,850 $ 25,550 Cash received from miscellaneous sources - - 158,207 Cash received from group insurance premiums - - - Cash payments to suppliers for goods and services (71,464) (111,870) (780,935) Cash payments to employees for services and benefits (32,300) (31,940) (94,518)

Net Cash Provided (Used) by Operating Activities 133,906 175,040 (691,696)

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES:Proceeds from operating grants - - 513,974 Advances to/from other funds - - 64,242 Transfers in/out (30,000) (30,000) 100,000

Net Cash Provided (Used) by Non-Capital Financing (30,000) (30,000) 678,216 Activities

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Principal payments on debt - (30,276) - Interest payments on debt - (32,402) - Proceeds from capital grants - - - Capital contributed - City of Wells transfer station - - - Acquisition of capital assets (112,705) (14,260) (21,420)

Net Cash Provided (Used) by Capital and RelatedFinancing Activities (112,705) (76,938) (21,420)

CASH FLOWS FROM INVESTING ACTIVITIES:Investment earnings 2,634 7,129 -

Net Cash Provided (Used) by Investing Activities 2,634 7,129 -

Net Increase (Decrease) in Cash and Cash Equivalents (6,165) 75,231 (34,900)

CASH AND CASH EQUIVALENTS, July 1 350,573 946,498 34,900

CASH AND CASH EQUIVALENTS, June 30 $ 344,408 $ 1,021,729 $ -

CASH AND CASH EQUIVALENTS CONSISTS OF THE FOLLOWING:

Unrestricted cash and cash equivalents $ 344,296 $ 984,068 $ - Restricted cash and cash equivalents 112 37,661 -

Total Cash and Cash Equivalents $ 344,408 $ 1,021,729 $ -

BUSINESS-TYPE ACTIVITIES MAJOR FUND -

TOWN OF

ELKO COUNTY

PROPRIETARY FUNDSFOR THE YEAR ENDED JUNE 30, 2016

(Page 1 of 2)

STATEMENT OF CASH FLOWS

JACKPOT - WATER

MAJOR FUND - TOWN OF

JACKPOT - SEWER TRANSPORTATION SYSTEMELKO AREA

MAJOR FUND -

13

$ 2,795,819 $ 317,915 $ 3,695,804 $ - - - 158,207 - - - - 5,449,306

(530,106) (249,829) (1,744,204) (81,369) (1,467,256) (43,911) (1,669,925) (4,786,310)

798,457 24,175 439,882 581,627

- - 513,974 - (412,474) (5,000) (353,232) -

- 20,000 60,000 -

(412,474) 15,000 220,742 -

- (7,791) (38,067) - - (382) (32,784) - - 29,393 29,393 - - 87 87 - - (159,295) (307,680) -

- (137,988) (349,051) -

2,727 5,834 18,324 32,823

2,727 5,834 18,324 32,823

388,710 (92,979) 329,897 614,450

- 830,558 2,162,529 3,376,252

$ 388,710 $ 737,579 $ 2,492,426 $ 3,990,702

$ 388,710 $ 733,331 $ 2,450,405 $ 3,990,702 - 4,248 42,021 -

$ 388,710 $ 737,579 $ 2,492,426 $ 3,990,702

FUNDSNONMAJOR ELKO

AMBULANCE

TOTALMAJOR FUND - GOVERNMENTAL

FUNDS SERVICE FUND

ACTIVITIES - INTERNALENTERPRISE

TOTAL

RECONCILIATION OF OPERATING INCOME(LOSS) TO NET CASH PROVIDED (USED)BY OPERATING ACTIVITIES:

Operating income (loss) $ (28,513) $ 13,707 $ (654,097) Pension expense 4,899 4,899 14,153 County pension contributions (5,998) (5,998) (17,329) Adjustments to reconcile operating income (loss) to

net cash provided (used) by operating activities:Depreciation 154,570 156,628 8,828 (Increase) decrease in:

Accounts receivable 3,643 4,086 (11,153) Prepaid expenses - - (39,667)

Increase (decrease) in:Accounts payable 5,152 (2,943) 1,421 Accrued liabilities 153 153 904 Net OPEB liability - - - Due to other governments - - 5,244 Deferred inflows of resources - - - Customer deposits - 4,508 -

Net Cash Provided (Used) byOperating Activities $ 133,906 $ 175,040 $ (691,696)

NONCASH INVESTING, CAPITAL, ANDFINANCING ACTIVITIES:

Capital assets received through donation $ - $ - $ -

14


BUSINESS-TYPE ACTIVITIES

ELKO COUNTYSTATEMENT OF CASH FLOWS

PROPRIETARY FUNDSFOR THE YEAR ENDED JUNE 30, 2016

(Page 2 of 2)

TOWN OF TOWN OF MAJOR FUND - MAJOR FUND -

ELKO AREAJACKPOT - SEWER

MAJOR FUND -

JACKPOT - WATER TRANSPORTATION SYSTEM

$ 711,820 $ (260,681) $ (217,764) $ 226,459 130,986 4,899 159,836 -

(160,374) (5,998) (195,697) -

52,916 277,706 650,648 -

29,622 (1,670) 24,528 44,691 - - (39,667) -

5,223 10,545 19,398 (38,530) 16,968 181 18,359 - 11,296 - 11,296 -

- (807) 4,437 - - - - 349,007 - - 4,508 -

$ 798,457 $ 24,175 $ 439,882 $ 581,627

$ 154,097 $ - $ 154,097 $ -

ELKOFUNDS

ENTERPRISE

GOVERNMENTALTOTAL

SERVICE FUNDINTERNAL

TOTAL ACTIVITIES -

FUNDSNONMAJOR

AMBULANCE

MAJOR FUND -

JUNE 30, 2016

AGENCYFUNDS

ASSETSCash $ 31,714,713 $ 1,597,859

LIABILITIESDue to other governments and organizations - 1,597,859

NET POSITIONHeld in Trust for Pool Participants $ 31,714,713 $ -

15

ELKO COUNTY

FIDUCIARY FUNDSSTATEMENT OF FIDUCIARY NET POSITION


TRUST FUNDINVESTMENT

ADDITIONSInvestment earnings $ 463,815 Net change in fair value of investments 83,755

Capital Share Transactions (10,387,985)

Change in net position (9,840,415)

NET POSITION, July 1 41,555,128

NET POSITION, June 30, $ 31,714,713

16


ELKO COUNTYSTATEMENT OF CHANGES IN FIDUCIARY NET POSITION

FIDUCIARY FUNDSFOR THE YEAR ENDED JUNE 30, 2016

INVESTMENT TRUST FUND

ELKO COUNTY NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2016

17

1. - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

The financial statements of Elko County (the “County”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as applied to government units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. A summary of the more significant accounting policies consistently applied in the preparation of the accompanying financial statements follows.

REPORTING ENTITY:

The County is a municipal corporation governed by a five member Board of County Commissioners. As required by generally accepted accounting principles, these financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Blended component units, although legally separate entities, are in substance, part of the governments’ operations, and so, data from these units are combined with data of the primary government. The discretely presented component unit, on the other hand, is reported in a separate column in the combined financial statements to emphasize it is legally separate from the government. Each blended and discretely presented component unit has a June 30, year end. Blended Component Units: The Board of County Commissioners, by statute, act as the governing board for the unincorporated towns of Jackpot, Montello, Jarbidge and Mountain City and management of Elko County has operational responsibility for these entities. Their financial activity is included in this reporting entity. Discretely Presented Component Unit: Agricultural Association District No. 4 is responsible for the improvement of the material industries associated with agriculture. The members of the District's governing board are appointed by Elko County Board of Commissioners. The District is fiscally dependent upon the government because the government’s Board of Commissioners influences operations, budgeting and has the ability to remove appointed officials. The District is a discretely presented component unit. Complete financial statements of the component unit may be obtained at the entity’s administrative offices, Agricultural Association District No. 4, P.O. Box 1167, Elko, Nevada 89803. The District is exempt under State of Nevada statute for an audit.

ACCOUNTING CHANGES: As of July 1, 2015, the County adopted GASB Statement No. 72, Fair Value Measurement and Application. The implementation of this standard requires governments measure investments at fair value. The additional disclosures required by this standard are included in Note 4.

GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS:

The government-wide financial statements report information on all of the nonfiduciary activities of the primary government. Eliminations have been made to minimize the double-counting of internal activities. Services provided by the General Fund to other funds are reported as expenditures or expenses, as appropriate, in the funds receiving the services and as reductions of expenditures in the General Fund. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expenses of a function or business-type activity are offset by program revenues. Direct expenses are those that are associated with a specific function or business-type activity.


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Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or business-type activity and 2) grants, contributions and interest income that are restricted to meeting the operational or capital requirements of a particular function or business-type activity. Taxes and other items not properly included among program revenues are reported instead as general revenues.

The fund financial statements provide information about the County’s funds, including its fiduciary

funds. Separate statements for each fund category – governmental, proprietary and fiduciary – are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.

Proprietary fund operating revenues, such as charges for services and operating expenses, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings and nonoperating expenses result from nonexchange transactions or ancillary activities.

MEASUREMENT FOCUS, BASIS OF ACCOUNTING AND FINANCIAL STATEMENT PRESENTATION:

The government-wide financial statements are reported using the economic resources measurement

focus, and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues are recorded when earned and expenses are recorded when liabilities are incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenues as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be measurable when the amount of the transaction can be determined and available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when liabilities are incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, other post employment benefits and claims and judgments, are recorded only when payment is due. Property taxes, consolidated tax revenue (sales taxes, cigarette taxes, motor vehicle privilege taxes, liquor taxes), gaming taxes, gasoline taxes and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Licenses and permits, franchise fees, charges for services and fines and forfeits are not susceptible to accrual because generally they are not measurable until received in cash. All other revenue items are considered to be measurable and available only when cash is received by the government. The County reports deferred inflows of resources in the fund financial statements balance sheets. Deferred inflows of resources arise when potential revenue does not meet both the measurable and available criteria for recognition in the current period. Unearned revenues also arise when resources are received by the government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the government has a legal claim to the resources, the liability for deferred inflows of resources is removed from the balance sheet and revenue is recognized.


JUNE 30, 2016

19

Expenses relating to the functional activities include allocated indirect expenses.

The County reports the following major governmental funds:

The General Fund is the primary operating fund of the County. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

The Regional Street and Highway Fund is used to account for the proceeds from gas taxes to fund regional road projects.

The Road Construction Fund is used to account for the proceeds from gas taxes and grants to fund road projects.

The Town of Jackpot – General Fund is the primary operating fund of the Town. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

The General County Capital Projects Fund is used to account for the acquisition and construction of major capital facilities other than those financed by proprietary funds.

The County reports the following major enterprise funds:

The Town of Jackpot – Sewer Fund accounts for the provision of sanitary sewer services to the residents of the Town of Jackpot. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt services, and billing and collection.

The Town of Jackpot – Water Fund accounts for the provision of water services to the residents of the Town of Jackpot. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt services, and billing and collection.

The Elko Area Transportation System Fund accounts for the Elko Area Transportation System. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, grant administration, operations, and maintenance.

The Elko Ambulance Fund accounts for the provision of ambulance services to the residents of Elko County. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt services, and billing and collection.

Additionally, the County reports the following fund types:

Internal Service Fund accounts for operations of providing health insurance to other departments on a cost-reimbursement basis.

Agency Funds are custodial in nature and do not present results of operations or have a measurement focus. Agency funds are accounted for using the accrual basis of accounting. These funds are used to account for assets that the County holds for others in an agency capacity.

Investment Trust Fund is the external investment pool administered by Elko County. Involuntary participants include the Elko County School District.


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CASH, CASH EQUIVALENTS AND INVESTMENTS:

The County’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk in changes of value. Cash balances from all funds are combined and, to the extent practicable, invested by the County administration as permitted by law. Investments are recorded at fair value. The County maintains pooled operating and investment accounts to facilitate efficient management of County resources unless cash is restricted and required to be maintained separately or is held by other custodians on behalf of the County such as imprest bank and petty cash accounts. All interest earned on these investments is recognized in the General Fund, except for amounts credited to certain other funds in accordance with law, contract and County policy. State statutes authorize the County to invest in obligations of the U.S. Treasury; certain farm loan bonds; certain securities issued by Nevada local governments and other state and local governments; certain obligations of an Agency of the United States or a corporation sponsored by the government; certain repurchase agreements; certain bankers acceptances; certain commercial paper; and certain negotiable certificates of deposits and money market mutual funds. The following investments are allowed but must not exceed 20% of the total portfolio at the purchase date and 25% of such investments may not be in notes, bonds or unconditional obligations issued by any one corporation:

• Certain notes, bonds and other unconditional obligations for the payment of money issued by corporations organized and operating in the United States.

• Collateralized mortgage obligations “AAA” rated. • Asset-backed securities “AAA” rated.

Pursuant to NRS 355.167, Elko County may also invest in the Local Government Pooled Investment Fund administered by the State Treasurer. Investment in the Local Government Investment Pool and other investment types are carried at fair value, which is the same as the value of the pool shares. The Local Government Pooled Investment Fund is an external investment pool administered by the Treasurer of the State of Nevada, with oversight provided by the Board of Finance.

RECEIVABLES AND PAYABLES:

Transactions between funds that are representative of lending/borrowing arrangements outstanding at the

end of the fiscal year are referred to as “due to/from other funds” (i.e., the current portion of interfund loans). All such balances within the governmental activities or business-type activities are eliminated in the government-wide statements. Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as “internal balances.” No allowance for doubtful accounts receivable has been established since management does not anticipate any material collection loss with respect to the balances shown as accounts receivable, except for the Elko Ambulance Fund accounts receivable is shown net of the provision for doubtful accounts. Total ambulance receivables of $1,438,214 are reported at $1,859,103, net of a $420,889 allowance.

TAXES RECEIVABLE, DELINQUENT:

Secured roll property taxes receivable reflect only those taxes receivable from the delinquent roll years.

Delinquent taxes from all roll years prior to 2013-2014 have been written off. No provision for uncollectible accounts has been established since management does not anticipate any material collection loss in respect to the remaining balances.


JUNE 30, 2016

21

Personal property taxes, gas, oil and geothermal lease receivables reflect only those taxes collected within 60 days of year end. Delinquent taxes from all other prior years have been written off.

PROPERTY TAXES:

All real property in Elko County is assigned a parcel number in accordance with state law, with each parcel being subject to physical reappraisal every five years. A factoring system is used to adjust the appraised value during the years between physical appraisals. The valuation of the property and its improvements is being assessed at 35% of "taxable value" as defined by statute. The amount of tax levied is developed by multiplying the assessed value by the tax rate applicable to the area in which the property is located. The maximum tax rate was established in the State Constitution at $5.00 per hundred dollars of assessed valuation; however, as a result of legislation, the tax rate has been further limited to $3.64 per hundred dollars of assessed value except in cases of severe financial emergency as defined in NRS 354.705. In 2005 the Nevada State Legislature passed Assembly Bill 489 which provides for a partial abatement of the ad valorem taxes levied on qualified property. For qualified property, the abatement will limit the increase of property taxes based on the previous year’s assessed value.

Taxes on real property are a lien on the property and attach on July 1 of the year for which the taxes are levied. Taxes on property are due on the third Monday in August; however, they may be paid in four installments payable on the third Monday in August, and the first Mondays in October, January and March. Penalties are assessed if a taxpayer fails to pay an installment within ten days of the installment due date. After a two year waiting period, a tax deed is issued conveying the property to the County with a lien for back taxes and accumulated charges. Redemption may be made by the owner and such persons as described by statute by paying all back taxes and accumulated penalties, interest and costs before sale. Taxes on personal property are collected currently. Personal property declarations are mailed out annually and the tax is computed using percentages of taxable values established by the Department of Taxation and tax rates described above. The major classifications of personal property are commercial and mobile homes.

NET PROCEEDS OF MINES:

The County receives net proceed of mine taxes through the State of Nevada that is then apportioned by the County. Each year the County receives a final distribution in August or September for the prior year and the amount received within 60 days after the end of the year is then recognized as taxes receivable and as revenue. Final installment amounts received more than 60 days after year end are recorded as revenue in the year received rather than the previous year.

CAPITAL ASSETS:

Capital assets are reported in the applicable governmental or business-type activities column in the

government-wide financial statements. Capital assets are defined as those assets with an initial cost of $5,000 or more and an estimated useful life of more than one year. All purchased capital assets are valued at cost or estimated historical costs. Donated assets are recorded at their estimated fair value on the date donated. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized.


JUNE 30, 2016

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Capital assets are recorded at cost including capitalized interest incurred during the construction phase on debt-financed projects for business-type activities. Depreciation is computed using the straight-line method for all assets over the following estimated useful lives:

Buildings 50 to 130 years Improvements other than buildings 10 to 50 years Machinery and equipment 5 to 50 years Infrastructure 20 to 50 years COMPENSATED ABSENCES:

The liability for compensated absences is calculated under the provisions of GASB Statement No. 16,

Accounting for Compensated Absences. All vacation time, sick leave benefits and compensatory time costs are accrued and recognized as expenses when earned, to the extent it is likely the County will ultimately pay those benefits. The costs of unused vacation and sick leave are not recorded in the governmental fund financial statements but are in the government-wide and proprietary fund financial statements.

LONG-TERM DEBT:

In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities and business-type activities column in the statement of net position. Bond premiums and discounts, are deferred and amortized over the life of the bonds using the straight-line method. For current and advance refundings resulting in defeasance of debt, the difference between the reacquisition price and the net carrying amount of the old debt is reported as a deferred outflow/(inflow) of resources as appropriate and amortized as a component of interest expense using the straight-line method. Bonds payable are reported net of the applicable bond premium or discount. For governmental fund types, bond premiums and discounts, as well as issuance costs, are recognized during the current period. The face amount of bonds issued is reported as other financing sources, as are bond premiums. Bond discounts are recorded as other financing uses. Issuance costs, even if withheld from the actual net proceeds received, are reported as debt service expenditures.

UNEMPLOYMENT INSURANCE:

The County and its unincorporated towns have elected to adopt the "reimbursement method" of

providing for unemployment benefits to its eligible employees. Under this self-insurance method, the employer must reimburse the State of Nevada Employment Security Department for all paid claims which are attributable to former employees. In conjunction with the foregoing, the "Unemployment Insurance Liability Reserve Funds" for the County of Elko and the Town of Jackpot were created to reserve the accumulation of monies necessary to defray anticipated claims.

EQUITY CLASSIFICATIONS:

In the government-wide statements, equity is classified as net assets and displayed in three components:

a. Net Investment in Capital Assets – Consists of capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets.

b. Restricted Net Position – Consists of net position with constraints placed on its use either by (1) external groups such as creditors, grantors, contributors, or law or regulations of other governments; (2) law through constitutional provisions or enabling legislation.

c. Unrestricted Net Position – All other net position that does not meet the definition of “restricted” or “net investment in capital assets.”


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In the governmental fund financial statements, fund equity is classified as fund balance. Elko County implemented Governmental Accounting Standards Board (GASB) Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, as of July 1, 2010. Fund balance components are based primarily on a hierarchy designed to reflect constraints on the use of those amounts. Fund balance is further classified in the following components:

a. Nonspendable – Amounts that cannot be spent because they are not spendable in form or are legally or contractually required to be maintained intact.

b. Restricted – Amounts that can be spent only for specific purposes because of constitutional provisions, enabling legislation, or because of constraints that are externally imposed by creditors, grantors, contributors, or the law or regulations of other governments.

c. Committed – Amounts that can only be used for specific purposes. Committed fund balance is established and may only be rescinded or changed pursuant to formal action (in the form of a resolution) by the Elko County Board of Commissioners, which is Elko County’s highest level of decision-making authority.

d. Assigned – Amounts that the County intends to use for a specific purpose that do not meet the definition of restricted or committed fund balance. Under the County’s adopted policy, amounts may be assigned by the Assistant County Manager/ Chief Financial Officer. Any funds assigned must be reported to the Board of Commissioners at their next regular meeting.

e. Unassigned – Represents the residual classification for the General Fund or deficit fund balances in other funds.

The Commission has adopted a policy to maintain a minimum level of unrestricted fund balance for the General Fund of not less than 5% or more than 15% of total budgeted expenditures. An inability to meet this requirement must be approved by the Board of County Commissioners.

When an expenditure is incurred for purposes for which both restricted and unrestricted resources are

available, the County considers restricted funds to have been spent first. When an expenditure is incurred for which committed, assigned, or unassigned amounts are available, the County considers amounts to have been spend first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the Board of Commissioners has provided otherwise in its commitment or assignment actions.

PENSIONS:

For purposes of measuring the net pension liability and pension expense, information about the fiduciary net position of the Public Employees’ Retirement System of the State of Nevada (PERS) Base Plan (Base Plan) and additions to/deduction from Base Plan’s fiduciary net position have been determined on the same basis as they are reported by the Base Plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

DEFERRED INFLOWS AND OUTFLOWS OF RESOURCES:

In addition to assets, the Statement of Net Position/Governmental Funds Balance Sheet may report a separate section for deferred outflows of resources. This separate statement element represents the consumption of net position/fund balance that applies to future periods and so will not be recognized as an outflow of resources (expense) until then. The County reported deferred outflows of resources related to pensions resulting from the County’s contributions subsequent to the measurement date of the net pension liability and change in the County’s proportion and difference between the County’s contributions and the County’s proportionate contribution in the Statement of Net Position.


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In addition to liabilities, the Statement of Net Position/Governmental Funds Balance Sheet may report a separate section for deferred inflows of resources. This separate statement element represents an acquisition of net position/fund balance that applies to future periods and so will not be recognized as an inflow of resources (revenue) until that time. The County reflects deferred inflows of resources which are unavailable revenue reported in the government fund balance sheet for delinquent property taxes, insurance premiums, and for revenue received beyond 60 days of the year end, under the modified accrual basis of accounting. The County reported deferred inflows of resources related to pensions resulting from differences between expected and actual experience and the difference between the projected and actual earnings on pension plan investments in the Statement of Net Position.

USE OF ESTIMATES:

The preparation of financial statements in conformity with generally accepted accounting principles

requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

2. – RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS: EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND STATEMENT OF

REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES AND THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES:

The governmental fund statement of revenues, expenditures, and changes in fund balances includes a reconciliation between net change in fund balances – governmental funds and change in net position of governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that “governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense.” The details of this difference are as follows:

Capital outlay $ 3,798,094 Capital asset contributions

Depreciation expense

28,500

(4,672,035)

Net Difference in Reporting Capital Asset Activity

$

(845,441) Another element of that reconciliation states the “the issuance of long-term debt (e.g., bonds, leases)

provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities.” The details of this difference are as follows:

Proceeds from medium term obligation $ (548,249) Change in compensated absences (83,247) Principal repayments: Medium term obligation 119,152 Other obligations 28,390

Net Difference in Reporting Long-Term Debt Transactions

$

(483,954)


JUNE 30, 2016

25

3. – STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY: BUDGETARY INFORMATION:

Budgets are adopted on a basis consistent with generally accepted accounting principles. Elko County adheres to the Local Government Budget Act, incorporated within state statutes, which includes the following major procedures to establish the budgetary data that is reflected in these financial statements: 1. On or before April 15, the Elko County Board of Commissioners files a tentative budget with the

Nevada Department of Taxation for all funds other than Agency Funds, which are not required to be budgeted, for the fiscal year commencing the following July 1. The tentative budget includes proposed expenditures and the means of financing them.

2. Public budget hearings on the tentative budget are held prior to the adoption of the budget to obtain

taxpayer comments. 3. Prior to June 1, at a public hearing, the Board indicates changes, if any, to be made to the tentative

budget and adopts a final budget by a majority vote of the Board. The final budget must then be forwarded to the Nevada Tax Commission for review and approval. The above dates may be adjusted as necessary during legislative years.

4. Formal budgetary integration in the financial records of all funds is employed to enhance

management control during the year. Budgets for all funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). All appropriations lapse at the end of the fiscal year.

5. Budgeted amounts within funds, and between funds, may be transferred if amounts do not exceed

the original budget. Such transfers are to be approved by the budget officer and/or the Board of County Commissioners, depending on established criteria. Budget augmentations in excess of original budgetary amounts require prior approval of the Elko County Board of Commissioners, following a scheduled and noticed public hearing for those funds which have ad valorem tax allocated as a source of revenue. For all other funds, the Board of County Commissioners must approve the budget augmentation with a majority vote and adopt a resolution providing therefore.

6. Budgeted amounts reflected in the accompanying financial statements recognize budget

amendments made during the year in accordance with the above procedures. 7. In accordance with state statute, actual expenditures may not exceed budgeted appropriations of the

various governmental functions (excluding the debt service function) of the General Fund, Special Revenue Funds and Capital Projects Funds. Per NRS 354.626, expenditures over budgeted appropriations are allowed for bond repayments, medium term obligation repayments, and other long-term contracts expressly authorized by law. For Proprietary Funds, the sum of operating and nonoperating expenses may not exceed the sum of budgeted operating and nonoperating expenses.


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26

EXCESS OF EXPENDITURES/EXPENSES OVER APPROPRIATIONS:

Total expenditures/expenses exceeded those budgeted for the year in the following funds/functions:

Major Funds: Governmental:

General Fund – Public Safety $ 134,577 General Fund – Health 85,733 Town of Jackpot General Fund – Public Works 56,053 Enterprise: Town of Jackpot Sewer Fund 10,454

Nonmajor Governmental Funds: Indigent Fund 57,877 Library Special Federal Fund 1,270

Nonmajor Enterprise Funds:

Tuscarora Water Enterprise Fund Town of Jackpot Waste Disposal Fund

2,208 20,411

Town of Montello Water Fund 19,198

The above are potential violations of Nevada Revised Statute 354.626. The County plans to monitor expenditures/expenses in 2016- 2017 to help prevent potential violations.

DEFICIT FUND BALANCES/NET POSITION:

As of June 30, 2016, the following fund had a deficit fund balance:

Nonmajor Governmental Fund: Medical Assistance to Indigent Persons Fund

Local Emergency Planning Commission Fund $ 17,146

3,340

Major Enterprise Fund:

Elko Area Transportation System Fund 47,755 The County plans to monitor these funds in 2016-2017 and eliminate the deficit fund balances.


JUNE 30, 2016

27

4. – CASH AND INVESTMENTS: The cash reflected in the balance sheet is the carrying amount of deposits comprised of the individual funds'

equity in the pooled cash balances. A summary schedule of cash and investments for the County as of June 30, 2016, follows:

UNRESTRICTED RESTRICTED TOTAL Balances Classified by Fund: Governmental Activities $ 27,161,114 $ - $ 27,161,114 Business-Type Activities 2,450,405 42,021 2,492,426 Total Primary Government $ 29,611,519 $ 42,021 29,653,540 Investment Trust Fund 31,714,713 Agency Funds 1,597,859 Component Unit – Agricultural District No. 4

59,970

Total Reporting Entity $ 63,026,082

CARRYING

AMOUNT BANK

BALANCE Deposits: Insured or collateralized with securities held by the County or by its

agent in the County’s name

$ 33,518,600 $ 34,249,054 Cash on hand 13,258 - Total Deposits $ 33,531,858 $ 34,249,054

Nevada Revised Statutes (NRS 355.170) sets forth acceptable investments for Nevada local governments. The County has not adopted a formal investment policy that would further limit its investment choices nor further limit its exposure to certain risks as set forth below.

Risk Category

Interest Rate Risk - the risk of possible reduction in the value of a security, especially a bond, resulting from a rise in interest rates. As noted above, the County does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates beyond those specified in the statute. The County restricts notes, bonds, and other unconditional obligations at the time of purchase to have a remaining term to maturity of not more than 10 years as described by Nevada state law. Credit Risk - Nevada state law limits investments in commercial paper and corporate bonds. Corporate or depository institution commercial paper purchased from a registered dealer must have a credit rating of A-1, P-1, or better. Investments in money market mutual funds that invest in federal securities must have a credit rating of "AAA" and investments in obligations of state and local governments must rate A or higher. The County’s investments in U.S. Treasury Notes and U.S. Government Securities are rated AAA by Moody’s Investor Services and by Standard and Poor’s. The Local Government Investment Pool is an unrated external investment pool. However, the County’s policy allows this type of investment as permitted by statute. Custodial Credit Risk – All deposits are subject to custodial risk, which is the risk that the County’s deposits may not be returned to it in the event of a bank failure. Bank balances were covered by Federal Depository Insurance, the Securities Investor Protection Corporation, collateral held by the County’s agent in the County’s name or by collateral held by the depositories in the name of the


JUNE 30, 2016

28

Nevada Collateral Pool, and were not exposed to custodial risk, except for the following, $250,000 in demand deposits was over the SIPC limit. The County does not have a formal policy relating to custodial credit risk, but follows NRS. According to NRS 356.020, all monies deposited by a county treasurer that are not within the limits of insurance provided by an instrumentality of the United States must be secured by collateral composed of the same types of securities allowed for investments which are identified below. The County participates in the State of Nevada Collateral Pool which requires depositories to maintain as collateral acceptable securities having a fair market value of at least 102 percent of the amount of the uninsured balances of the public money held by the depository. Under NRS 356.360, the State Treasurer manages and monitors all collateral for all public monies deposited by members of the pool.

Investments – The County has a formal investment policy that, in the opinion of management, is designed to insure conformity with NRS and seeks to limit exposure to investment risks.

NRS 355.172 requires the County Treasurer or her agent to take physical possession of securities purchased as an investment by the County in the name of the County. If the securities purchased are subject to repurchase by the seller, the County may, in lieu of requirement of possession, obtain a fully perfected, first-priority security interest having a fair market value equal to or greater than the repurchase price of the securities. Investments are recorded at fair value. Earnings and/or losses on investments are allocated to certain funds based on average daily cash balances. The County categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The County does not have any investments that are measured using Level 3 inputs.

Fair Value Measurement Using

Fair Value

Quoted Prices In Active

Markets For Identical Assets

(Level 1)

Quoted Prices In Active

Markets For Identical Assets

(Level 2)

Investment Maturities (in Years) <1 1 - 5 5 - 10

Certificates of Deposits $ 15,892,668 $ 15,892,668 $ - $ 4,940,793 $ 10,951,875 $ - Money Market Mutual Funds 38,409 38,409 - 38,409 - - U.S. Treasury Notes & Bonds 4,638,023 4,638,023 - 1,099,712 3,538,311 - U.S. Government Securities 8,182,174 8,182,174 - 2,126,512 1,542,632 4,513,030 Local Government

Investment Pool*

682,980 - 682,980 682,980 - -

$

29,434,254 $ 28,751,274 $ 682,980 $ 8,888,406 $ 16,032,818 $ 4,513,030

*Average weighted maturity – 142 days

EXTERNAL INVESTMENT POOL

The County administers an external investment pool combining the County funds with involuntary investments from Elko County School District. The Board of County Commissioners has overall responsibility for investment of funds including the external investment pool in accordance with NRS 355.175. The Elko County Treasurer is delegated investment responsibilities. Monthly, the State of Nevada Local Government Pooled Investment Fund determines the fair value of the pool’s investments held by them. The fair value of other types of investments is determined as statements from the various companies are received, but no less often than annually. Each participant’s share is equal to their original investment plus or minus monthly allocations of interest income, and realized and unrealized gains and losses. The County has not provided nor obtained any legally binding guarantees to support the value of shares.



JUNE 30, 2016

29

Summary of Investments held in the external investment pool at June 30, 2016:

Investment Type Fair Value

Principal Amount Interest Rate Certificates of Deposits $ 15,892,668 $ 15,800,000 Variable Money Market Mutual Funds 38,409 38,409 Variable U.S. Treasury Notes & Bonds 4,638,023 4,610,525 Variable U.S. Government Securities 8,182,174 8,163,759 Variable Local Government Investment Pool* 682,980 682,980 Variable $ 29,434,254 $ 29,295,673 *Average weighted maturity – 142 days

External Investment Pool Condensed Financial Statements Statement of Net Position

June 30, 2016 Assets: Investments in securities U.S. Treasury notes and bonds $ 4,638,023 U.S. Government securities 8,182,174 Money Market mutual funds 38,409 Certificates of Deposit 15,892,668 Local Government Pooled Investment Fund 682,980 Total investments held in the external investment pool 29,434,254 Demand deposits 22,970,682 Interest receivable 70,723

Total Assets $

52,475,659

Net position held in trust for pool participants:

Net position consist of: Internal participants $ 20,760,946 External participants 31,714,713

Total net position held in trust for pool participants (Participants units outstanding, $1.00/par) $

52,475,659

Statement of Changes in Net Position For the Year Ended June 30, 2016

Additions: Investment earnings $ 767,438 Net change in fair value of investments 138,582

Change in net position resulting from operations

906,020

Net capital share transactions (12,485,861)

Change in net position

(11,579,841)

Net position, July 1 64,055,500

Net position, June 30 $

52,475,659

5. - CAPITAL ASSETS

Capital asset activity for the year ended June 30, 2016 was as follows:

BalanceJune 30, 2015 Additions

Governmental Activities:Capital assets, not being depreciated:

Land $ 5,550,514 $ - Construction in progress 282,352 380,836

Total capital assets, not being depreciated 5,832,866 380,836

Capital assets, being depreciated:Buildings and improvements 58,040,009 1,846,729 Equipment and motor vehicles 22,007,664 1,555,317 Infrastructure 66,214,509 197,809

Total capital assets, being depreciated 146,262,182 3,599,855

Total accumulated depreciationBuildings and improvements 17,293,774 1,570,922 Equipment and motor vehicles 12,351,886 1,426,558 Infrastructure 46,761,545 1,674,555

Total accumulated depreciation 76,407,205 4,672,035

Total capital assets, being depreciated, net 69,854,977 (1,072,180)

Governmental activities capital assets, net $ 75,687,843 $ (691,344)

Business-type Activities:Capital assets, not being depreciated:

Land $ 540 $ -

Capital assets, being depreciated:Buildings and improvements 15,511,535 177,296 Machinery and equipment 2,685,213 130,385 Infrastructure 170,287 -

Total capital assets, being depreciated 18,367,035 307,681

Total accumulated depreciationBuildings and improvements 6,550,721 541,787 Machinery and equipment 2,151,747 108,860

Total accumulated depreciation 8,702,468 650,647

Total capital assets, being depreciated, net 9,664,567 (342,966)

Business-type activities capital assets, net $ 9,665,107 $ (342,966)

ELKO COUNTYNOTES TO FINANCIAL STATEMENTS

JUNE 30, 2016

30

Completed BalanceTransfers Deletions Construction June 30, 2016

$ - $ - $ - $ 5,550,514 - - (415,988) 247,200

- - (415,988) 5,797,714

(154,097) (7,029) 415,988 60,141,600 (292,670) - 23,270,311

- - - 66,412,318

(154,097) (299,699) 415,988 149,824,229

- - - 18,864,696 - (234,610) - 13,543,834 - - - 48,436,100

- (234,610) - 80,844,630

(154,097) (65,089) 415,988 68,979,599

$ (154,097) $ (65,089) $ - $ 74,777,313

$ - $ - $ - $ 540

10,297 - - 15,699,128 143,800 (79,900) - 2,879,498

- - - 170,287

154,097 (79,900) - 18,748,913

- - - 7,092,508 - (79,900) - 2,180,707

- (79,900) - 9,273,215

154,097 - - 9,475,698

$ 154,097 $ - $ - $ 9,476,238

Depreciation expense was charged to functions/programs of the government as follows:

Governmental Activities:General government $ 1,258,957 Judicial 143,426 Public safety 957,406 Public works 2,153,369 Culture and recreation 158,877

Total depreciation expense-governmental activities $ 4,672,035

6.- INTERFUND BALANCES

The composition of interfund balances as of June 30, 2016 is as follows:

Due to/from other funds:

Receivable Fund Amount

Major Governmental Fund:General Fund $ 440,000 General County Capital Projects 173,719

Due from other funds $ 613,719

The composition of transfers as of June 30, 2016 is as follows:

General County Town of JackpotTransfers Out General Fund General Fund

Major Governmental Funds:General Fund $ - $ - Road Construction Fund - - Town of Jackpot General Fund - - Non-major Governmental Funds 241,843 -

Major Enterprise Funds:Jackpot Sewer Fund - 30,000 Jackpot Water Fund - 30,000 Non-major Business-type Funds - 30,000

$ 241,843 $ 90,000

Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budgetrequires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund as debtservice payments become due, (3) use unrestricted revenues collected in the General Fund to finance various programs accounted for inother funds in accordance with budgetary authorization, and (4) to transfer residual balances of discontinued funds.

Certain due to/from other funds represent lending/borrowing arrangements to cover cash flow requirements. They may be subject tovarious medium-term loan requirements by the State of Nevada.

Transfers In

31


JUNE 30, 2016

Business-Type Activities: Tuscarora Water $ 16,869 Jarbidge Water 85,142 Solid Waste 10,421 Town of Jackpot Water 156,628 Town of Jackpot Sewer 154,570 Town of Jackpot Waste Disposal 69,987 Town of Montello Water 89,471 Town of Montello Sewer 5,815 Elko Ambulance 52,916Elko Area Transportation System 8,828

Total depreciation expense-business-type activities $ 650,647

Payable Fund Amount

Major Enterprise Funds: Elko Area Transportation System Fund $ 173,719 Elko Ambulance Fund 250,000 Nonmajor Special Revenue Funds: Road Construction Fund 140,000 Local Emergency Planning Commission Fund 50,000

Due to other funds $ 613,719

General County Elko Area Transportation Non-Major Non-Major Capital Projects Fund System Fund Governmental Funds Proprietary Funds Total

$ 2,000,000 $ 100,000 $ 191,500 $ 50,000 $ 2,341,500- - 1,300,000 - 1,300,000- - 250,000 - 250,000- - - - 241,843

.- - - - 30,000- - - - 30,000- - - - 30,000

$ 2,000,000 $ 100,000 $ 1,741,500 $ 50,000 $ 4,223,343

Transfers In


JUNE 30, 2016

32

7. – DEFINED BENEFIT PENSION PLAN

Plan Description The County of Elko contributes to the Public Employees’ Retirement System of the State of Nevada (PERS). PERS administers a cost-sharing, multiple-employer, defined benefit public employees’ retirement system which includes both Regular and Police/Fire members. PERS was established by the Nevada Legislature in 1947, effective July 1, 1948. PERS is administered to provide a reasonable base income to qualified employees who have been employed by a public employer and whose earnings capacities have been removed or substantially impaired by age or disability. Benefits Provided Benefits, as required by the Nevada Revised Statutes (NRS or statute), are determined by the number of years of accredited service at time of retirement and the member’s highest average compensation in any 36 consecutive months with special provisions for members entering PERS on or after January 1, 2010. Benefit payments to which participants or their beneficiaries may be entitled under the plan include pension benefits, disability benefits, and survivor benefits. Monthly benefit allowances for members are computed as 2.5% of average compensation for each accredited year of service prior to July 1, 2001. For service earned on and after July 1, 2001, this multiplier is 2.67% of average compensation. For members entering PERS on or after January 1, 2010, there is a 2.5% multiplier. PERS offers several alternatives to the unmodified service retirement allowance which, in general, allow the retired employee to accept a reduced service retirement allowance payable monthly during his or her lifetime and various optional monthly payments to a named beneficiary after his or her death. Post-retirement increases are provided by authority of NRS 286.575 - .579. Vesting Regular members are eligible for retirement at age 65 with five years of service, at age 60 with 10 years of service, or at any age with thirty years of service. Regular members entering PERS on or after January 1, 2010, are eligible for retirement at age 65 with five years of service, or age 62 with 10 years of service, or any age with thirty years of service. Police/Fire members are eligible for retirement at age 65 with five years of service, at age 55 with ten years of service, at age 50 with twenty years of service, or at any age with twenty-five years of service. Police/Fire members entering PERS on or after January 1, 2010, are eligible for retirement at 65 with five years of service, or age 60 with ten years of service, or age 50 with twenty years of service, or at any age with thirty years of service. Only service performed in a position as a police officer or firefighter may be counted towards to eligibility for retirement as Police/Fire accredited service. The normal ceiling limitation on monthly benefits allowances is 75% of average compensation. However, a member who has an effective date of membership before July 1, 1985, is entitled to a benefit of up to 90% of average compensation. Both Regular and Police/Fire members become fully vested as to benefits upon completion of five years of service. Contributions

The authority for establishing and amending the obligation to make contributions and member contribution rates, is set by statute. New hires, in agencies which did not elect the Employer-Pay Contribution (EPC) plan prior to July 1, 1983, have the option of selecting one of two contribution plans.


JUNE 30, 2016

33

Contributions are shared equally by employer and employee. Employees can take a reduced salary and have contributions made by the employer (EPC) or can make contributions by a payroll deduction matched by the employer. PERS’ basic funding policy provides for periodic contributions at a level pattern of cost as a percentage of salary throughout an employee’s working lifetime in order to accumulate sufficient assets to pay benefits when due. PERS receives an actuarial valuation on an annual basis indicating the contribution rates required to fund PERS on an actuarial reserve basis. Contributions actually made are in accordance with the required rates established by the Nevada Legislature. These statutory rates are increased/decreased pursuant to NRS 286.421 and 286.450. The actuary funding method used is the Entry Age Normal Cost Method. It is intended to meet the funding objective and result in a relatively level long-term contributions requirement as a percentage of salary. For the fiscal year ended June 30, 2016 the Statutory Employer/employee matching rate was 14.50% for Regular and 20.75% for Police/Fire. The Employer-pay contribution (EPC) rate for the fiscal year ending June 30, 2016 was 28.00% for Regular and 40.50% for Police/Fire. The County’s contributions were $6,207,260 for the year ended June 30, 2016. PERS Investment Policy PERS’ policies which determine the investment portfolio target asset allocation are established by the PERS Board. The asset allocation is reviewed annually and is designed to meet the future risk and return needs of the System. The following was the PERS Board adopted policy target asset allocation as of June 30, 2015:

Asset Class

Target Allocation Long-Term Geometric Expected Real

Rate of Return Domestic Equity 42% 5.50% International Equity 18% 5.75% Domestic Fixed Income 30% 0.25% Private Markets 10% 6.80%

As of June 30, 2015, PERS’ long-term inflation assumption was 3.5%. Net Pension Liability At June 30, 2016, the County reported a liability of $39,968,068 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2015, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The County’s proportion of the net pension liability was based on the County’s share of contributions in PERS pension plan relative to the total contributions of all participating PERS employers and members. At June 30, 2015, the County’s proportion was 0.34878 percent, which is an increase of 0.016 from its proportion measured as of June 30, 2014 of 0.33278 percent.


JUNE 30, 2016

34

Pension Liability Discount Rate Sensitivity The following presents the net pension liability of the County as of June 30, 2016, calculated using the discount rate of 8.00%, as well as what the County’s net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (7.00%) or 1-percentage-point higher (9.00%) than the current discount rate:

1% Decrease in Discount Rate (7.00%)

Discount Rate (8.00%)

1% Increase in Discount Rate (9.00%)

Net Pension Liability $60,903,332 $39,968,068 $22,558,934

Pension Plan Fiduciary Net Position Detailed information about the pension plan’s fiduciary net position is available in the PERS Comprehensive Annual Financial Report, available on the PERS website. Actuarial Assumptions The County’s net pension liability was measured as of June 30, 2015, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The total pension liability was determined using the following actuarial assumptions, applied to all periods included in the measurement:

Mortality rates for non-disabled male regular members were based on the RP-2000 Combined Healthy Mortality Table projected to 2013 with Scale AA. Mortality rates for non-disabled female regular members were based on the RP-2000 Combined Healthy Mortality Table, projected to 2013 with Scale AA, set back one year. Mortality rates for all non-disabled police/fire members were based on the RP-2000 Combined Healthy Mortality Table projected to 2013 with Scale AA, set forward one year. The mortality table used in the actuarial valuation to project mortality rates for all disabled regular members and all disabled police/fire members is the RP-2000 Disabled Retiree Mortality Table projected to 2013 with Scale AA, set forward three years. Actuarial assumptions used in the June 30, 2015 valuation were based on the results of the experience review completed in 2013. The discount rate used to measure the total pension liability was 8.00% as of June 30, 2015. The projection of cash flows used to determine the discount rate assumed that employee and employer contributions will be made at the rate specified in statute. Based on that assumption, the pension plan’s fiduciary net position at June 30, 2015, was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability as of June 30, 2015.

Inflation Rate 3.50% Payroll Growth 5.00% including inflation Investment Rate of Return 8.00% Productivity Pay Increase 0.75% Projected Salary Increases Regular: 4.60% to 9.75%, depending on service Police/Fire: 5.25% to 14.5%, depending on service Rates include inflation and productivity increases Consumer Price Index 3.50% Other Assumptions Same as those used in the June 30, 2015 funding actuarial valuation


JUNE 30, 2016

35

Pension Expense, Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions For the year ended June 30, 2016, the County recognized pension expense of $4,797,613. At June 30, 2016, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows

of Resources Deferred Inflows

of Resources Differences between expected and actual experience $ - $ 3,006,291 Changes in assumptions or other inputs - - Net difference between projected and actual earnings

on pension plan investments

-

2,164,936 Changes in the employer’s proportion and differences

between the employer’s contributions and the employer’s proportionate contributions

2,939,434

- County contributions subsequent to the measurement

date

6,113,576

- Total

$ 9,053,010

$ 5,171,227

The $6,113,576 reported as deferred outflows of resources related to pensions resulting from Employer contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2017. The average of the expected remaining service lives of all employees that are provided with pensions through PERS (active and inactive employees) determined at July 1, 2014 (the beginning of the measurement period ended June 30, 2015) is 6.55 years. Other estimated amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year ended June 30: 2017 $ (1,068,946) 2018 (1,068,946) 2019 (1,068,946) 2020 839,783 2021 24,851 Thereafter 110,411 $ (2,231,793)



JUNE 30, 2016

36

8. – DEFERRED COMPENSATION PLAN: The County offers its employees a deferred compensation plan created in accordance with Internal

Revenue Code Section 457. The plan, available to all County employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. The assets of the plan are held in trust and for the exclusive benefit of plan participants and their beneficiaries. Therefore, in accordance with GASB 32, the assets are not recorded as an agency fund of the County.

9. – RISK MANAGEMENT: The County is exposed to various risks of loss related to torts; theft of, damage to, and destruction of

assets; errors and omissions; injuries to employees; and natural disasters. The County has joined together with similar public agencies to create a Nevada Public Agency Insurance Pool (NPAIP) under the Nevada Interlocal Cooperation Act throughout the State of Nevada. NPAIP is an intergovernmental public entity risk pool currently operating as a common risk management and insurance program for its members. The County pays an annual premium and specific deductibles, as necessary, to the Pool for its general insurance coverage. The Pool is considered a self-sustaining risk pool that will provide liability coverage for its members up to $10,000,000 per event and a $10,000,000 annual aggregate per member. Property, crime and equipment breakdown is provided to its members up to $300,000,000 per loss with various sub-limits established for earthquake, flood, equipment breakdown and money and securities. Settled claims from these risks have not exceeded commercial insurance coverage for the past three years. The County has chosen to establish a risk financing fund for risks associated with the employee health insurance plan. The risk financing fund is accounted for as an internal service fund where assets are set aside for claim settlements. A premium is charged to each function which accounts for part-time and/or full time employees. Liabilities of the fund are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported (IBNR). The result of the process to estimate the claims liability is not an exact amount, as it depends on many complex factors, such as inflation and changes in legal doctrines. Accordingly, claims are reevaluated periodically to consider the effects of inflation, recent claim settlement trends (including frequency and amount of payout), and other economic and social factors. Changes in the balances of claim liabilities during the past two fiscal years are as follows:

Unpaid Claims,

Beginning of Fiscal Year

Incurred Claims

(Including IBNR’s)

Claim

Payments

Unpaid Claims, End of

Fiscal Year 2015-16 $ 769,747 $ 5,096,787 $ 5,135,317 $ 731,217 2014-15 786,014 4,784,577 4,800,844 769,747 The County also joined together with similar public agencies effective April 1, 1996, to create a pool

under the Nevada Interlocal Cooperation Act. The Public Agency Compensation Trust (PACT) is an intergovernmental self-insured association for workers compensation insurance. The County pays premiums based on payroll costs to the PACT. The PACT is considered a self-sustaining pool that will provide coverage based on established statutory limits.

10. – LONG-TERM OBLIGATIONS:

ORIGINAL YEAR OFDATE OF ISSUE INTEREST FINAL

ISSUE AMOUNT RATE PAYMENT

Medium Term Obligation Debt:Vehicles, Sheriff Department 6/22/2016 $ 548,249 2.32% 2020

Compensated Absences N/A N/A N/A N/A

Other Obligations:Commitment payable, Eureka County, juvenile detention

facility, repayment from detention charges 1994 1,000,000 N/A N/A

Total Governmental Activities

37


JUNE 30, 2016

PRINCIPALPRINCIPAL ISSUED PAID PRINCIPAL PRINCIPAL

OUTSTANDING DURING DURING OUTSTANDING DUE INJULY 1, 2015 PERIOD PERIOD JUNE 30, 2016 2016 - 2017

- 548,249 119,152 429,097 109,197

1,649,966 955,939 872,692 1,733,213 771,375

707,176 - 28,390 678,786 28,390

$ 2,357,142 $ 1,504,188 $ 1,020,234 $ 2,841,096 $ 908,962

ORIGINAL YEAR OFDATE OF ISSUE INTEREST FINAL

ISSUE AMOUNT RATE PAYMENTBusiness-Type Activities

Revenue Bonds:General County, Tuscarora Water Enterprise Fund:

Water System Improvement Bonds 6/18/1980 $ 40,500 5.00% 2016

Town of Jackpot, Water Enterprise Fund:Water Bonds, Series 2012A 5/15/2012 695,000 2% 2052

Water Bonds, Series 2012B 5/15/2012 1,028,481 2% 2052

Compensated Absences N/A N/A N/A N/A

Total Business-Type Activities

38


JUNE 30, 2016

PRINCIPALPRINCIPAL ISSUED PAID PRINCIPAL PRINCIPAL

OUTSTANDING DURING DURING OUTSTANDING DUE INJULY 1, 2015 PERIOD PERIOD JUNE 30, 2016 2016 - 2017

$ 7,791 $ - $ 7,791 $ - $ -

658,888 - 12,207 646,681 12,452

975,031 - 18,068 956,963 18,433

1,641,710 - 38,066 1,603,644 30,885

45,639 8,670 5,777 48,532 15,791

$ 1,687,349 $ 8,670 $ 43,843 $ 1,652,176 $ 46,676

11. – DEBT SERVICE REQUIREMENTS TO MATURITY:

The annual requirements to pay principal and interest on all bonds, notes and leases payable are as follows:

Year Ended

June 30, Principal Interest Principal Interest

Governmental Activities:2017 $ - $ - $ 109,196 $ 9,955 2018 - - 111,730 7,422 2019 - - 102,892 4,830 2020 - - 105,279 2,442

- - 429,097 24,649

Business-type Activities:2017 30,885 31,791 - - 2018 31,508 31,168 - - 2019 32,145 30,531 - - 2020 32,793 29,883 - - 2021 33,455 29,221

2021-2026 177,684 135,696 - - 2027-2031 196,352 117,028 - - 2032-2036 216,987 96,393 - - 2037-2041 239,785 73,594 - - 2042-2046 264,981 48,399 - - 2047-2051 292,828 20,552 - -

2052 54,241 522 - -

1,603,644 644,778 - -

$ 1,603,644 $ 644,778 $ 429,097 $ 24,649

Compensated absences typically have been liquidated by the General and Enterprise Funds.

The County is in compliance with all significant limitations and restrictions contained in the various bond indentures.

39


JUNE 30, 2016

Debt Supported by Special Revenues Medium Term Obligation Debt


JUNE 30, 2016

40

12. – AVAILABLE BORROWING CAPACITY: The lawful General County government general obligation debt limit at June 30, 2016, was $200,790,829

(NRS 244A.059), which is 10% of the total last assessed valuation of the taxable property in the County. Total general obligation debt of Elko County (excluding general obligations of the unincorporated towns) was zero, leaving a legally available borrowing capacity of $200,790,829. The lawful general obligation debt limit (NRS 269.425) is 25% of the last assessed valuation of the taxable property in the Town. The outstanding general obligation debt and available borrowing capacity at June 30, 2016, of the respective unincorporated towns within Elko County appears below:

TOWN OF TOWN OF

JARBIDGE(1) TOWN OF

JACKPOT TOWN OF

MONTELLO MOUNTAIN

CITY Town general obligation debt limit $ 474,337 $ 7,075,981 $ 406,218 $ 512,244 General obligation debt

outstanding

-

-

-

-

Available Borrowing Capacity

$ 474,337

$ 7,075,981

$ 406,218

$ 512,244

(1) The unincorporated town cannot assess a tax rate nor incur debt per Elko County resolution. 13. - AD VALOREM CAPITAL PROJECTS FUNDS: Pursuant to NRS 354.598155(4) the audit report must disclose in detail the projects that have been

funded with money from this fund. Following is a description of the projects funded by the various Ad Valorem Capital Project Funds:

• General County –$115,935 for the replacement of the windows in the court house; $380,836 for the building of a vehicle maintenance building for the Fire District; $302,695 for a fire engine and equipment; $3,500 for an air conditioner unit for the recorder’s office; $16,345 for a vehicle lift for the Fire District maintenance building, and $401,041 for the settlements to the cities and towns for their portion of the tax levy.

• Jackpot – $18,985 for the gravel base for the park pavilion shelter, and $9,682 in golf course

pond repairs.

• Montello – no expenditures

• Mountain City – no expenditures


JUNE 30, 2016

41

14. – POST EMPLOYMENT HEALTH CARE PLANS: Plan Descriptions: The County administers a single-employer defined benefit healthcare plan, Elko

County Employee Health Benefits Plan (ECEHBP). Additionally, the County contributes to an agent multiple-employer defined benefit postemployment healthcare plan, Public Employees’ Benefits Plan (PEBP). Each plan provides medical, vision, dental, and life insurance benefits to eligible retired County employees and beneficiaries. Benefit provisions for the ECEHBP are established pursuant to NRS 287.023 and amended through negotiations between the County and the respective associations. The plan provides healthcare insurance for eligible retirees and their beneficiaries through the County’s group health insurance plan, which covers both active and retired members. Under NRS 287.023, eligible retirees are able to participate in the plan with blended rates, thereby benefitting from an implicit subsidy. Retirees are required to pay 100% of their premiums under the plan. As of June 30, 2016, 8 retirees were using this plan. The ECEHBP does not issue a publicly available financial report. Benefit provisions for the PEBP are administered by the State of Nevada. NRS 287.041 assigns the authority to establish and amend benefit provisions to the PEBP nine-member board of trustees. County employees who met the eligibility requirements effective September 1, 2008 for retirement within the Nevada Public Employee Retirement System had the option upon retirement to enroll in coverage under the PEBP. NRS 287.023 sunsetted the option to join PEBP for retirees who retired from the County after November 29, 2008. Local governments are required to pay the same portion of the cost of coverage for their retirees joining PEBP that the State of Nevada pays for state retirees participating in the plan. As of June 30, 2016, 127 County retirees were utilizing this benefit. The PEBP issues a publicly available financial report that includes financial statements. That report may be obtained by writing to Public Employees Benefits Program, 901 S. Stewart Street, Suite 1001, Carson City, NV 89701, by calling (775)684-7000, or by accessing the website at www.pebp.state.nv.us/informed/financial.htm. Funding Policy: For ECEHBP, contribution requirements of the plan members and the County are established and may be amended through negotiations between the County and the associations. Retirees (except Supervisor’s and General Bargaining Units) pay 100% of the pay-as-you-go premiums based on a blended rate that blends active participants and retirees. Eligible retirees of the Supervisor’s and General Bargaining Units receive a $100 per month contribution toward their premium. The County’s contribution requirements for retirees relate to the implicit subsidy that results from using the blended rates and is determined in actuarial studies contracted for by the County. The implicit subsidy as determined by the actuary is $66,392. The County did not prefund any future benefits. The County has assigned $1,245,575 of ending fund balance at June 30, 2016 for other post employment benefits (OPEB) in the Post Employment Benefit Special Revenue Fund.

For the PEBP, NRS 287.046 establishes the subsidies to be contributed toward the premium costs of the eligible retired County employees. The contribution requirements of plan members and the County may be amended by the PEBP board through legislation. Premium rates determined by PEBP are the same for all participating members. The unsubsidized nonstate retiree plan premiums in effect for fiscal year 2016 ranged from $793 to $976, depending on the type of plan chosen. Plan members receiving benefits have their monthly contribution deducted from their pension checks based on the health plan chosen by the retiree, as reduced by the amount of the subsidy; therefore, their contributions are not available. For the plan year ended June 30, 2016, retirees qualified for a subsidy ranging from $0.82 to $1,099 per month. As a participating employer, the County is billed for the subsidy on a monthly basis and is legally required to provide for it. For fiscal year 2016, the County contributed $399,152 to the plan, which is the expected required contribution per the actuary’s report. The County did not prefund future benefits.

http://www.pebp.state.nv.us/informed/financial.htm


JUNE 30, 2016

42

Annual OPEB Cost and Net OPEB Obligation. The County’s annual other postemployment benefit (OPEB) cost (expense) for the plans is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years.

The County’s annual OPEB cost, the percentage of annual OPEB cost contributed to the plans, and the net OPEB obligations, by plan, at June 30, 2016 and the two preceding years for each plan were as follows:


JUNE 30, 2016

43

Annual OPEB Cost

Percentage of Annual

Net OPEB

Fiscal Year (Entry Age Normal Employer OPEB Obligation End Cost Method) Contributions Contributed (Asset)

ECEHBP June 30, 2014 $ 499,065 $ 59,480 12% $ 6,247,164 PEBP June 30, 2014 312,958 310,745 99% (13,794) $ 812,023 $ 370,225 $ 6,233,370 ECEHBP June 30, 2015 $ 328,285 $ 83,111 25% $ 6,492,338 PEBP June 30, 2015 262,841 295,827 112% (46,780) $ 591,126 $ 378,938 $ 6,445,558 ECEHBP June 30, 2016 $ 348,529 $ 92,786 27% $ 6,748,081 PEBP June 30, 2016 260,335 306,366 118% (92,811) $ 608,864 $ 399,152 $ 6,655,270

The net OPEB obligation as of June 30, 2016, was calculated as follows:

ECEHBP PEBP Total Annual Required Contribution (ARC) $ 464,289 $ 259,057 $ 723,346 Interest (asset) on net OPEB obligation 259,693 (1,871) 257,822 Adjustment to annual required contribution (375,453) 3,149 (372,304) Annual OPEB cost (expense) 348,529 260,335 608,864 Contributions made (92,786) (306,366) (399,152) Increase (decrease) in net OPEB obligation 255,743 (46,031) 209,712 Net OPEB obligation – beginning of the year 6,492,338 (46,780) 6,445,558 Net OPEB obligation – end of year $ 6,748,081 $ (92,811) $ 6,655,270

Funded Status and Funding Progress: The funded status of the plans as of the most recent valuation were as

follows:

ECEHBP PEBP Total Accrued actuarial liability (a) $ 4,325,991 $ 3,848,770 $ 8,174,761 Actuarial value of plan assets (b) - - - Unfunded Actuarial Accrued Liability (a) – (b) $ 4,325,991 $ 3,848,770 $ 8,174,761 Funded Ratio (b) / (a) 0% 0% 0% Covered payroll (c) $ 18,455,977 $ N/A Unfunded Actuarial Accrued Liability as a Percentage of Covered Payroll ([(a) –(b)] / (c)) 23.45% N/A


JUNE 30, 2016

44

Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability

of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. Multiyear information will be provided as it becomes available.

Actuarial Methods and Assumptions: Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the County and plan members to that point. Actuarial calculations reflect long-term perspective and employ methods and assumptions that are designed to reduce short-term volatility in actuarial accrued liabilities and actuarial value of assets. Significant methods and assumptions used in the July 1, 2015 actuarial valuation were as follows:

ECEHBP PEBP Actuarial valuation date July 1, 2014 July 1, 2014 Actuarial cost method Entry Age Normal Cost Entry Age Normal Cost Amortization method Level Dollar Level Dollar Amortization period 30 years (open) 24 years (closed) Asset valuation method No assets in trust No assets in trust Actuarial Assumptions: Investment rate of return 4% 4% General inflation rate per year

2.75% 2.75%

Projected overall salary increase Regular N/A – no payroll 3% Police/fire N/A – no payroll 3% Medical Healthcare inflation rate* 7.5% 7.5%

*Decreasing 0.5% each year until ultimate rate of 5% is reached in 2021.


JUNE 30, 2016

45

15. – COMMITMENTS AND CONTINGENT LIABILITIES: The following events are Elko County commitments at June 30, 2016:

• On January 9, 2002 the City of Carlin, the City of Elko and Elko County entered into a

cooperative agreement to provide financial resources for a water-line extension project for the Fire Academy located on the outskirts of the City of Carlin. The project was deemed beneficial to the economy of the three governmental entities. The water line was completed in the 2002-2003 fiscal year and is property of the City of Carlin. The project was funded by a federal grant of up to $1,000,000 obtained by the City of Carlin. This grant required matching funds of 25%. Therefore, a loan of $350,000 was obtained by the City of Carlin from the U.S. Department of Agriculture, Rural Development Agency. The cooperative agreement provided that the City of Elko and Elko County will each reimburse the City of Carlin one-third of the annual loan payment. This loan carries a maximum interest rate of 5 1/8% per year, payable over a period of 40 years in annual payments of $20,748. The City of Elko and Elko County have each committed to pay the City of Carlin the maximum sum of $6,916 per year until the loan is paid in full or for a maximum of 40 years. A surcharge fee will be charged by the City of Carlin for every water user who connects to the new water line within a period of 40 years. The proceeds collected from this fee will be used to equally reimburse the City of Elko and Elko County for any payments made by them.

• On November 6, 2014, the County approved the Indigent Health Care one cent ad valorem tax repayment to the State of Nevada for missed payments from 2002 to 2013 totaling $1,308,168. The funds will be repaid with indigent funds collected from the property tax rate budgeted for in the Indigent Fund. The payments will be quarterly over 4 years, as follows:

Fiscal Year 2016-17 $125,000 per quarter Fiscal Year 2017-18 $32,471 per quarter

Claims and Lawsuits Involving Elko County:

• Legal counsel for the County is aware of several pending lawsuits against Elko County and various instances of threatened litigation. The ultimate effect to Elko County has not been determined.


JUNE 30, 2016

46

16. - SUBSEQUENT EVENTS: • On July 20, 2016, the County awarded a bid to Remington Construction for the Last Chance Road

regrade and pavement project in the amount of $1,666,666.

• Elko County has had its first and second reading of Ordinance 2016-03 entitled “An ordinance creating a new Chapter 6 in Title 11 of the Elko County Code to impose a fee on telecommunications with the proceeds being used to enhance emergency dispatch services”. The surcharge on access lines to the local exchange of telecommunications provider will be $0.25 per month per line. The surcharge on trunk lines to the local exchange of a telecommunications provider will be $2.50 per month per line. The surcharge for each telephone number assigned to a customer by a supplier of mobile telephone services will be $0.25 per month per line.

REQUIRED SUPPLEMENTARY INFORMATION

Actuarial UAAL as aAccrued Percentage

Actuarial Actuarial Liability (AAL) - Unfunded AAL Funded of CoveredValuation Value of Plan Projected Normal (UAAL) Ratio Covered Payroll

Date Assets (a) Age Entry (b) (b - a) (a / b) Payroll (c) ([b - a] / c)

ECEHBP 7/1/2010 - 12,694,238$ 12,694,238$ 0.00% 15,105,139$ 84.04%PEBP 7/1/2010 - 5,225,526 5,225,526 0.00% - 0.00%ECEHBP 7/1/2012 - 3,854,991 3,854,991 0.00% 15,105,139 25.52%PEBP 7/1/2012 - 5,004,873 5,004,873 0.00% - 0.00%ECEHBP 7/1/2014 - 4,042,712 4,042,712 0.00% 17,746,132 22.80%PEBP 7/1/2014 - 4,002,133 4,002,133 0.00% - 0.00%

Trend Data:

Change 2010 to 2012:AAL decreased 70% for the county plan and 4% for PEBP due to the following reasons:

(1) For the ECEHBP Plan, updates to premium rates since the prior valuation was prepared.(2) For the ECEHBP Plan, a significant change in how projected medical claims for retirees covered by Medicare are evaluated.(3) For the ECEHBP Plan, an increase in the percentage of future County plan retirees who would elect to continue their medical and life insurance coverage in retirement to 25% from 20%.(4) For the ECEHBP Plan, an increase in the percentage of future County plan retirees who would elect to cover their spouse to 50% from 40%.(5) For the ECEHBP Plan, the AAL was updated for longer life expectancies and future assumptions for medical premiums.(6) For PEBP, it is essentially a closed plan with no active employee accruals and should gradually decrease as benefits are paid out.

Change 2012 to 2014:AAL increased 4% for the county plan and decreased 19% for PEBP due to the following reasons:

(1) For the ECEHBP Plan, updates to employee and premium rates since the prior valuation was prepared.(2) For the ECEHBP Plan, updates to the assumed rates of termination, retirements and mortality to be consistent with those used in the most recent valuation of the retirement plan covering County employees.(3) For the ECEHBP Plan, an update to the methodology for projecting improvements in future life expectancy. (4) For the ECEHBP Plan, a change in the methodology and assumptions used to develop age related retiree medical claim costs.(5) For the ECEHBP Plan, a decrease in the percentage of future retirees assumed to elect coverage for their spouse and an assumption that all future retirees will discontinue their County coverage once becoming eligible for Medicare coverage.(6) For the ECEHBP Plan, recognition of the projected excise tax for retiree coverage in high cost plans under the ACA.(7) For PEBP, it is essentially a closed plan with no active employee accruals and should gradually decrease as benefits are paid out.

47

ELKO COUNTYREQUIRED SUPPLEMENTARY INFORMATION

JUNE 30, 2016SCHEDULE OF FUNDING PROGRESS - OTHER POSTEMPLOYMENT BENEFITS

2015 2016

County’s Portion of Net the Pension Liability 0.33278% 0.34878%County’s Proportionate Share of the Net Pension Liability 34,159,164$ 39,968,068$ County’s Covered-Employee Payroll 19,518,212$ 20,550,542$ County’s Proportional Share of the Net Pension Liability as a

Percentage of its covered-employee payroll 175.01% 194.49%Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 76.30% 75.13%

* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the County will present information for those years for which information is available.

SCHEDULE OF COUNTY'S SHARE OF NET PENSION LIABILITY

48

PUBLIC EMPLOYEE'S RETIREMENT SYSTEM OF NEVADA (PERS)


LAST TEN FISCAL YEARS*

2015 2016

Statutorily required contribution 5,462,911$ 6,207,260$ Contributions in relation to the statutorily required contribution 5,462,911$ 6,207,260$ Contribution (deficiency) excess -$ -$ Employer’s covered-employee payroll 20,550,542$ 21,711,355$ Contributions as a percentage of covered-employee payroll 26.58% 28.59%

* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the County will present information for those years for which information is available.

49


SCHEDULE OF COUNTY'S CONTRIBUTIONSPUBLIC EMPLOYEE'S RETIREMENT SYSTEM OF NEVADA (PERS)

LAST TEN FISCAL YEARS

ACTUAL REVENUES

Taxes:Secured roll $ 5,646,323 Personal property roll 1,074,792 Net proceeds of mines 678,708 Unsecured, other 1,629,268

Total Taxes $ 9,461,053 $ 9,461,053 9,029,091

Licenses and Permits:Business Licenses and Permits

Liquor licenses 14,000 14,000 14,800 County gaming licenses 400,000 400,000 257,947 County special gaming licenses - - 47,948

Franchise FeesTV franchise 6,000 6,000 - Other franchise fees - - 76,053

Nonbusiness Licenses and PermitsMarriage licenses 12,000 12,000 9,198 Building permits 400,000 400,000 396,660 Mobile home permits - - 90 Work permits 3,000 3,000 3,795 Concealed weapons permit 15,000 15,000 36,744 Other permits 5,000 5,000 47

Total Licenses and Permits 855,000 855,000 843,282

Intergovernmental Revenues:Federal and state miscellaneous grants in aid 10,000 340,475 340,475

State shared revenueNDF reimbursements - - 260,000 State gaming licenses 197,000 197,000 138,096 Consolidated tax 11,000,993 11,000,993 12,001,654 Court administrative assessments 100,000 100,000 86,853

11,297,993 11,297,993 12,486,603

Cost allocation plan 243,000 243,000 231,200

Total Intergovernmental Revenues 11,550,993 11,881,468 13,058,278

GENERAL FUND

REQUIRED SUPPLEMENTARY INFORMATIONSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUAL

(With Comparative Actual Amounts for the Year Ended June 30, 2015)

ELKO COUNTY

50

BUDGETFINAL

(Page 1 of 8)

ORIGINAL


VARIANCE TOFINAL BUDGET 2015

$ 5,613,860 1,040,226

236,839 2,058,475

$ (431,962) 8,949,400

800 15,135 (142,053) 231,274

47,948 38,416

(6,000) 7,000 76,053 73,581

(2,802) 9,912 (3,340) 471,579

90 95 795 5,398

21,744 26,241 (4,953) 73

(11,718) 878,704

- 293,383

260,000 945 (58,904) 142,504

1,000,661 11,356,210 (13,147) 96,174

1,188,610 11,595,833

(11,800) 231,200

1,176,810 12,120,416


Charges for Services:General Government

Clerk fees 140,000 140,000 76,486 Civil actions 50,000 50,000 67,637 Recorder fees 400,000 400,000 271,515 Mining map fees 50,000 50,000 21,240 Assessor's commissions 452,000 452,000 542,830 Building and zoning fees 25,000 25,000 41,450 Other charges 4,000 4,000 482

JudicialJustice of peace fees 120,000 155,000 168,130 Municipal reimbursement 315,818 315,818 236,940 Public defender fees 50,000 50,000 15,042 District court facility fee - - 1,347 Marriage license fees 12,000 12,000 13,025 Bail fees 25,000 25,000 15,575 Law Library 20,000 20,000 13,320 Other charges 40,000 40,000 74,802

Public SafetySheriff's fees 150,000 150,000 56,405 Inmate communication fees - - 139,386 Extradition reimbursements 47,000 47,000 30,596 Background investigations 60,000 60,000 49,524 Town contributions 940,000 940,000 959,450

CorrectionPrisoner board 20,000 45,000 58,252

Total Charges for Services 2,920,818 2,980,818 2,853,434

Fines and Forfeits:Court fines 200,000 200,000 330,060 Forfeited bail 965,000 965,000 975,839 State fines - - -

Total Fines and Forfeits 1,165,000 1,165,000 1,305,899

Miscellaneous:Investment earnings 250,000 250,000 162,416 Rents and royalties 5,000 5,000 19,800 Sales of merchandise and supplies 10,000 10,000 2,714 Tax sale proceeds 125,000 125,000 230,205 Delinquent tax penalties and late fees 570,000 570,000 446,395 Other miscellaneous 40,000 40,000 82,622

Total Other 1,000,000 1,000,000 944,152

ACTUAL

51


(Page 2 of 8)

ORIGINAL FINALBUDGET

FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUAL

ELKO COUNTY

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN

GENERAL FUND



(63,514) 93,693 17,637 74,538

(128,485) 253,559 (28,760) 11,596 90,830 471,238 16,450 20,532 (3,518) 896

13,130 156,686 (78,878) 205,827 (34,958) 14,187

1,347 - 1,025 12,746

(9,425) 11,213 (6,680) 14,650 34,802 103,760

(93,595) 64,582 139,386 57,355 (16,404) 16,651 (10,476) 43,819 19,450 909,450

13,252 89,911

(127,384) 2,626,889

130,060 331,447 10,839 1,059,995

- 12,487

140,899 1,403,929

(87,584) 139,935 14,800 19,050 (7,286) 3,930

105,205 146,818 (123,605) 489,474

42,622 83,022

(55,848) 882,229


ACTUAL

Total Revenues 26,952,864 27,343,339 28,034,136

EXPENDITURESGeneral Government:

CommissionersSalaries and wages 142,376 142,376 147,076 Employee benefits 123,586 113,586 104,477 Services and supplies 779,690 839,690 864,724

1,045,652 1,095,652 1,116,277

ClerkSalaries and wages 585,774 585,774 578,751 Employee benefits 309,434 309,434 305,097 Services and supplies 49,964 49,964 32,304

945,172 945,172 916,152

Clerk ElectionsServices and supplies 100,000 100,000 44,092

County ManagerSalaries and wages 255,405 255,405 250,995 Employee benefits 113,073 113,073 110,984 Services and supplies 16,336 16,336 8,160

384,814 384,814 370,139

ComptrollerSalaries and wages 427,840 427,840 427,428 Employee benefits 248,553 248,553 239,403 Services and supplies 47,275 47,275 43,719

723,668 723,668 710,550

Comptroller - CollectionsSalaries and wages 54,892 54,892 54,817 Employee benefits 30,196 30,196 29,244 Services and supplies 17,000 17,000 6,570

102,088 102,088 90,631

(Page 3 of 8)


52

FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUALGENERAL FUND

ELKO COUNTY

BUDGETORIGINAL FINAL

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN REQUIRED SUPPLEMENTARY INFORMATION


690,797 26,861,567

(4,700) 136,203 9,109 106,576

(25,034) 845,118

(20,625) 1,087,897

7,023 554,490 4,337 286,138

17,660 43,938

29,020 884,566

55,908 39,750

4,410 246,604 2,089 101,520 8,176 11,332

14,675 359,456

412 410,627 9,150 233,834 3,556 28,037

13,118 672,498

75 52,167 952 27,623

10,430 6,496

11,457 86,286


ACTUAL Assessor

Salaries and wages 757,971 757,971 753,871 Employee benefits 404,881 404,881 399,109 Services and supplies 78,058 78,058 49,916

1,240,910 1,240,910 1,202,896

RecorderSalaries and wages 196,863 196,863 195,759 Employee benefits 103,329 103,329 102,553 Services and supplies 22,275 22,275 23,664

322,467 322,467 321,976

Treasurer Salaries and wages 253,506 253,506 254,034 Employee benefits 133,204 133,204 131,896 Services and supplies 76,700 76,700 54,728

463,410 463,410 440,658

Data ProcessingSalaries and wages 328,515 318,515 289,652 Employee benefits 163,505 153,505 138,604 Services and supplies 355,730 375,730 370,137

847,750 847,750 798,393

Buildings and GroundsSalaries and wages 349,250 349,250 348,630 Employee benefits 209,896 209,896 207,380 Services and supplies 459,000 459,000 390,910

1,018,146 1,018,146 946,920

Totals, General Government 7,194,077 7,244,077 6,958,684

Public Safety:Sheriff Operations

Salaries and wages 3,486,474 3,611,474 3,799,016 Employee benefits 2,145,822 2,145,822 2,176,892 Services and supplies 775,255 861,510 942,702

6,407,551 6,618,806 6,918,610

GENERAL FUND

ELKO COUNTY


53



(Page 4 of 8)




4,100 731,071 5,772 377,749

28,142 43,202

38,014 1,152,022

1,104 183,733 776 95,918

(1,389) 16,773

491 296,424

(528) 242,812 1,308 124,552

21,972 60,369

22,752 427,733

28,863 311,558 14,901 151,727

5,593 350,570

49,357 813,855

620 332,873 2,516 192,677

68,090 382,130

71,226 907,680

285,393 6,728,167

(187,542) 3,601,202 (31,070) 2,041,309 (81,192) 920,219

(299,804) 6,562,730


ACTUAL Sheriff Grants

Services and supplies - - -

- - -

Public Safety GrantsSalaries and wages - 169,742 169,742 Employee benefits - 95,274 95,274

- 265,016 265,016

Jail OperationsSalaries and wages 1,865,401 1,865,401 1,804,615 Employee benefits 1,247,886 1,122,886 1,144,082 Services and supplies 1,360,165 1,405,165 1,322,665 Capital outlay - 25,000 59,249

4,473,452 4,418,452 4,330,611

Jail Inmate CommunicationServices and supplies 75,000 80,000 78,307

N.E. Area Fire ProtectionSalaries and wages - - - Employee benefits - - - Services and supplies - - -

- - -

N.E. Area Fire Protection GrantsServices and supplies - 24,204 24,204

Elko County Fire ProtectionSalaries and wages 989,466 989,466 971,279 Employee benefits 562,829 562,829 573,984 Services and supplies 996,682 991,682 923,021

2,548,977 2,543,977 2,468,284

Totals, Public Safety 13,504,980 13,950,455 14,085,032

Judicial:District Court I


347,909 332,909 314,459

54


(Page 5 of 8)

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUAL

GENERAL FUND




- 83,815

- 83,815

- 28,022 - 19,322

- 47,344

60,786 1,696,279 (21,196) 1,040,326 82,500 1,305,650

(34,249) -

87,841 4,042,255

1,693 58,175

- 722,578 - 233,359 - 529,786

- 1,485,723

- -

18,187 287,493 (11,155) 95,857 68,661 378,044

75,693 761,394

(134,577) 13,041,436

3,666 147,342 6,290 79,695 8,494 84,382

18,450 311,419


ACTUAL District Court DUI Diversion Program

Services and supplies 40,000 40,000 35,604

District Court IISalaries and wages 267,622 267,622 267,740 Employee benefits 131,281 131,281 134,954 Services and supplies 12,725 12,725 10,389

411,628 411,628 413,083

District AttorneySalaries and wages 1,593,303 1,593,303 1,595,774 Employee benefits 793,548 793,548 775,532 Services and supplies 163,250 163,250 143,605

2,550,101 2,550,101 2,514,911

Elko Justice CourtSalaries and wages 1,046,185 1,076,185 1,076,024 Employee benefits 532,180 512,180 509,572 Services and supplies 87,200 126,200 129,484 Capital outlay 20,000 6,000 -

1,685,565 1,720,565 1,715,080

Carlin Justice CourtSalaries and wages 135,986 147,986 150,359 Employee benefits 78,971 81,971 83,490 Services and supplies 24,750 24,750 21,938 Capital outlay 5,000 5,000 -

244,707 259,707 255,787

Jackpot Justice CourtSalaries and wages 88,924 88,924 87,370 Employee benefits 46,770 46,770 45,815 Services and supplies 29,500 29,500 15,467 Capital outlay - - -

165,194 165,194 148,652

Eastline Justice CourtSalaries and wages 37,112 37,112 37,399 Employee benefits 24,311 24,311 24,269 Services and supplies 156,053 193,053 193,150 Capital outlay 8,000 6,000 -

225,476 260,476 254,818

55

BUDGET


(Page 6 of 8)


ELKO COUNTY

ORIGINAL FINAL



GENERAL FUND


4,396 35,036

(118) 262,531 (3,673) 127,769 2,336 14,345

(1,455) 404,645

(2,471) 1,597,296 18,016 732,246 19,645 181,860

35,190 2,511,402

161 1,037,731 2,608 490,529

(3,284) 113,665 6,000 -

5,485 1,641,925

(2,373) 98,047 (1,519) 55,901 2,812 43,706 5,000 -

3,920 197,654

1,554 89,383 955 44,299

14,033 19,268 - 6,478

16,542 159,428

(287) 36,315 42 23,272

(97) 156,397 6,000 -

5,658 215,984


ACTUAL Wells Justice of Peace

Salaries and wages 205,693 205,693 207,080 Employee benefits 116,392 116,392 118,375 Services and supplies 30,450 30,450 21,187 Capital outlay 12,000 12,000 -

364,535 364,535 346,642

Judicial Law LibrarySalaries and wages 8,000 8,000 7,942 Employee benefits 912 912 880 Services and supplies 53,254 53,254 51,124

62,166 62,166 59,946

Public DefenderSalaries and wages 892,288 842,288 849,332 Employee benefits 424,732 404,732 396,677 Services and supplies 139,000 139,000 107,804

1,456,020 1,386,020 1,353,813

Court ExpensesServices and supplies 781,000 851,000 929,414

Totals, Judicial 8,334,301 8,404,301 8,342,209

Public Works:Community Development


Totals, Public Works 1,424,719 1,424,719 1,264,831

Health:Public Health


Child WelfareServices and supplies 470,938 492,438 532,357

Totals, Health 828,138 849,638 935,371




GENERAL FUND

(Page 7 of 8)

REQUIRED SUPPLEMENTARY INFORMATIONELKO COUNTY

56


(1,387) 200,024 (1,983) 113,033 9,263 19,968

12,000 -

17,893 333,025

58 6,076 32 698

2,130 36,814

2,220 43,588

(7,044) 884,032 8,055 396,447

31,196 93,621

32,207 1,374,100

(78,414) 731,874

62,092 7,960,080

87,553 840,497 41,247 385,845 31,088 134,202

159,888 1,360,544

(45,814) 305,978

(39,919) 418,519

(85,733) 724,497


ACTUAL Debt Service:

Principal - - - Interest - - -

Totals, Debt Service - - -

Contingency 525,000 225,000 -

Total Expenditures 31,811,215 32,098,190 31,586,127

Excess (Deficiency) of RevenuesOver (Under) Expenditures (4,858,351) (4,754,851) (3,551,991)

OTHER FINANCING SOURCES (USES)

Transfers In:In Lieu of Taxes Trust Fund 3,500,000 3,500,000 3,500,000 County Jail Special Revenue Fund 267,718 267,718 241,843

3,767,718 3,767,718 3,741,843

Transfers Out:Medical Assistance to Indigent Persons Fund - (41,500) (41,500) Child Support Incentive Grant Fund (150,000) (150,000) (150,000) General County Capital Projects Fund (400,000) (400,000) - General County Solid Waste Fund - (50,000) (50,000) Library Special Federal Fund - - - Post Employment Benefit Fund (300,000) (300,000) (300,000) Elko Area Transportation System Fund (75,000) (75,000) (100,000) Senior Citizens Services Fund - (12,000) -

(925,000) (1,028,500) (641,500)

Total Other Financing Sources (Uses) 2,842,718 2,739,218 3,100,343

Net Change in Fund Balances (2,015,633) (2,015,633) (451,648)

FUND BALANCES, July 1, 3,708,665 3,708,665 4,605,601

FUND BALANCES, June 30 $ 1,693,032 $ 1,693,032 $ 4,153,953

(Page 8 of 8)

ELKO COUNTY


GENERAL FUND

See accompanying notes to required supplementary information.


57




- 20,000 - 600

- 20,600

225,000 -

512,063 29,835,324

1,202,860 (2,973,757)

- 3,500,000 (25,875) 281,181

(25,875) 3,781,181

- (178,284) - (100,000)

400,000 (500,000) - (60,000) - (17,000) - (400,000)

(25,000) (40,849) 12,000 -

387,000 (1,296,133)

361,125 2,485,048

1,563,985 (488,709)

896,936 5,094,310

$ 2,460,921 $ 4,605,601

REVENUESTaxes $ 9,029,091 $ - $ - $ - Licenses and permits 843,282 - - - Intergovernmental 13,058,278 3,754,574 - - Charges for services 2,853,434 - - - Fines and forfeitures 1,305,899 - - - Miscellaneous 944,152 26,455 - -

Total Revenues 28,034,136 3,781,029 - -


General government 6,958,684 - 352 - Public safety 14,085,032 - - - Judicial 8,342,209 - - - Public works 1,264,831 - - - Health 935,371 - - -

Debt Service - - - -

Total Expenditures 31,586,127 - 352 -

Excess (Deficiency) ofRevenues Over Expenditures (3,551,991) 3,781,029 (352) -

OTHER FINANCING SOURCES (USES)Transfers in 3,741,843 - - - Transfers out (641,500) (5,500,000) - -

Total Other Financing Sources (Uses) 3,100,343 (5,500,000) - -

Net Change in Fund Balances (451,648) (1,718,971) (352) -

FUND BALANCES, July 1 4,605,601 7,429,648 278,786 34,041

FUND BALANCES, June 30 $ 4,153,953 $ 5,710,677 $ 278,434 $ 34,041

GENERAL IN LIEU OF

(BUDGET BASIS)FUND

FUNDTAXES TRUST

ELKO COUNTY

RECONCILIATION OF THE GENERAL FUND (BUDGETARY BASIS) TO THE

NORTHEASTERNNEVADA

(Page 1 of 2)


CENTER FUNDRAILPORT FUNDINTERPRETIVEREGIONAL

58

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GENERAL FUND (GAAP BASIS)

FOR THE YEAR ENDED JUNE 30, 2016(With Comparative Amounts for the Year Ended June 30, 2015)

$ - $ - - - - - - - - -

8,463 9,728

8,463 9,728

38,858 311,433 - - - - - - - - - -

38,858 311,433

(30,395) (301,705)

- 300,000 - -

- 300,000

(30,395) (1,705)

338,163 1,247,280

$ 307,768 $ 1,245,575

POSTEMPLOYMENTBENEFIT FUND

LIABILITYRESERVE FUND

UNEMPLOYMENTINSURANCE

GENERAL FUND

(GAAP BASIS)REVENUES

Taxes $ - $ - $ - $ 9,029,091 Licenses and permits - - - 843,282 Intergovernmental - - - 16,812,852 Charges for services - - - 2,853,434 Fines and forfeitures - - - 1,305,899 Miscellaneous - - - 988,798

Total Revenues - - - 31,833,356


General government 40,070 - - 7,349,397 Public safety - - - 14,085,032 Judicial - - - 8,342,209 Public works - - - 1,264,831 Health - - - 935,371

Debt Service - - - -

Total Expenditures 40,070 - - 31,976,840

Excess (Deficiency) ofRevenues Over Expenditures (40,070) - - (143,484)

OTHER FINANCING SOURCES (USES)Transfers in - - (3,800,000) 241,843 Transfers out - - 3,800,000 (2,341,500)

Total Other Financing Sources (Uses) - - - (2,099,657)

Net Change in Fund Balances (40,070) - - (2,243,141)

FUND BALANCES, July 1 200,000 76,089 - 14,209,608

FUND BALANCES, June 30 $ 159,930 $ 76,089 $ - $ 11,966,467

59

(Page 2 of 2)


VACATIONBENEFITS FUND INCOME FUND

BONDELIMINATIONS

FUND BALANCES - GENERAL FUND (GAAP BASIS)FOR THE YEAR ENDED JUNE 30, 2016

ELKO COUNTY

RECONCILIATION OF THE GENERAL FUND (BUDGETARY BASIS) TO THE

(With Comparative Amounts for the Year Ended June 30, 2015)


STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN

$ 8,949,400 878,704

15,275,488 2,626,889 1,403,929 1,009,931

30,144,341

7,068,881 13,041,436

7,960,080 1,360,544

724,497 20,600

30,176,038

(31,697)

281,181 (896,133)

(614,952)

(646,649)

14,856,257

$ 14,209,608

2015

ACTUALREVENUES

Intergovernmental Resources:County option motor vehicle $ 0.04 fuel taxes $ 2,000,000 $ 2,000,000 $ 2,733,822 Federal grant - - 128,595

2,000,000 2,000,000 2,862,417

Miscellaneous:Other - - 1,566 Investment earnings 25,000 25,000 33,779

25,000 25,000 35,345

Total Revenues 2,025,000 2,025,000 2,897,762

EXPENDITURES Public Works:

Services and supplies 2,500,000 2,500,000 2,276,596 Capital outlay 1,807,387 1,807,387 120,787


Net Change in Fund Balances (2,282,387) (2,282,387) 500,379

FUND BALANCES, July 1 2,282,387 2,282,387 4,712,975

FUND BALANCES, June 30 $ - $ - $ 5,213,354

ORIGINAL

FOR THE YEAR ENDED JUNE 30, 2016(With Comparative Actual Amounts for the Year Ended June 30, 2015)

FINAL


60

BUDGET

REGIONAL STREET AND HIGHWAY FUND


SCHEDULE OF REVENUES, EXPENDITURES, ANDCHANGES IN FUND BALANCES - BUDGET AND ACTUAL

2015

$ 733,822 $ 2,701,725 128,595 -

862,417 2,701,725

1,566 - 8,779 49,535

10,345 49,535

872,762 2,751,260

223,404 2,480,955 1,686,600 585,717

1,910,004 3,066,672

2,782,766 (315,412)

2,430,588 5,028,387

$ 5,213,354 $ 4,712,975

FINAL BUDGETVARIANCE TO

ACTUALREVENUES

Intergovernmental Resources:Motor vehicle fuel tax, $ .0235 $ 1,190,000 $ 1,190,000 $ 1,187,193 Federal grants - - 13,676

1,190,000 1,190,000 1,200,869

Miscellaneous:Investment earnings 5,000 5,000 1,387

Total Revenues 1,195,000 1,195,000 1,202,256

EXPENDITURESPublic Works:


Excess (Deficiency) of Revenues Over (Under) Expenditures 1,070,508 1,070,508 1,135,594

OTHER FINANCING SOURCES (USES)Transfers Out:

Road Fund (1,300,000) (1,300,000) (1,300,000)

Net Change in Fund Balances (229,492) (229,492) (164,406)

FUND BALANCES, July 1 229,492 229,492 233,019

FUND BALANCES, June 30 $ - $ - $ 68,613

61

BUDGETORIGINAL


ROAD CONSTRUCTION FUND

FINAL



REQUIRED SUPPLEMENTARY INFORMATIONELKO COUNTY

2015

$ (2,807) $ 1,187,193 13,676 23,789

10,869 1,210,982

(3,613) 6,269

7,256 1,217,251

57,830 66,708

65,086 1,150,543

- (1,300,000)

65,086 (149,457)

3,527 382,476

$ 68,613 $ 233,019


ACTUALREVENUES

Property Taxes:Secured roll $ 157,697 $ 157,697 $ 146,937 Personal property roll - - 4,049 Unsecured, other - - 5,354

157,697 157,697 156,340

Licenses and Permits:County gaming licenses 175,000 175,000 182,781 Other licenses - - 86

175,000 175,000 182,867

Intergovernmental Revenues:Consolidated tax 1,100,000 1,100,000 1,382,127 Federal grants - 648,673 648,673

1,100,000 1,748,673 2,030,800

Miscellaneous:Other - - 2,005

Total Revenues 1,432,697 2,081,370 2,372,012


Executive Town BoardSalaries and wages 53,617 53,617 48,410 Employee benefits 27,921 27,921 26,040 Services and supplies 97,500 97,500 82,912

179,038 179,038 157,362

Buildings/Grounds:Salaries and wages 6,890 6,890 6,669 Employee benefits 794 794 764 Services and supplies 60,672 53,672 42,489 Capital outlay - 7,000 7,000

68,356 68,356 56,922

Totals, General Government 247,394 247,394 214,284

Public Safety:Sheriff Operations


(Page 1 of 3)



SCHEDULE OF REVENUES, EXPENDITURES, AND

62

CHANGES IN FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUALTOWN OF JACKPOT - GENERAL FUNDFOR THE YEAR ENDED JUNE 30, 2016


$ (10,760) $ 155,101 4,049 5,122 5,354 5,459

(1,357) 165,682

7,781 219,406 86 -

7,867 219,406

282,127 1,323,315 - 131,198

282,127 1,454,513

2,005 6,151

290,642 1,845,752

5,207 51,494 1,881 27,524

14,588 84,863

21,676 163,881

221 7,064 30 827

11,183 50,323 - -

11,434 58,214

33,110 222,095

- 551,902

2015VARIANCE TO

FINAL BUDGET

ACTUAL Fire


296,779 296,779 285,331

Totals, Public Safety 896,779 896,779 885,331

Public Works:Paved Streets


Airport OperationsServices and supplies 90,320 90,320 36,791 Capital outlay - 648,673 771,688

90,320 738,993 808,479

Engineering and Public WorksSalaries and wages 168,953 174,953 176,730 Employee benefits 82,949 87,949 91,900 Services and supplies 65,800 54,800 38,724 Capital outlay - - 60,000

317,702 317,702 367,354

Totals, Public Works 478,022 1,126,695 1,182,748

Health:Public Health Services

Services and supplies 10,000 10,000 -

Contingency 20,000 20,000 -


Excess (Deficiency) of Revenues Over (Under) Expenditures (219,498) (219,498) 89,649

CHANGES IN FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUALTOWN OF JACKPOT - GENERAL FUNDFOR THE YEAR ENDED JUNE 30, 2016

(With Comparative Actual Amounts for the Year Ended June 30, 2015)(Page 2 of 3)

63

FINALBUDGET

ORIGINAL




5,391 115,576 8,312 79,470

(2,255) 81,950

11,448 276,996

11,448 828,898

63,085 42,983

53,529 15,865 (123,015) 120,013

(69,486) 135,878

(1,777) 181,239 (3,951) 81,905 16,076 67,434

(60,000) 96,048

(49,652) 426,626

(56,053) 605,487

10,000 -

20,000 -

18,505 1,656,480

309,147 189,272

ACTUALOTHER FINANCING SOURCES (USES)

Transfers In:Town of Jackpot Water Enterprise Fund 30,000 30,000 30,000 Town of Jackpot Sewer Enterprise Fund 30,000 30,000 30,000 Town of Jackpot Waste Disposal Enterprise Fund 30,000 30,000 30,000

90,000 90,000 90,000

Transfers Out:Town of Jackpot Recreation Fund (175,000) (175,000) (175,000) Town of Jackpot Capital Projects Fund (25,000) (25,000) (25,000) Town of Jackpot Public Safety Capital Projects Fund (50,000) (50,000) (50,000)

(250,000) (250,000) (250,000)

Total Other Financing Sources (Uses) (160,000) (160,000) (160,000)


FUND BALANCES, July 1 529,978 529,978 790,531

FUND BALANCES, June 30 $ 150,480 $ 150,480 $ 720,180


64

FINALORIGINAL

SCHEDULE OF REVENUES, EXPENDITURES, ANDCHANGES IN FUND BALANCES - BUDGET (BUDGETARY BASIS) AND ACTUAL

TOWN OF JACKPOT - GENERAL FUNDFOR THE YEAR ENDED JUNE 30, 2016



BUDGET

- 25,000 - 25,000 - 25,000

- 75,000

- (200,000) - (85,000) - (50,000)

- (335,000)

- (260,000)

309,147 (70,728)

260,553 861,259

$ 569,700 $ 790,531

2015


REVENUESTaxes $ 156,340 $ - $ - $ 156,340 $ 165,682 Licenses and permits 182,867 - - 182,867 219,406 Intergovernmental 2,030,800 - - 2,030,800 1,454,513 Miscellaneous 2,005 1,478 - 3,483 7,656

Total Revenues 2,372,012 1,478 - 2,373,490 1,847,257


General government 214,284 - - 214,284 222,095 Public safety 885,331 - - 885,331 828,898 Public works 1,182,748 - - 1,182,748 605,487

Total Expenditures 2,282,363 - - 2,282,363 1,656,480

Excess (Deficiency) ofRevenues Over Expenditures 89,649 1,478 - 91,127 190,777

OTHER FINANCING SOURCES (USES)Transfers in 90,000 - - 90,000 75,000 Transfers out (250,000) - - (250,000) (335,000)

Total Other Financing Sources (Uses) (160,000) - - (160,000) (260,000)

Net Change in Fund Balances (70,351) 1,478 - (68,873) (69,223)

FUND BALANCES, July 1 790,531 429 - 790,960 860,183

FUND BALANCES, June 30 $ 720,180 $ 1,907 $ - $ 722,087 $ 790,960


FUND FUND

UNEMPLOYMENTINSURANCEGENERAL

JACKPOT JACKPOTGENERAL

65

(With Comparative Amounts for the Year Ended June 30, 2015)

ELIMINATIONS 2015


RECONCILIATION OF THE TOWN OF JACKPOT GENERAL FUND (BUDGETARY BASIS) TO THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN

FUND BALANCES - TOWN OF JACKPOT GENERAL FUND (GAAP BASIS)

LIABILITY


TOWN OF TOWN OF

(GAAP BASIS)RESERVE(BUDGET BASIS)

ELKO COUNTY

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION JUNE 30, 2016

66

Note 1 – Budgetary Reconciliations: The accompanying Reconciliation of the General Fund (Budgetary Basis) to the General Fund (GAAP

Basis) and Reconciliation of the Town of Jackpot General Fund (Budgetary Basis) to the Town of Jackpot General Fund (GAAP Basis) present balances combined for external reporting purposes. Budget to actual comparisons are presented for all funds of the County as required by Nevada Revised Statutes. Such budget comparisons are required to be presented using the budget as adopted, and approved by the State of Nevada Department of Taxation. However, guidance provided in governmental accounting standards specify that eight of these internally reported funds of Elko County do not meet the definition of special revenue funds and therefore do not qualify to be separately presented for external reporting purposes. The In Lieu of Taxes Trust Fund, the Northeastern Nevada Regional Railport Fund, the Interpretive Center Fund, the Unemployment Insurance Liability Reserve Fund, the Post Employment Benefit Fund, the Vacation Benefits Fund, and the Bond Income Fund are combined with the General Fund for external reporting purposes. The Town of Jackpot Unemployment Insurance Liability Reserve Fund is combined with the Town of Jackpot General Fund for external reporting purposes.


SUPPLEMENTARY INFORMATION

ASSETSCash and investments $ 3,749,718 $ 5,439,702 $ 278,466 $ 34,041 Interest receivable 10,467 20,975 - - Accounts receivable 281,638 - - - Taxes receivable, delinquent 62,034 - - - Due from other funds 190,000 250,000 - - Due from other governments 2,196,355 - - -

Total Assets $ 6,490,212 $ 5,710,677 $ 278,466 $ 34,041

LIABILITIESAccounts payable $ 405,400 $ - $ 32 $ - Accrued liabilities 1,288,224 - - - Due to other governments 128,182 - - - Funds held in trust 452,419 - - -

Total Liabilities 2,274,225 - 32 -

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - delinquent property taxes 62,034 - - -

FUND BALANCESRestricted:

Unemployment insurance reserve - - - - Committed:

Northeastern Nevada Regional Railport - - 278,434 - Assigned:

Subsequent year operations 1,697,997 - - - Post employment benefits - - - - Vacation benefits - - - -

Unassigned 2,455,956 5,710,677 - 34,041

Total Fund Balances 4,153,953 5,710,677 278,434 34,041

Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 6,490,212 $ 5,710,677 $ 278,466 $ 34,041

ELKO COUNTY

67

NORTHEASTERN

REGIONAL INTERPRETIVE

COMBINING BALANCE SHEETRECONCILIATION OF THE GENERAL FUND (BUDGETARY BASIS) TO THE

GENERAL FUND (GAAP BASIS)JUNE 30, 2016

(With Comparative Totals at June 30, 2015)

NEVADA

(Page 1 of 2)

(BUDGET BASIS) RAILPORT FUND CENTER FUND

GENERAL

FUNDTAXES TRUST

IN LIEU OFFUND

$ 316,812 $ 1,240,823 $ 159,930 - 4,752 - - - - - - - - - - - - -

$ 316,812 $ 1,245,575 $ 159,930

$ 9,044 $ - $ - - - - - - - - - -

9,044 - -

- - -

307,768 - -

- - -

- - - - 1,245,575 - - 159,930 - - -

307,768 1,245,575 159,930

$ 316,812 $ 1,245,575 $ 159,930

INSURANCE

BENEFITS FUNDEMPLOYMENTLIABILITY VACATION

UNEMPLOYMENTPOST

RESERVE FUND BENEFIT FUND

ASSETSCash and investments $ 76,089 $ - $ 11,295,581 $ 13,005,861 Interest receivable - - 36,194 50,173 Accounts receivable - - 281,638 222,652 Taxes receivable, delinquent - - 62,034 155,517 Due from other funds - - 440,000 683,672 Due from other governments - - 2,196,355 2,687,879

Total Assets $ 76,089 $ - $ 14,311,802 $ 16,805,754

LIABILITIESAccounts payable $ - $ - $ 414,476 $ 670,666 Accrued liabilities - - 1,288,224 1,203,394 Due to other governments - - 128,182 42,706 Funds held in trust - - 452,419 523,863

Total Liabilities - - 2,283,301 2,440,629

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - delinquent property taxes - - 62,034 155,517


Unemployment insurance reserve - - 307,768 338,163 Committed:

Northeastern Nevada Regional Railport - - 278,434 278,786 Assigned:

Subsequent year operations - - 1,697,997 2,055,633 Post employment benefits - - 1,245,575 1,247,280 Vacation benefits - - 159,930 200,000

Unassigned 76,089 - 8,276,763 10,089,746

Total Fund Balances 76,089 - 11,966,467 14,209,608

Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 76,089 $ - $ 14,311,802 $ 16,805,754

BOND

ELKO COUNTY


2015

COMBINING BALANCE SHEET

(Page 2 of 2)

68

JUNE 30, 2016

ELIMINATIONS (GAAP BASIS)FUND

GENERAL

RECONCILIATION OF THE GENERAL FUND (BUDGETARY BASIS) TO THE GENERAL FUND (GAAP BASIS)

INCOME FUND

ASSETSCash and investments $ 515,297 $ 1,907 $ - $ 517,204 $ 598,961 Accounts receivable 130 - - 130 1,109 Taxes receivable, delinquent 1,288 - - 1,288 3,785 Due from other governments 412,418 - - 412,418 268,596

Total Assets $ 929,133 $ 1,907 - $ 931,040 $ 872,451

LIABILITIESAccounts payable $ 7,362 $ - $ - $ 7,362 $ 49,298 Accrued Liabilities 28,393 - - 28,393 28,408

Total Liabilities 35,755 - - 35,755 77,706

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - grants 171,910 - - 171,910 - Unavailable revenue -

delinquent property taxes 1,288 - - 1,288 3,785

173,198 - - 173,198 3,785


Town 720,180 - - 720,180 790,531 Unemployment insurance reserve - 1,907 1,907 429

Unassigned - - - - -

Total Fund Balances 720,180 1,907 - 722,087 790,960

Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 929,133 $ 1,907 $ - $ 931,040 $ 872,451

TOWN OF

(GAAP BASIS)FUND

GENERAL JACKPOT

(BUDGET BASIS) 2015FUND

JACKPOT UNEMPLOYMENTINSURANCELIABILITYRESERVE

GENERAL

ELIMINATIONS

TOWN OF


69

JUNE 30, 2016

ELKO COUNTYTOWN OF JACKPOT

COMBINING BALANCE SHEETRECONCILIATION OF THE TOWN OF JACKPOT GENERAL FUND (BUDGETARY BASIS)

TO THE TOWN OF JACKPOT GENERAL FUND (GAAP BASIS)

MAJOR GOVERNMENTAL FUNDS

VARIANCE TOACTUAL FINAL BUDGET 2015

REVENUESIntergovernmental Resources:

Grant in aid $ - $ 73,664 $ 73,664 $ 94,664 Miscellaneous:

Investment earnings - - - (2,416)

- 73,664 73,664 92,248


Services and supplies 2,886,924 308,184 2,578,740 460,329 Capital outlay 1,200,000 1,339,854 (139,854) 4,470,144 Debt Service

Principal - 119,152 (119,152) -

Total Expenditures 4,086,924 1,767,190 2,319,734 4,930,473

Excess (Deficiency) of RevenuesOver (Under) Expenditures (4,086,924) (1,693,526) 2,393,398 (4,838,225)

OTHER FINANCING SOURCES (USES)Proceeds from medium term obligation - 548,249 548,249 - Transfers In:

General County General Fund 400,000 - (400,000) 500,000 General County Debt Service Fund - - - - In Lieu Of Taxes Fund 2,000,000 2,000,000 - -

Total Other Financing Sources (Uses) 2,400,000 2,548,249 148,249 500,000

Net Change in Fund Balances (1,686,924) 854,723 2,541,647 (4,338,225)

FUND BALANCES, July 1 1,686,924 680,699 (1,006,225) 5,018,924

FUND BALANCES, June 30 $ - $ 1,535,422 $ 1,535,422 $ 680,699

BUDGET

GENERAL COUNTY CAPITAL PROJECTS FUNDFOR THE YEAR ENDED JUNE 30, 2016

GENERAL COUNTYSCHEDULE OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

ELKO COUNTY


70


NON-MAJOR GOVERNMENTAL FUNDS .

ASSETSCash and investments $ 4,249,595 $ 18,875 $ 705,751 Accounts receivable 67,245 - - Taxes receivable, delinquent 28,318 - 6,036 Due from other governments 933,522 - -

Total Assets $ 5,278,680 $ 18,875 $ 711,787

LIABILITIESAccounts payable $ 354,138 $ - $ - Accrued liabilities 389,949 - - Due to other funds 50,000 - - Due to other governments 29,737 - 79,897 Unearned revenue 195,811 - -

Total Liabilities 1,019,635 - 79,897

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - delinquent property taxes 28,556 - 6,035


Towns 164,528 - - Capital projects - - 625,855 Road projects 591,779 - - Indigent 75,689 - - Public safety 107,561 - - Judicial 808,954 - - Culture and recreation 139,071 - - Community support 25,746 - - Recorder's technology 19,683 - - Assessor's technology 632,798 - -

Committed:Judicial 355,459 - - Culture and recreation 933,401 - -

Assigned:Culture and recreation 335,047 - - Judicial 61,259 - -

Unassigned (deficit) (20,486) 18,875 -

Total Fund Balances 4,230,489 18,875 625,855

Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 5,278,680 $ 18,875 $ 711,787


GENERAL COUNTY

71

PROJECTSREVENUECAPITALSPECIAL

FUNDDEBT SERVICE

ELKO COUNTYCOMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDSJUNE 30, 2016

$ 4,974,221 $ 5,898,805 67,245 58,258 34,354 79,658

933,522 1,319,844

$ 6,009,342 $ 7,356,565

$ 354,138 $ 670,716 389,949 348,660

50,000 56,721 109,634 395,111 195,811 180,382

1,099,532 1,651,590

34,591 79,898

164,528 149,171 625,855 1,017,759 591,779 362,956

75,689 218,929 107,561 98,140 808,954 1,119,455 139,071 134,273

25,746 - 19,683 94,184

632,798 643,203

355,459 437,054 933,401 964,358

335,047 331,862 61,259 40,880 (1,611) 12,853

4,875,219 5,625,077

$ 6,009,342 $ 7,356,565

2015TOTAL

REVENUESProperty taxes $ 4,223,947 $ - $ 915,453 Other taxes 330,173 - - Licenses and permits 3,256 - - Intergovernmental resources 5,909,735 - 24,067 Charges for services 769,925 - - Fines and forfeits 51,224 - - Miscellaneous 33,571 - 52

Total Revenues 11,321,831 - 939,572


General government 354,225 - 1,262,676 Public safety 192,271 - 143,800 Judicial 4,756,192 - - Public works 2,529,353 - - Welfare 2,647,612 - - Culture and recreation 2,175,222 - - Community support 448,817 - -

Debt service:Paying agent fees - 750 - Principal - - - Interest - - -

Total Expenditures 13,103,692 750 1,406,476

Excess (Deficiency) of Revenues Over (Under) Expenditures (1,781,861) (750) (466,904)

OTHER FINANCING SOURCES (USES)Transfers in 1,666,500 - 75,000 Transfers out (241,843) - -

Total Other Financing Sources (Uses) 1,424,657 - 75,000

Net Change in Fund Balances (357,204) (750) (391,904)

FUND BALANCES, July 1 4,587,693 19,625 1,017,759

FUND BALANCES, June 30 $ 4,230,489 $ 18,875 $ 625,855

72

COMBINING STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDSFOR THE YEAR ENDED JUNE 30, 2016

(With Comparative Totals for the Year Ended June 30, 2015)

GENERAL COUNTY

PROJECTSDEBT SERVICE

FUND

ELKO COUNTY

REVENUECAPITALSPECIAL

$ 5,139,400 $ 4,753,280 330,173 335,841

3,256 4,163 5,933,802 5,940,905

769,925 579,115 51,224 122,051 33,623 54,630

12,261,403 11,789,985

1,616,901 1,074,940 336,071 295,243

4,756,192 4,289,406 2,529,353 2,568,682 2,647,612 2,257,394 2,175,222 2,108,584

448,817 431,796

750 2,250 - 25,000 - 750

14,510,918 13,054,045

(2,249,515) (1,264,060)

1,741,500 1,930,284 (241,843) (281,181)

1,499,657 1,649,103

(749,858) 385,043

5,625,077 5,240,034

$ 4,875,219 $ 5,625,077

TOTAL 2015


NON-MAJOR SPECIAL REVENUE FUNDS

Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for specified purposes.

ASSETSCash and investments $ 519,210 $ 36,918 $ 158,625 $ 155,826 Taxes receivable, delinquent - 3,295 1,207 3,315 Accounts receivable 7,753 - - - Due from other governments 224,546 114,403 - 109,502

Total Assets $ 751,509 $ 154,616 $ 159,832 $ 268,643


Accounts payable $ 48,965 $ 49,013 $ 15,228 $ 8,970 Accrued liabilities 110,765 26,619 4,481 56,042 Due to other governments - - - - Unearned revenue - - - -

Total Liabilities 159,730 75,632 19,709 65,012

Deferred inflows of resources:Unavailable revenue - delinquent property taxes - 3,295 1,207 3,315


Towns - - - - Road projects 591,779 - - - Indigent - 75,689 - - Public safety - - - - Judicial - - - - Culture and recreation - - 138,916 - Community support - - - - Recorder's technology - - - - Assessor's technology - - - -

Committed:Judicial - - - - Culture and recreation - - - 200,316

Assigned:Culture and recreation - - - - Judicial - - - -

Unassigned (deficit) - - - -

Total Fund Balances (Deficit) 591,779 75,689 138,916 200,316

Total Liabilities, Deferred Inflows of Resourcesand Fund Balances $ 751,509 $ 154,616 $ 159,832 $ 268,643

COMBINING BALANCE SHEETNONMAJOR SPECIAL REVENUE FUNDS

JUNE 30, 2016

GENERAL COUNTY

(Page 1 of 3)

ELKO COUNTY

(With Comparative Totals for June 30, 2015)

INDIGENT

73

AGRICULTURALEXTENSION LIBRARYROAD

$ 313,993 $ 67,457 $ 41,547 $ 25,746 $ 17,793 7,601 - - 2,414 1,675

11,089 638 - - - 262,411 - - - -

$ 595,094 $ 68,095 $ 41,547 $ 28,160 $ 19,468

$ 14,404 $ 129 $ 1,086 $ - $ - 134,512 - 4,789 - -

29,737 - - - - 53,381 - 35,517 - -

232,034 129 41,392 - -

7,601 - - 2,414 1,675

- - - - - - - - - - - - - - - - - - - 17,793 - - - - - - - 155 - - - - 25,746 - - - - - - - - - - -

355,459 - - - - - - - - -

- 67,966 - - - - - - - - - - - - -

355,459 67,966 155 25,746 17,793

$ 595,094 $ 68,095 $ 41,547 $ 28,160 $ 19,468

SENIORCITIZENSSERVICES

LIBRARYSPECIAL

RECREATION

GENERAL COUNTY

FEDERAL

COUNTYJUVENILE

PROBATIONJAIL SPECIAL

REVENUE

ASSETSCash and investments $ 739,483 $ 143,073 $ 1,858 $ 55,031 Taxes receivable, delinquent - 8,084 - - Accounts receivable - - 235 - Due from other governments - - - -

Total Assets $ 739,483 $ 151,157 $ 2,093 $ 55,031


Accounts payable $ 167 $ 160,219 $ 315 $ - Accrued liabilities 6,231 - - - Due to other funds - - - - Due to other governments - - - - Unearned revenue - - - -

Total Liabilities 6,398 160,219 315 -

Deferred inflows of resources:Unavailable revenue - delinquent property taxes - 8,084 - -


Towns - - - - Road projects - - - - Indigent - - - - Public safety - - 1,778 55,031 Judicial - - - - Culture and recreation - - - - Community support - - - - Recorder's technology - - - - Assessor's technology - - - -

Committed:Judicial - - - - Culture and recreation 733,085 - - -

Assigned:Culture and recreation - - - - Judicial - - - -

Unassigned (deficit) - (17,146) - -

Total Fund Balances (Deficit) 733,085 (17,146) 1,778 55,031


SEIZUREFORFEITURE

TO INDIGENT FORENSICSERVICESPERSONS

JUNE 30, 2016


74

ASSISTANCE

GENERAL COUNTY

SERVICE

ELKO COUNTY

NONMAJOR SPECIAL REVENUE FUNDS

LIBRARY

MEDICAL

(With Comparative Totals for June 30, 2015)(Page 2 of 3)

$ 10,487 $ 18,863 $ 732,629 $ 2,891 $ 66,339 - - - - - - - 11,154 - - - 30,105 - 30,438 40,998

$ 10,487 $ 48,968 $ 743,783 $ 33,329 $ 107,337

$ - $ 2,308 $ - $ 370 $ 2,365 - - - - 30,263 - 50,000 - - - - - - - - - - - - 13,450

- 52,308 - 370 46,078

- - - - -

- - - - - - - - - - - - - - - - - - 32,959 -

10,487 - 743,783 - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - 61,259 - (3,340) - - -

10,487 (3,340) 743,783 32,959 61,259

$ 10,487 $ 48,968 $ 743,783 $ 33,329 $ 107,337

LOCAL

CHILDREN COMMISSIONINMATEASSESSMENT

GENERAL COUNTY

ABUSEDCOMMISSARY

ADMINISTRATIVEEMERGENCYPLANNING

BUILDINGINCENTIVE

GRANT FUND

CHILD SUPPORT

(With Comparative Totals for June 30, 2015)

ASSETSCash and investments $ 23,102 $ 74,103 $ 633,262 Taxes receivable, delinquent - - - Accounts receivable - 4,899 - Due from other governments - 116,123 -

Total Assets $ 23,102 $ 195,125 $ 633,262

LIABILITIESAccounts payable $ 3,419 $ 38,931 $ 464 Accrued liabilities - 8,047 - Due to other funds - - - Due to other governments - - - Unearned revenue - 93,463 -

Total Liabilities 3,419 140,441 464

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - delinquent property taxes - - -


Towns - - - Road projects - - - Indigent - - - Public safety - - - Judicial - 54,684 - Culture and recreation - - - Community support - - - Recorder's technology 19,683 - - Assessor's technology - - 632,798

Committed:Judicial - - - Culture and recreation - - -

Assigned:Culture and recreation - - - Judicial - - -

Unassigned (deficit) - - -

Total Fund Balances (Deficit) 19,683 54,684 632,798

Total Liabilities, Deferred Inflows of Resourcesand Fund Balances $ 23,102 $ 195,125 $ 633,262

NONMAJOR SPECIAL REVENUE FUNDSJUNE 30, 2016

RECORDER'SCOURT GRANT

ASSESSOR'S

75

RURAL DRUG TECHNOLOGY

DISTRICT COURT II

GENERAL COUNTY

TECHNOLOGY


(Page 3 of 3)

ELKO COUNTY

2015

$ 248,560 $ 55,237 $ 107,562 $ 4,249,595 $ 4,699,911 - 277 450 28,318 64,908

31,477 - - 67,245 58,258 2,225 1,531 1,240 933,522 1,270,438

$ 282,262 $ 57,045 $ 109,252 $ 5,278,680 $ 6,093,515

$ 6,981 $ 221 $ 583 354,138 523,339 8,200 - - 389,949 348,660

- - - 50,000 56,721 - - - 29,737 331,572 - - - 195,811 180,382

15,181 221 583 1,019,635 1,440,674

- 517 448 28,556 65,148

- 56,307 108,221 164,528 149,171 - - - 591,779 362,956 - - - 75,689 218,929 - - - 107,561 98,140 - - - 808,954 1,119,455 - - - 139,071 134,273 - - - 25,746 - - - - 19,683 94,184 - - - 632,798 643,203

- - - 355,459 437,054 - - - 933,401 964,358

267,081 - - 335,047 331,862 - - - 61,259 40,880 - - - (20,486) (6,772)

267,081 56,307 108,221 4,230,489 4,587,693

$ 282,262 $ 57,045 $ 109,252 $ 5,278,680 $ 6,093,515

MONTELLO MOUNTAIN CITY

GENERAL

TOWN OFTOWN OF JACKPOT

RECREATION

TOWN OF

TOTALGENERAL

REVENUESProperty Taxes $ - $ 500,106 $ 183,094 $ 494,069 Other taxes - - - - Intergovernmental resources 1,301,881 653,710 - 632,150 Charges for services 153,925 - - 5,647 Fines and forfeits - - - 8,796 Miscellaneous 1,362 16,387 - -

Total Revenues 1,457,168 1,170,203 183,094 1,140,662


General government - - - - Public safety - - - - Judicial - - - - Public works 2,528,345 - - - Welfare - 1,244,196 - - Culture and recreation - - 178,277 1,232,170 Community support - - - -

Total Expenditures 2,528,345 1,244,196 178,277 1,232,170

Excess (Deficiency) of RevenuesOver (Under) Expenditures (1,071,177) (73,993) 4,817 (91,508)

OTHER FINANCING SOURCES (USES)Transfers in 1,300,000 - - - Transfers out - - - -

Total Other Financing Sources (Uses) 1,300,000 - - -

Net Change in Fund Balances 228,823 (73,993) 4,817 (91,508)

FUND BALANCES (DEFICIT), July 1 362,956 149,682 134,099 291,824

FUND BALANCES (DEFICIT), June 30 $ 591,779 $ 75,689 $ 138,916 $ 200,316

76

INDIGENT



ELKO COUNTY

AGRICULTURAL

(With Comparative Actual Amounts for the Year Ended June 30, 2015)FOR THE YEAR ENDED JUNE 30, 2016

GENERAL COUNTY

LIBRARYEXTENSIONROAD

(Page 1 of 3)

$ 1,144,938 $ - $ - $ 366,181 $ 247,407 - 4,847 - - -

1,643,401 5,500 103,633 111,814 - 48,823 6,100 - - - 40,036 - - - -

4,970 - - - -

2,882,168 16,447 103,633 477,995 247,407

- - - - - - - - - -

2,963,763 - - - - - - - - - - - - - - - 10,913 103,652 - - - - - 448,817 -

2,963,763 10,913 103,652 448,817 -

(81,595) 5,534 (19) 29,178 247,407

- - - - - - - - - (241,843)

- - - - (241,843)

(81,595) 5,534 (19) 29,178 5,564

437,054 62,432 174 (3,432) 12,229

$ 355,459 $ 67,966 $ 155 $ 25,746 $ 17,793

SERVICESPROBATION

SENIOR

REVENUEFEDERALSPECIALJUVENILE CITIZENS JAIL SPECIAL

GENERAL COUNTY

RECREATION

LIBRARY COUNTY

REVENUESProperty taxes $ - $ 1,273,395 $ - $ - Intergovernmental resources - - - - Charges for services 201,323 - 9,004 - Fines and forfeits - - - 2,392 Miscellaneous - 2,128 3,648 -

Total Revenues 201,323 1,275,523 12,652 2,392


General government - - - - Public safety - - 11,989 8,333 Judicial - - - - Public works - - - - Welfare - 1,403,416 - - Culture and recreation 140,772 - - - Community support - - - -

Total Expenditures 140,772 1,403,416 11,989 8,333

Excess (Deficiency) of RevenuesOver (Under) Expenditures 60,551 (127,893) 663 (5,941)

OTHER FINANCING SOURCES (USES)Transfers in - 41,500 - - Transfers out - - - -

Total Other Financing Sources (Uses) - 41,500 - -

Net Change in Fund Balances 60,551 (86,393) 663 (5,941)


FUND BALANCES (DEFICIT), June 30 $ 733,085 $ (17,146) $ 1,778 $ 55,031

FORFEITURE

77

PERSONSSERVICE

MEDICAL

AND CHANGES IN FUND BALANCES

GENERAL COUNTY

(Page 2 of 3)(With Comparative Actual Amounts for the Year Ended June 30, 2015)

ASSISTANCE

SERVICESFORENSICTO INDIGENT SEIZURELIBRARY


COMBINING STATEMENT OF REVENUES, EXPENDITURES,ELKO COUNTY


ADMINISTRATIVE

$ - $ - $ - $ - $ - - 145,370 124,102 30,438 512,839 145 - - - - - - - - - - - - - -

145 145,370 124,102 30,438 512,839

- - - - - - 145,370 - 21,303 - - - 423,464 - 642,460 - - - - - - - - - - - - - - - - - - - -

- 145,370 423,464 21,303 642,460

145 - (299,362) 9,135 (129,621)

- - - - 150,000 - - - - -

- - - - 150,000

145 - (299,362) 9,135 20,379

10,342 (3,340) 1,043,145 23,824 40,880

$ 10,487 $ (3,340) $ 743,783 $ 32,959 $ 61,259

CHILDREN COMMISSION

GENERAL COUNTY

COMMISSARYBUILDING GRANT FUND

LOCAL

INMATEABUSEDEMERGENCY CHILD SUPPORT

INCENTIVEPLANNING ASSESSMENT

REVENUESProperty taxes $ - $ - $ - Other taxes - - - Licenses and permits - - - Intergovernmental resources - 625,745 - Charges for services 38,202 89,027 214,182 Fines and forfeits - - - Miscellaneous 403 449 4,224

Total Revenues 38,605 715,221 218,406


General government 113,106 - 228,811 Public safety - - - Judicial - 726,505 - Public works - - - Welfare - - - Culture and recreation - - - Community support - - -

Total Expenditures 113,106 726,505 228,811

Excess (Deficiency) of RevenuesOver (Under) Expenditures (74,501) (11,284) (10,405)

OTHER FINANCING SOURCES (USES)Transfers in - - - Transfers out - - -

Total Other Financing Sources (Uses) - - -


FUND BALANCES (DEFICIT), July 1 94,184 65,968 643,203

FUND BALANCES (DEFICIT), June 30 $ 19,683 $ 54,684 $ 632,798

ASSESSOR'SDISTRICT COURT II


AND CHANGES IN FUND BALANCESCOMBINING STATEMENT OF REVENUES, EXPENDITURES,

ELKO COUNTY

(Page 3 of 3)


RECORDER'S RURAL DRUG

GENERAL COUNTY

78

TECHNOLOGY COURT GRANT TECHNOLOGY

GENERAL

$ - $ 6,730 $ 8,027 $ 4,223,947 $ 3,890,004 325,326 - - 330,173 335,841

- 1,386 1,870 3,256 4,163 3,216 8,795 7,141 5,909,735 5,918,779 3,547 - - 769,925 579,115

- - - 51,224 122,051 - - - 33,571 54,630

332,089 16,911 17,038 11,321,831 10,904,583

- 4,100 8,208 354,225 280,213 - 3,602 1,674 192,271 235,543 - - - 4,756,192 4,289,406 - - 1,008 2,529,353 2,568,682 - - - 2,647,612 2,257,394

509,438 - - 2,175,222 2,108,584 - - - 448,817 431,796

509,438 7,702 10,890 13,103,692 12,171,618

(177,349) 9,209 6,148 (1,781,861) (1,267,035)

175,000 - - 1,666,500 1,795,284 - - - (241,843) (281,181)

175,000 - - 1,424,657 1,514,103

(2,349) 9,209 6,148 (357,204) 247,068

269,430 47,098 102,073 4,587,693 4,340,625

$ 267,081 $ 56,307 $ 108,221 $ 4,230,489 $ 4,587,693

TOWN OFMONTELLOTOWN OF JACKPOT MOUNTAIN CITY

TOWN OF

2015RECREATION GENERAL TOTAL



Federal grants:National Forest Service and Fish and Wildlife $ 5,000 $ 5,872 $ 872 $ 6,516

Motor vehicle fuel tax, $.0125 816,000 816,294 294 816,294 Motor vehicle fuel tax, $.0175 330,000 342,793 12,793 345,579 County option NRS 365.196 135,000 136,922 1,922 134,655 Other - - - 585

1,286,000 1,301,881 15,881 1,303,629

Charges for Services:Sales and service - other departments 70,000 153,925 83,925 59,319

Miscellaneous:Investment earnings 1,500 752 (748) (1,342) Roads 5,000 - (5,000) - Other - 610 610 28,250

6,500 1,362 (5,138) 26,908

Total Revenues 1,362,500 1,457,168 94,668 1,389,856

EXPENDITURESPublic Works:

County Road Department:Salaries and wages 1,177,477 1,224,176 (46,699) 1,176,494 Employee benefits 579,235 604,344 (25,109) 569,282 Services and supplies 909,548 635,632 273,916 675,304 Capital outlay 74,124 64,193 9,931 146,046


Excess (Deficiency) of RevenuesOver (Under) Expenditures (1,377,884) (1,071,177) 306,707 (1,177,270)

OTHER FINANCING SOURCES (USES)Transfers In:

Road Construction Fund 1,300,000 1,300,000 - 1,300,000

Net Change in Fund Balances (77,884) 228,823 306,707 122,730

FUND BALANCES, July 1 152,412 362,956 210,544 240,226

FUND BALANCES, June 30 $ 74,528 $ 591,779 $ 517,251 $ 362,956



ELKO COUNTY

ROAD FUND


BUDGET


79


REVENUESProperty Taxes:

Secured roll $ 301,885 $ 305,259 Personal property roll 56,696 56,492 Net proceeds of mines 36,106 8,439 Unsecured, other 105,419 110,464

$ 506,514 500,106 $ (6,408) 480,654

Intergovernmental Resources:Consolidated tax 588,957 642,563 53,606 618,684 Federal/State grants 11,147 11,147 - 6,130

600,104 653,710 53,606 624,814

Miscellaneous - 16,387 16,387 3,240

Total Revenues 1,106,618 1,170,203 63,585 1,108,708

EXPENDITURESWelfare:

General Assistance:Services and supplies 51,988 24,740 27,248 65,386

Medical Assistance:Salaries and wages 312,570 313,806 (1,236) 304,692 Employee benefits 159,220 154,800 4,420 144,342 Services and supplies 662,541 739,703 (77,162) 606,297

1,134,331 1,208,309 (73,978) 1,055,331

Emergency Shelter:Services and supplies - 11,147 (11,147) -

Indigent - Welfare Grant:Services and supplies - - - 6,130

Total Expenditures 1,186,319 1,244,196 (57,877) 1,126,847

Net Change in Fund Balances (79,701) (73,993) 5,708 (18,139)



BUDGET

INDIGENT FUNDFOR THE YEAR ENDED JUNE 30, 2016

80


ELKO COUNTYGENERAL COUNTY





$ 184,787 183,094 $ (1,693) 172,494

EXPENDITURESCulture and Recreation:

Salaries and wages 53,721 52,456 1,265 52,280 Employee benefits 27,573 28,235 (662) 27,234 Services and supplies 90,495 97,586 (7,091) 99,634 Capital Outlay 125,000 - 125,000 -

Total Expenditures 296,789 178,277 118,512 179,148

Net Change in Fund Balances (112,002) 4,817 116,819 (6,654)

FUND BALANCES, July 1 145,761 134,099 (11,662) 140,753



BUDGET

81

AGRICULTURAL EXTENSION FUND






$ 498,289 494,069 $ (4,220) 506,138

Intergovernmental Resources:Consolidated tax 579,393 632,150 52,757 645,717

Charges for Services:Copying, typewriter and computer

user fees 5,000 5,393 393 6,451 Miscellaneous - 254 254 429

5,000 5,647 647 6,880

Fines and Forfeits:Book fines 10,000 8,796 (1,204) 10,016

Total Revenues 1,092,682 1,140,662 47,980 1,168,751


Salaries and wages 659,546 650,601 8,945 629,690 Employee benefits 359,669 331,288 28,381 320,053 Services and supplies 265,956 250,281 15,675 243,098






ELKO COUNTY

82



LIBRARY FUNDCHANGES IN FUND BALANCES - BUDGET AND ACTUAL

BUDGET




$ 1,157,289 1,144,938 $ (12,351) 1,116,930

Intergovernmental Resources:Juvenile Administration Assessment 50,000 31,641 (18,359) 34,625 Consolidated tax 1,345,657 1,468,094 122,437 1,424,228 Federal/State grants 143,666 143,666 - 262,425

1,539,323 1,643,401 104,078 1,721,278

Charges for Services:Detention fees 54,000 42,858 (11,142) 31,038 Drug screening fees 6,000 5,106 (894) 6,820 Public defender fees 20,000 859 (19,141) 2,831

80,000 48,823 (31,177) 40,689

Fines and Forfeitures 40,000 40,036 36 47,849

Miscellaneous:Other - 4,970 4,970 12,246

Total Revenues 2,816,612 2,882,168 65,556 2,938,992

EXPENDITURESJudicial:

Juvenile Probation:Salaries and wages 650,696 627,641 23,055 617,998 Employee benefits 426,380 399,366 27,014 403,171 Services and supplies 267,622 327,291 (59,669) 266,948 Capital outlay 15,000 - 15,000 5,145

1,359,698 1,354,298 5,400 1,293,262

Family Court:Salaries and wages 275,503 273,909 1,594 265,564 Employee benefits 129,170 127,275 1,895 121,692 Services and supplies 15,700 38,808 (23,108) 23,988

435,373 439,992 (4,619) 411,244


83

BUDGET

JUVENILE PROBATION FUND



(Page 1 of 2)


ELKO COUNTY


Detention:Salaries and wages 667,606 662,127 5,479 638,476 Employee benefits 341,724 336,947 4,777 318,440 Services and supplies 126,475 106,737 19,738 121,279

1,135,805 1,105,811 29,994 1,078,195

Grants:Services and supplies 103,666 63,662 40,004 131,571


Net Change in Fund Balances (217,930) (81,595) 136,335 24,720




BUDGET

(Page 2 of 2)


GENERAL COUNTYELKO COUNTY

84

JUVENILE PROBATION FUNDCHANGES IN FUND BALANCES - BUDGET AND ACTUAL


REVENUESOther Taxes:

Room tax $ 14,000 $ 4,847 $ (9,153) $ 6,280

Intergovernmental Resources:Private donations - 5,500 5,500 -

Charges for Services:Lamoille Grove User Fees 1,500 6,000 4,500 3,860 Other - 100 100 900

1,500 6,100 4,600 4,760

Total Revenues 15,500 16,447 947 11,040


Services and supplies 84,165 10,913 73,252 18,573



FUND BALANCES, June 30 $ - $ 67,966 $ 67,966 $ 62,432


RECREATION FUND

GENERAL COUNTY

BUDGET

ELKO COUNTY

85




Grants $ 103,633 $ 103,633 $ - $ 71,211


Salaries and wages 53,633 53,458 175 50,930 Employee benefits 30,000 28,819 1,181 27,284 Services and supplies 18,749 21,375 (2,626) 11,572

Total Expenditures 102,382 103,652 (1,270) 89,786


General County General Fund - - - 17,000

Net Change in Fund Balances 1,251 (19) (1,270) (1,575)

FUND BALANCES (DEFICIT), July 1 (1,251) 174 1,425 1,749

FUND BALANCES, June 30 $ - $ 155 $ 155 $ 174

BUDGET

LIBRARY SPECIAL FEDERAL FUNDFOR THE YEAR ENDED JUNE 30, 2016


86

SCHEDULE OF REVENUES, EXPENDITURES, ANDGENERAL COUNTY


ELKO COUNTY





$ 369,575 366,181 $ (3,394) 345,053

Intergovernmental Resources:Federal grants 111,814 111,814 - 80,951

Total Revenues 481,389 477,995 (3,394) 426,004

EXPENDITURESCommunity Support:



FUND BALANCES (DEFICIT), July 1 1,682 (3,432) (5,114) 2,360

FUND BALANCES (DEFICIT), June 30 $ - $ 25,746 $ 25,746 $ (3,432)



ELKO COUNTY


87

SENIOR CITIZENS SERVICES FUND

BUDGET




Total Revenues $ 249,463 247,407 $ (2,056) 259,716

EXPENDITURES - - - -

Excess (Deficiency) of RevenuesOver (Under) Expenditures 249,463 247,407 (2,056) 259,716


General County General Fund (267,718) (241,843) 25,875 (281,181)





BUDGET


COUNTY JAIL SPECIAL REVENUE FUNDFOR THE YEAR ENDED JUNE 30, 2016


ELKO COUNTY

88


REVENUESCharges for Services:

Lander County $ 101,000 $ 107,126 $ 6,126 $ 102,834 Eureka County 117,000 94,197 (22,803) 108,312

Total Revenues 218,000 201,323 (16,677) 211,146


Lander County:Salaries and wages 50,000 44,994 5,006 47,931 Employee benefits 25,000 24,731 269 24,883 Services and supplies 50,000 5,723 44,277 12,633 Capital outlay 297,560 - 297,560 -

422,560 75,448 347,112 85,447

Eureka County:Salaries and wages 40,000 38,275 1,725 35,854 Employee benefits 30,000 9,951 20,049 9,017 Services and supplies 50,000 17,098 32,902 19,270 Capital outlay 297,560 - 297,560 -

417,560 65,324 352,236 64,141





89

BUDGET


ELKO COUNTY

LIBRARY SERVICE FUND


GENERAL COUNTY





$ 1,293,514 1,273,395 $ (20,119) 994,933

Miscellaneous:Investment earnings 25,000 2,128 (22,872) 483

Total Revenues 1,318,514 1,275,523 (42,991) 995,416

EXPENDITURESWelfare:

Services and supplies 1,408,328 1,403,416 4,912 1,130,547

Excess (Deficiency) of RevenuesOver (Under) Expenditures (89,814) (127,893) (38,079) (135,131)


General County General Fund 41,500 41,500 - 178,284

Net Change in Fund Balances (48,314) (86,393) (38,079) 43,153


FUND BALANCES (DEFICIT), June 30 $ - $ (17,146) $ (17,146) $ 69,247

SCHEDULE OF REVENUES, EXPENDITURES, ANDGENERAL COUNTY

BUDGET

90

FOR THE YEAR ENDED JUNE 30, 2016MEDICAL ASSISTANCE TO INDIGENT PERSONS FUND



ELKO COUNTY



Justice Court collections $ 12,000 $ 9,004 $ (2,996) $ 5,331

Miscellaneous - 3,648 3,648 5,065

Total Revenues 12,000 12,652 652 10,396

EXPENDITURESPublic Safety:

Sheriff:Services and supplies 12,758 11,989 769 11,289

Net Change in Fund Balances (758) 663 1,421 (893)

FUND BALANCES, July 1 758 1,115 357 2,008


FORENSIC SERVICES FUNDCHANGES IN FUND BALANCES - BUDGET AND ACTUAL

ELKO COUNTY

BUDGET



91


GENERAL COUNTY


REVENUESFines and Forfeits:

Property forfeits $ 20,000 $ 2,392 $ (17,608) $ 64,186






BUDGET



92

FOR THE YEAR ENDED JUNE 30, 2016SEIZURE FORFEITURE FUND






Judicial:Fees $ - $ 145 $ 145 $ 258


Services and supplies 10,184 - 10,184 -

Net Change in Fund Balances (10,184) 145 10,329 258

FUND BALANCES, July 1 10,184 10,342 158 10,084



BUDGET



ELKO COUNTY

ABUSED CHILDREN FUND

93



Grants $ 145,370 $ 145,370 $ - $ 108,192


Services and supplies 146,083 110,370 35,713 90,930 Capital outlay - 35,000 (35,000) 17,315

Total Expenditures 146,083 145,370 713 108,245

Net Change in Fund Balances (713) - 713 (53)

FUND BALANCES (DEFICIT), July 1 713 (3,340) (4,053) (3,287)

FUND BALANCES (DEFICIT), June 30 $ - $ (3,340) $ (3,340) $ (3,340)

94

ELKO COUNTY

BUDGET

SCHEDULE OF REVENUES, EXPENDITURES, ANDCHANGES IN FUND BALANCES - BUDGET AND ACTUALLOCAL EMERGENCY PLANNING COMMISSION FUND


GENERAL COUNTY




Grants $ - $ - $ - $ 23,299 Administration fees 130,000 124,102 (5,898) 142,648

Total Revenues 130,000 124,102 (5,898) 165,947


Services and supplies 757,933 85,990 671,943 48,711 Capital outlay 340,000 337,474 2,526 33,725

Total Expenditures 1,097,933 423,464 674,469 82,436


FUND BALANCES, July 1 967,933 1,043,145 75,212 959,634

FUND BALANCES, June 30 $ - $ 743,783 $ 743,783 $ 1,043,145


GENERAL COUNTY


ELKO COUNTY

95


FOR THE YEAR ENDED JUNE 30, 2016ADMINISTRATIVE ASSESSMENT BUILDING FUND

BUDGET


REVENUESIntergovernmental resources:

Sheriff fees $ 50,000 $ 30,438 $ (19,562) $ 45,000


Services and supplies 41,779 21,303 20,476 8,799 Capital outlay - - - 24,156


Net Change in Fund Balances 8,221 9,135 914 12,045

FUND BALANCES (DEFICIT), July 1 (8,221) 23,824 32,045 11,779


INMATE COMMISSARY FUNDFOR THE YEAR ENDED JUNE 30, 2016

96




BUDGET


Child support reimbursement grant and cost recovery fee $ 411,115 $ 422,931 $ 11,816 $ 425,761

Child support incentive grant - 34,096 34,096 34,510 County match funds - 55,812 55,812 116,920

Total Revenues 411,115 512,839 101,724 577,191


Salaries and wages 345,073 336,502 8,571 361,328 Employee benefits 187,489 181,614 5,875 172,293 Services and supplies 113,328 124,344 (11,016) 133,066

645,890 642,460 3,430 666,687

Excess (Deficiency) of Revenues Over (Under) Expenditures (234,775) (129,621) 105,154 (89,496)

OTHER FINANCING SOURCES (USES)Transfer In:





97

BUDGET


VARIANCE TOFINAL BUDGET 2015ACTUAL



CHANGES IN FUND BALANCES - BUDGET AND ACTUALCHILD SUPPORT INCENTIVE GRANT FUND




Recorder's fees $ 35,000 $ 38,202 $ 3,202 $ 34,590

Miscellaneous:Investment earnings - 403 403 729

Total Revenues 35,000 38,605 3,605 35,319


Services and supplies 114,050 113,106 944 64,085





98

BUDGET


CHANGES IN FUND BALANCES - BUDGET AND ACTUALSCHEDULE OF REVENUES, EXPENDITURES, AND

RECORDER'S TECHNOLOGY FUNDFOR THE YEAR ENDED JUNE 30, 2016



Grants $ 625,745 $ 625,745 $ - $ 556,595

Charges for Services:Judicial Fees 50,000 89,027 39,027 46,037

Miscellaneous:Investment earnings 2,500 449 (2,051) 1,258

Total Revenues 678,245 715,221 36,976 603,890


Salaries and wages 100,000 103,049 (3,049) 97,564 Employee benefits 40,000 43,337 (3,337) 40,581 Services and supplies 701,434 580,119 121,315 487,866







ELKO COUNTY


BUDGET

GENERAL COUNTY


99

DISTRICT COURT II RURAL DRUG COURT GRANT FUND

VARIANCE TOACTUAL FINAL BUDGET


Assessor's fees $ 200,000 $ 214,182 $ 14,182 $ 167,710

Miscellaneous:Interest 5,000 4,224 (776) 4,607

Total Revenues 205,000 218,406 13,406 172,317


Services and supplies 748,028 143,981 604,047 177,238 Capital outlay 85,000 84,830 170 22,904





100




ASSESSOR'S TECHNOLOGY FUND

2015BUDGET


REVENUES Other Taxes:

Room tax $ 300,000 $ 325,326 $ 25,326 $ 329,561

Charges for Services:Recreation Center fees 7,500 3,547 (3,953) 2,395

Intergovernmental Resources:Grants 2,500 3,216 716 2,962

Miscellaneous:Other 1,000 - (1,000) 94

Total Revenues 311,000 332,089 21,089 335,012


Library:Salaries and wages 35,819 39,483 (3,664) 34,243 Employee benefits 22,938 22,663 275 22,457 Services and supplies 17,444 17,067 377 16,345

76,201 79,213 (3,012) 73,045

Parks:Services and supplies 52,500 44,068 8,432 40,855 Capital outlay - - - 20,864

52,500 44,068 8,432 61,719

Golf Course:Services and supplies 39,000 10,799 28,201 7,556 Capital outlay - - - 59,349

39,000 10,799 28,201 66,905

Tourism Promotion:Services and supplies 1,000 527 473 -

Recreation Center:Salaries and wages 124,653 93,998 30,655 115,462 Employee benefits 57,732 39,923 17,809 41,657 Services and supplies 150,100 133,078 17,022 112,860 Capital outlay 108,100 107,832 268 7,000

440,585 374,831 65,754 276,979




TOWN OF JACKPOTELKO COUNTY

(Page 1 of 2)

BUDGET

101

RECREATION FUND




Excess (Deficiency) of RevenuesOver (Under) Expenditures (298,286) (177,349) 120,937 (143,636)


Town of Jackpot General Fund 175,000 175,000 - 200,000




TOWN OF JACKPOT



102



(Page 2 of 2)

BUDGET

RECREATION FUND

ELKO COUNTY



Secured roll $ 2,848 $ 2,516 Personal property roll 938 1,227 Unsecured, other 2,944 2,520

$ 6,911 6,730 $ (181) 6,263

Licenses and Permits:County gaming licenses 1,100 1,386 286 1,733

Intergovernmental Resources:Consolidated tax 7,000 8,795 1,795 8,470

Total Revenues 15,011 16,911 1,900 16,466


Executive Town Board:Services and supplies 10,000 4,100 5,900 7,362 Capital outlay 15,000 - 15,000 -

25,000 4,100 20,900 7,362 Public Safety:

Fire:Services and supplies 10,000 3,602 6,398 3,603 Capital outlay 15,000 - 15,000 -

25,000 3,602 21,398 3,603






ELKO COUNTY

103

BUDGET

TOWN OF MONTELLO

GENERAL FUND






Secured roll $ 3,182 $ 3,084 Personal property roll 95 102 Unsecured, other 4,750 4,637

$ 8,099 8,027 $ (72) 7,823

Licenses and Permits:Business licenses 500 1,055 555 485 Liquor licenses 600 185 (415) 500 County gaming licenses 500 630 130 1,445

1,600 1,870 270 2,430

Intergovernmental Resources:Consolidated tax 7,000 7,141 141 6,822

Total Revenues 16,699 17,038 339 17,075


Executive Town Board:Services and supplies 10,000 8,208 1,792 8,624 Capital outlay 8,000 - 8,000 -

Totals, General Government 18,000 8,208 9,792 8,624

Public Safety:Fire:

Services and supplies 7,500 1,674 5,826 1,225 Capital outlay 8,000 - 8,000 -

Totals, Public Safety 15,500 1,674 13,826 1,225

Public Works:Engineering and Public Works:

Services and supplies 10,000 1,008 8,992 1,556 Capital outlay 7,500 - 7,500 -

Totals, Public Works 17,500 1,008 16,492 1,556






BUDGET

TOWN OF MOUNTAIN CITYELKO COUNTY

104


FOR THE YEAR ENDED JUNE 30, 2016GENERAL FUND


NON-MAJOR DEBT SERVICE FUND

The Debt Service Fund accounts for the accumulation of resources for, and the payment of, general long-term debt principal, interest and related costs.


EXPENDITURESDebt Service:

Paying agent fees $ 19,875 $ 750 $ 19,125 $ 2,250

FUND BALANCES, July 1 19,875 19,625 (250) 21,875



BUDGET

105


2015



ELKO COUNTY

DEBT SERVICE FUND


NON-MAJOR CAPITAL PROJECTS FUNDS

Capital projects funds are used to account for the acquisition and construction of major capital facilities other than those financed by proprietary funds.

ASSETSCash and investments $ 304,793 $ 118,716 $ 59,993 $ 202,050 Due from other governments - - - - Taxes receivable, delinquent 6,036 - - -

Total Assets $ 310,829 $ 118,716 $ 59,993 $ 202,050

LIABILITIESAccounts payable $ - $ - $ - $ - Due to other governments 79,897 - - -

Total Liabilities 79,897 - - -

DEFERRED INFLOWS OF RESOURCESUnavailable revenue - delinquent property taxes 6,035 - - -

FUND BALANCESRestricted - capital projects 224,897 118,716 59,993 202,050


GENERAL COUNTY

CAPITALPROJECTS

CAPITALCAPITAL

ELKO COUNTYCOMBINING BALANCE SHEET

NONMAJOR CAPITAL PROJECTS FUNDSJUNE 30, 2016

PROJECTS

AD VALOREMCAPITAL

SAFETY

PROJECTSPROJECTS

106

(With Comparative Actual Amounts for June 30, 2015)

PUBLICCOUNTYAD VALOREM

TOWN OF JACKPOT

$ 14,367 $ 5,832 $ 705,751 $ 1,179,269 - - - 49,406 - - 6,036 14,750

$ 14,367 $ 5,832 $ 711,787 $ 1,243,425

$ - $ - $ - $ 147,377 - - 79,897 63,539

- - 79,897 210,916

- - 6,035 14,750

14,367 5,832 625,855 1,017,759

$ 14,367 $ 5,832 $ 711,787 $ 1,243,425

TOWN OFMOUNTAIN CITY

AD VALOREMCAPITAL

PROJECTS TOTAL 2015

AD VALOREMCAPITAL

PROJECTS

MONTELLOTOWN OF

REVENUESProperty taxes $ 915,453 $ - $ - $ - Intergovernmental resources - - - 22,938 Miscellaneous 52 - - -

Total Revenues 915,505 - - 22,938


General government 1,220,352 13,657 - 28,667 Public safety - - 143,800 -

Debt Service:Principal - - - - Interest - - - -

Total Expenditures 1,220,352 13,657 143,800 28,667

Excess (Deficiency) of Revenues Over Expenditures (304,847) (13,657) (143,800) (5,729)

OTHER FINANCING SOURCES (USES)Transfers in - 25,000 50,000 -

Net Change in Fund Balances (304,847) 11,343 (93,800) (5,729)



AD VALOREM SAFETY

ELKO COUNTY

PROJECTS

COUNTY

CAPITAL CAPITAL CAPITALCAPITAL

GENERAL COUNTY


PROJECTS PROJECTS

107

PROJECTS

AD VALOREM

TOWN OF JACKPOTPUBLIC


NONMAJOR CAPITAL PROJECTS FUNDSFOR THE YEAR ENDED JUNE 30, 2016

$ - $ - $ 915,453 $ 863,276 716 413 24,067 22,126 - - 52 -

716 413 939,572 885,402

- - 1,262,676 794,727 - - 143,800 59,700

- - - 25,000 - - - 750

- - 1,406,476 880,177

716 413 (466,904) 5,225

- - 75,000 135,000

716 413 (391,904) 140,225

13,651 5,419 1,017,759 877,534

$ 14,367 $ 5,832 $ 625,855 $ 1,017,759

PROJECTS TOTAL 2015PROJECTSCAPITAL

MONTELLO

AD VALOREMCAPITAL

TOWN OF TOWN OFMOUNTAIN CITY

AD VALOREM




$ 923,936 915,453 $ (8,483) 863,276

Miscellaneous - 52 52 -

Total Revenues 923,936 915,505 (8,431) 863,276


Services and supplies 813,157 401,041 412,116 388,458 Capital outlay 810,000 819,311 (9,311) 391,040

1,623,157 1,220,352 402,805 779,498

Debt Service:Principal - - - 25,000 Interest - - - 750

- - - 25,750

Total Expenditures 1,623,157 1,220,352 402,805 805,248






BUDGET


108

COUNTY AD VALOREM CAPITAL PROJECTS FUNDFOR THE YEAR ENDED JUNE 30, 2016

ELKO COUNTY



Services and supplies $ 147,602 $ 13,657 $ 133,945 $ - Capital outlay - - - 15,229







TOWN OF JACKPOTELKO COUNTY

CHANGES IN FUND BALANCES - BUDGET AND ACTUALCAPITAL PROJECTS FUND


109

BUDGET





Services and supplies $ 59,793 $ - $ 59,793 $ - Capital outlay 144,000 143,800 200 59,700


Excess (Deficiency) of RevenuesOver (Under) Expenditures (203,793) (143,800) 59,993 (59,700)

OTHER FINANCING SOURCES (USES)Transfers in:



FUND BALANCES, July 1 153,793 153,793 - 163,493



TOWN OF JACKPOTSCHEDULE OF REVENUES, EXPENDITURES, AND


ELKO COUNTY

110

PUBLIC SAFETY CAPITAL PROJECTS FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET



Other $ 20,000 $ 22,938 $ 2,938 $ 21,089


Services and supplies 206,690 9,682 197,008 - Capital outlay 20,000 18,985 1,015 -

Totals, General Government 226,690 28,667 198,023 -




TOWN OF JACKPOTSCHEDULE OF REVENUES, EXPENDITURES, AND


ELKO COUNTY

111

AD VALOREM CAPITAL PROJECTS FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET




Other $ 585 $ 716 $ 131 $ 658


Capital outlay 14,009 - 14,009 -




TOWN OF MONTELLOSCHEDULE OF REVENUES, EXPENDITURES, AND


ELKO COUNTY

112


BUDGET




Other $ 248 $ 413 $ 165 $ 379


Capital outlay 5,625 - 5,625 -




TOWN OF MOUNTAIN CITYSCHEDULE OF REVENUES, EXPENDITURES, AND


ELKO COUNTY

113


BUDGET


INTERNALLY REPORTED (BUDGETARY BASIS) FUNDS REPORTED AS PART OF THE GENERAL COUNTY GENERAL FUND AND TOWN

OF JACKPOT GENERAL FUND FOR EXTERNAL REPORTING PURPOSES




Federal payment in lieu of taxes $ 2,500,000 $ 3,754,574 $ 1,254,574 $ 3,155,072

Miscellaneous:Investment earnings - 26,455 26,455 77,501

Total Revenues 2,500,000 3,781,029 1,281,029 3,232,573


Services and supplies 4,272,075 - 4,272,075 -

Excess (Deficiency) of RevenuesOver (Under) Expenditures (1,772,075) 3,781,029 5,553,104 3,232,573


General County General Fund (3,500,000) (3,500,000) - (3,500,000) General County Capital Projects Fund (2,000,000) (2,000,000) - -

Total Other Financing Sources (Uses) (5,500,000) (5,500,000) - (3,500,000)

Net Change in Fund Balances (7,272,075) (1,718,971) 5,553,104 (267,427)

FUND BALANCES, July 1 7,272,075 7,429,648 157,573 7,697,075

FUND BALANCES, June 30 $ - $ 5,710,677 $ 5,710,677 $ 7,429,648



114

IN LIEU OF TAXES TRUST FUND

BUDGET


REVENUESMiscellaneous:

Investment earnings $ 5,000 $ - $ (5,000) $ -


Service and supplies 210,581 352 210,229 1,044 Capital outlay - - - 35,751

Total Expenditures 210,581 352 210,229 36,795

Net Change in Fund Balances (205,581) (352) 205,229 (36,795)





BUDGET

115

CHANGES IN FUND BALANCES - BUDGET AND ACTUALNORTHEASTERN NEVADA REGIONAL RAILPORT FUND




Services and supplies $ 24,041 $ - $ 24,041 $ -

Net Change in Fund Balances (24,041) - 24,041 -



116


INTERPRETIVE CENTER FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET





Unemployment premiums $ 30,000 $ 8,463 $ (21,537) $ 45,525


Unemployment claims 335,354 38,858 296,496 7,716




CHANGES IN FUND BALANCES - BUDGET AND ACTUALUNEMPLOYMENT INSURANCE LIABILITY RESERVE FUND


117


BUDGET

ELKO COUNTY



Investment earnings $ - $ 9,728 $ 9,728 $ 4,676


Employee benefits 1,537,544 311,433 1,226,111 294,940

Excess (Deficiency) of Revenues Over (Under) Expenditures (1,537,544) (301,705) 1,235,839 (290,264)



Net Change in Fund Balances (1,237,544) (1,705) 1,235,839 109,736

FUND BALANCES, July 1 1,237,544 1,247,280 9,736 1,137,544

FUND BALANCES, June 30 $ - $ 1,245,575 $ 1,245,575 $ 1,247,280

2015



118

BUDGET

CHANGES IN FUND BALANCES - BUDGET AND ACTUALPOST EMPLOYMENT BENEFIT FUND





Salaries and wages $ - $ 40,070 $ (40,070) $ - Employee benefits 175,000 - 175,000 -

Total Expenditures 175,000 40,070 134,930 -

Net Change in Fund Balances (175,000) (40,070) 134,930 -



ELKO COUNTY


BUDGET 2015

GENERAL COUNTY

CHANGES IN FUND BALANCES - BUDGET AND ACTUALVACATION BENEFITS FUND


119



Services and supplies $ 76,352 $ - $ 76,352 $ 1,263

Net Change in Fund Balances (76,352) - 76,352 -

FUND BALANCES, July 1 76,352 76,089 (263) 77,352


BOND INCOME FUND

ELKO COUNTY




BUDGET 2015

120



Unemployment premiums $ 4,000 $ 1,478 $ (2,522) $ 1,505


Unemployment claims 4,924 - 4,924 -

Net Change in Fund Balances (924) 1,478 2,402 1,505

FUND BALANCES (DEFICIT), July 1 924 429 (495) (1,076)

FUND BALANCES (DEFICIT), June 30 $ - $ 1,907 $ 1,907 $ 429

SCHEDULE OF REVENUES, EXPENDITURES, ANDTOWN OF JACKPOT



121

UNEMPLOYMENT INSURANCE LIABILITY RESERVE FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET

ELKO COUNTY

MAJOR ENTERPRISE FUNDS Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent of the County is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges.


OPERATING REVENUESCharges for services:

Sewer service charges $ 280,500 $ 234,027 $ (46,473) $ 241,013

OPERATING EXPENSESSalaries and wages 21,403 21,739 (336) 21,427 Employee benefits 10,683 9,615 1,068 9,307 Services and supplies 80,000 76,616 3,384 80,043 Depreciation 140,000 154,570 (14,570) 147,666

Total Operating Expenses 252,086 262,540 (10,454) 258,443

Operating Income (Loss) 28,414 (28,513) (56,927) (17,430)

NONOPERATING REVENUES (EXPENSES)Investment earnings 2,000 2,634 634 2,574 Interest expense - - - (1)

Total Nonoperating Revenues (Expenses) 2,000 2,634 634 2,573

Income (Loss) Before Transfers 30,414 (25,879) (56,293) (14,857)

TRANSFERS OUTTown of Jackpot General Fund (30,000) (30,000) - (25,000)

Change in Net Position $ 414 (55,879) $ (56,293) (39,857)

NET POSITION, July 1 3,942,779 3,982,636

NET POSITION, June 30 $ 3,886,900 $ 3,942,779

122

SEWER FUNDFOR THE YEAR ENDED JUNE 30, 2016


BUDGET

TOWN OF JACKPOTSCHEDULE OF REVENUES, EXPENSES, AND

CHANGES IN FUND NET POSITION - BUDGET AND ACTUAL

ELKO COUNTY


OPERATING REVENUESCharges for Services:

Water service charges $ 370,500 $ 310,256 $ (60,244) $ 317,905

OPERATING EXPENSESSalaries and wages 21,403 21,379 24 21,427 Employee benefits 10,683 9,615 1,068 9,307 Services and supplies 120,000 108,927 11,073 106,155 Depreciation 160,000 156,628 3,372 157,351

Total Operating Expenses 312,086 296,549 15,537 294,240

Operating Income (Loss) 58,414 13,707 (44,707) 23,665

NONOPERATING REVENUES (EXPENSES)Investment earnings 5,000 7,129 2,129 6,210 Interest expense (33,000) (39,584) (6,584) (32,438)

Total Nonoperating Revenues (Expenses) (28,000) (32,455) (4,455) (26,228)

Income (Loss) Before Transfers 30,414 (18,748) (49,162) (2,563)





123

BUDGET

WATER FUNDFOR THE YEAR ENDED JUNE 30, 2016




ELKO COUNTY



Fares $ 30,000 $ 36,703 $ 6,703 $ 27,875

Miscellaneous:Private donations and match 197,874 197,874 - 88,904

Total Revenues 227,874 234,577 6,703 116,779

OPERATING EXPENSESSalaries and wages 70,000 63,610 6,390 60,568 Employee benefits 30,000 28,636 1,364 27,239 Services and supplies 897,874 787,600 110,274 622,342 Depreciation - 8,828 (8,828) -


Operating Income (Loss) (770,000) (654,097) 115,903 (593,370)

NONOPERATING REVENUESOperating subsidies:

Federal government grants 670,000 625,419 (44,581) 516,515

Income (Loss) Before Capital Contributions and Transfers (100,000) (28,678) 71,322 (76,855)

CAPITAL CONTRIBUTIONS - - - 34,000

TRANSFERS INGeneral County General Fund 100,000 100,000 - 40,849

Total Capital Contributions and Transfers 100,000 100,000 - 74,849

Change in Net Position $ - 71,322 $ 71,322 (2,006)

NET POSITION, July 1 (119,077) (117,071)

NET POSITION , June 30 $ (47,755) $ (119,077)

124


SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION - BUDGET AND ACTUAL

ELKO AREA TRANSPORTATION SYSTEMFOR THE YEAR ENDED JUNE 30, 2016


BUDGET 2015


OPERATING REVENUESCharges for services $ 2,600,000 $ 2,766,197 $ 166,197 $ 2,054,304

OPERATING EXPENSESSalaries and wages 1,184,000 1,145,330 38,670 989,962 Employee benefits 350,000 320,802 29,198 324,364 Services and supplies 921,000 535,329 385,671 387,877 Depreciation 105,000 52,916 52,084 54,853

Total Operating Expenses 2,560,000 2,054,377 505,623 1,757,056

Operating Income (Loss) 40,000 711,820 671,820 297,248

NONOPERATING REVENUES (EXPENSES)Investment earnings 100 2,727 2,627 350 Grants - - - 4,825 Miscellaneous income - - - 21

Total Nonoperating Revenues (Expenses) 100 2,727 2,627 5,196

Income (Loss) Before Capital Contributions 40,100 714,547 674,447 302,444

CAPITAL CONTRIBUTIONS - 154,097 154,097 -

Change in Net Position $ 40,100 868,644 $ 828,544 302,444

NET POSITION, July 1 (174,876) (477,320)

NET POSITION, June 30 $ 693,768 $ (174,876)

125

BUDGET

ELKO AMBULANCE FUNDFOR THE YEAR ENDED JUNE 30, 2016


GENERAL COUNTYSCHEDULE OF REVENUES, EXPENSES, AND


ELKO COUNTY


NON-MAJOR ENTERPRISE FUNDS

Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent of the County is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges.

ASSETSCurrent Assets:

Cash and investments $ 21,286 $ 10,003 $ 43 $ 332,141 Accounts receivable 924 1,245 3,528 11,484 Due from other governments - - - -

Total Current Assets 22,210 11,248 3,571 343,625

Noncurrent Assets:Restricted Assets:

Cash restricted for customer deposits and connection fees 699 470 - 56 Cash restricted for future revenue bond retirement - - - -

Total Restricted Assets 699 470 - 56

Capital Assets 470,589 2,095,636 205,991 1,028,545 Less: Accumulated Depreciation (328,348) (1,252,668) (91,679) (525,215)

Total Capital Assets (Net of Accumulated Depreciation) 142,241 842,968 114,312 503,330

Total Noncurrent Assets 142,940 843,438 114,312 503,386

Total Assets 165,150 854,686 117,883 847,011

DEFERRED OUTFLOWS OF RESOURCESDeferred outflows related to pensions - - - 8,946

Total Assets and Deferred Outflows of Resources 165,150 854,686 117,883 855,957

LIABILITIESCurrent Liabilities:

Accounts payable 1,333 1,158 7,321 7,394 Accrued liabilities - - - 1,829 Due to other governments - - - - Customer deposits 699 470 - 56 Unearned revenue - - - - Due to other funds - - - - Bonds payable, current - - - -

Total Current Liabilities 2,032 1,628 7,321 9,279

Noncurrent Liabilities:Net pension liability - - - 39,494 Revenue bonds payable - - - -

Total Noncurrent Liabilities - - - 39,494

Total Liabilities 2,032 1,628 7,321 48,773

DEFERRED INFLOWS OF RESOURCESDeferred inflows related to pensions - - - 5,110

Total Liabilities and Deferred Inflows of Resources 2,032 1,628 7,321 53,883

NET POSITIONNet investment in capital assets 142,241 842,968 114,312 503,330 Restricted for debt service - - - - Unrestricted 20,877 10,090 (3,750) 298,744

Total Net Position $ 163,118 $ 853,058 $ 110,562 $ 802,074

GENERAL COUNTY

ELKO COUNTYCOMBINING STATEMENT OF FUND NET POSITION

NONMAJOR ENTERPRISE FUNDSJUNE 30, 2016


126

DISPOSALWASTESOLID

WATER WATERJARBIDGETUSCARORA WASTE

JACKPOTTOWN OF

$ 40,881 $ 328,977 $ 733,331 $ 823,946 3,220 2,019 22,420 20,750

19,325 - 19,325 750

63,426 330,996 775,076 845,446

2,974 49 4,248 4,248 - - - 2,364

2,974 49 4,248 6,612

2,222,593 496,483 6,519,837 6,360,542 (900,135) (405,600) (3,503,645) (3,225,939)

1,322,458 90,883 3,016,192 3,134,603

1,325,432 90,932 3,020,440 3,141,215

1,388,858 421,928 3,795,516 3,986,661

- - 8,946 5,702

1,388,858 421,928 3,804,462 3,992,363

3,232 249 20,687 10,142 272 272 2,373 2,192 - - - 807

2,974 49 4,248 4,248 538 - 538 538 - - - 5,000 - - - 2,019

7,016 570 27,846 24,946

- - 39,494 33,754 - - - 5,772

- - 39,494 39,526

7,016 570 67,340 64,472

- - 5,110 8,705

7,016 570 72,450 73,177

1,322,458 90,883 3,016,192 3,126,812 - - - 2,364

59,384 330,475 715,820 790,010

$ 1,381,842 $ 421,358 $ 3,732,012 $ 3,919,186

TOTAL 2015SEWERWATER

TOWN OF MONTELLO

OPERATING REVENUESCharges for services $ 14,658 $ 45,362 $ 34,745 $ 169,959

OPERATING EXPENSESSalaries and wages - 2,617 - 21,386 Employee benefits - 290 - 9,618 Services and supplies 10,302 53,526 89,950 75,506 Depreciation 16,869 85,142 10,421 69,987


Operating Income (Loss) (12,513) (96,213) (65,626) (6,538)

NONOPERATING REVENUES (EXPENSES)Investment earnings 176 163 - 2,858 Grants - - - - Interest expense (382) - - -

Total Nonoperating Revenues (Expenses) (206) 163 - 2,858

Income (Loss) Before Capital Contributions and Transfers (12,719) (96,050) (65,626) (3,680)

CAPITAL CONTRIBUTIONS - 87 - - TRANSFERS IN - - 50,000 - TRANSFERS OUT - - - (30,000)

Total Capital Contributions and Transfers - 87 50,000 (30,000)

Change in Net Position (12,719) (95,963) (15,626) (33,680)

NET POSITION, July 1 175,837 949,021 126,188 835,754

NET POSITION, June 30 $ 163,118 $ 853,058 $ 110,562 $ 802,074

SOLIDWASTE

WASTE

ELKO COUNTYCOMBINING STATEMENT OF REVENUES, EXPENSES, AND

CHANGES IN FUND NET POSITIONNONMAJOR ENTERPRISE FUNDS


WATER DISPOSALWATER

127

TUSCARORAJACKPOT

JARBIDGE


TOWN OFGENERAL COUNTY

$ 33,291 $ 21,570 $ 319,585 $ 312,482

4,088 4,088 32,179 36,072 453 453 10,814 10,947

20,086 10,198 259,568 247,020 89,471 5,815 277,705 276,630

114,098 20,554 580,266 570,669

(80,807) 1,016 (260,681) (258,187)

331 2,306 5,834 5,913 47,968 - 47,968 83,876

- - (382) (413)

48,299 2,306 53,420 89,376

(32,508) 3,322 (207,261) (168,811)

- - 87 304 - - 50,000 60,000 - - (30,000) (25,000)

- - 20,087 35,304

(32,508) 3,322 (187,174) (133,507)

1,414,350 418,036 3,919,186 4,052,693

$ 1,381,842 $ 421,358 $ 3,732,012 $ 3,919,186

2015TOTALWATER SEWER

MONTELLOTOWN OF

CASH FLOWS FROM OPERATING ACTIVITIES:Cash received from customers $ 14,490 $ 44,791 $ 33,236 $ 172,690 Cash payments to suppliers for goods and services (9,166) (54,189) (84,173) (72,864) Cash payments to employees for services - (2,907) - (31,950)

Net Cash Provided (Used) by Operating Activities 5,324 (12,305) (50,937) 67,876

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES:Advances to/from other funds - - (5,000) - Transfers in (out) - - 50,000 (30,000)

Net Cash Provided (Used) by Non-Capital Financing Activities - - 45,000 (30,000)

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Connection fees - - - - Principal payments on debt (7,791) - - - Interest payments on debt (382) - - - Proceeds from capital grants - - - - Capital contribution - 87 - - Acquisition of capital assets - - - (109,024)

Net Cash Provided (Used) by Capital andRelated Financing Activities (8,173) 87 - (109,024)

CASH FLOWS FROM INVESTING ACTIVITIES:Investment earnings 176 163 - 2,858

Net Increase (Decrease) in Cash and Cash Equivalents (2,673) (12,055) (5,937) (68,290)

CASH AND CASH EQUIVALENTS, July 1 24,658 22,528 5,980 400,487

CASH AND CASH EQUIVALENTS, June 30 $ 21,985 $ 10,473 $ 43 $ 332,197

CASH AND CASH EQUIVALENTS CONSISTS OF THE FOLLOWING:

Unrestricted $ 21,286 $ 10,003 $ 43 $ 332,141 Restricted:

Deposits and Fees 699 470 - 56 Reserve for Revenue Bonds - - - -

Total Cash and Cash Equivalents $ 21,985 $ 10,473 $ 43 $ 332,197

TOWN OF

SOLID WASTEWATER

JARBIDGE

128

WATER WASTE DISPOSAL

COMBINING STATEMENT OF CASH FLOWSNONMAJOR ENTERPRISE FUNDS


ELKO COUNTY


TUSCARORAGENERAL COUNTY JACKPOT

$ 31,976 $ 20,732 $ 317,915 $ 314,675 (19,280) (10,157) (249,829) (369,808)

(4,527) (4,527) (43,911) (47,073)

8,169 6,048 24,175 (102,206)

- - (5,000) (104,084) - - 20,000 35,000

- - 15,000 (69,084)

- - - 250 - - (7,791) (1,951) - - (382) (413)

29,393 - 29,393 239,435 - - 87 54

(50,271) - (159,295) (65,086)

(20,878) - (137,988) 172,289

331 2,306 5,834 5,913

(12,378) 8,354 (92,979) 6,912

56,233 320,672 830,558 823,646

$ 43,855 $ 329,026 $ 737,579 $ 830,558

$ 40,881 $ 328,977 $ 733,331 $ 823,946

2,974 49 4,248 4,248 - - - 2,364

$ 43,855 $ 329,026 $ 737,579 $ 830,558

TOWN OFMONTELLO

2015TOTALSEWERWATER

TUSCARORAWATER

RECONCILIATION OF OPERATING INCOME(LOSS) TO NET CASH PROVIDED (USED)BY OPERATING ACTIVITIES:

Operating income (loss) $ (12,513) $ (96,213) $ (65,626) $ (6,538) Adjustments to reconcile operating income (loss) to

net cash provided (used) by operating activities:Depreciation 16,869 85,142 10,422 69,987 Pension expense - - - 4,899 County pension contributions - - - (5,998) (Increase) decrease in:

Accounts receivable (168) (571) (1,509) 2,731 Increase (decrease) in:

Accounts payable 1,136 (663) 5,776 2,642 Accrued liabilities - - - 153 Due to other governments - - - - Customer deposits - - - -

Net Cash Provided (Used) byOperating Activities $ 5,324 $ (12,305) $ (50,937) $ 67,876

DISPOSAL


JARBIDGEWATER

COMBINING STATEMENT OF CASH FLOWSELKO COUNTY

129

(Page 2 of 2)

SOLID

NONMAJOR ENTERPRISE FUNDS

WASTE

TOWN OF

WASTEJACKPOT


WATER

$ (80,807) $ 1,016 $ (260,681) $ (258,187)

89,471 5,815 277,706 276,630 - - 4,899 4,474 - - (5,998) (5,398)

(1,315) (838) (1,670) 2,229 -

1,613 41 10,545 (122,256) 14 14 181 870

(807) - (807) (638) - - - 70

$ 8,169 $ 6,048 $ 24,175 $ (102,206)

TOWN OF

2015SEWER TOTAL

MONTELLO




OPERATING EXPENSESServices and supplies 10,000 10,302 (302) 11,142 Depreciation 15,000 16,869 (1,869) 16,868


Operating Income (loss) 1,000 (12,513) (13,513) (13,730)

NONOPERATING REVENUES (EXPENSES)Investment earnings 200 176 (24) 179 Interest expense (345) (382) (37) (413)

Total Nonoperating Revenues (Expenses) (145) (206) (61) (234)

Income (Loss) Before Transfers 855 (12,719) (13,574) (13,964)


NET POSITION, July 1 175,837 189,801

NET POSITION, June 30 $ 163,118 $ 175,837

130

BUDGET

TUSCARORA WATER ENTERPRISE FUNDFOR THE YEAR ENDED JUNE 30, 2016




ELKO COUNTY




OPERATING EXPENSESSalaries and wages - 2,617 (2,617) 6,484 Employee benefits - 290 (290) 725 Services and supplies 50,000 53,526 (3,526) 52,281 Depreciation 93,000 85,142 7,858 87,782


Operating Income (Loss) - (96,213) (96,213) (103,569)

NONOPERATING REVENUES (EXPENSES)Investment earnings 500 163 (337) 481

Income (Loss) Before Capital Contributions 500 (96,050) (96,550) (103,088)

CAPITAL CONTRIBUTIONSConnection fees - 87 87 -


NET POSITION, July 1 949,021 1,052,109


131

JARBIDGE WATER ENTERPRISE FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET




ELKO COUNTY



Landfill fees $ 76,000 $ 34,745 $ (41,255) $ 33,104

OPERATING EXPENSESServices and supplies 115,000 89,950 25,050 67,983 Depreciation 11,000 10,421 579 10,421


Operating Income (Loss) (50,000) (65,626) (15,626) (45,300)

TRANSFERS INGeneral County General Fund 50,000 50,000 - 60,000

Change in Net Position $ - (15,626) $ (15,626) 14,700



132

SOLID WASTE FUND

BUDGET




ELKO COUNTY



Landfill fees $ 185,000 $ 169,959 $ (15,041) $ 175,077

OPERATING EXPENSESSalaries and wages 21,403 21,386 17 21,434 Employee benefits 10,683 9,618 1,065 9,310 Services and supplies 80,000 75,506 4,494 66,350 Depreciation 44,000 69,987 (25,987) 67,995


Operating Income (Loss) 28,914 (6,538) (35,452) 9,988

NONOPERATING REVENUES (EXPENSES)Investment earnings 2,000 2,858 858 2,767

Income Before Transfers 30,914 (3,680) (34,594) 12,755





BUDGET

133

WASTE DISPOSAL FUNDFOR THE YEAR ENDED JUNE 30, 2016




ELKO COUNTY




OPERATING EXPENSESSalaries and wages 4,000 4,088 (88) 4,077 Employee benefits 900 453 447 456 Services and supplies 20,000 20,086 (86) 40,978 Depreciation 70,000 89,471 (19,471) 87,749


Operating Income (Loss) 100 (80,807) (80,907) (107,552)

NONOPERATING REVENUESInvestment earnings 1,000 331 (669) 243 Grants - 47,968 47,968 83,876

Total Nonoperating Revenues 1,000 48,299 47,299 84,119

Income (loss) before capital contributions 1,100 (32,508) (33,608) (23,433)

CAPITAL CONTRIBUTIONSConnection fees - - - 54

Change in Net Position $ 1,100 (32,508) $ (33,608) (23,379)



BUDGET

134

WATER FUNDFOR THE YEAR ENDED JUNE 30, 2016


TOWN OF MONTELLOSCHEDULE OF REVENUES, EXPENSES, AND


ELKO COUNTY



Sewer fees $ 25,000 $ 21,570 $ (3,430) $ 20,610

OPERATING EXPENSESSalaries and wages 4,000 4,088 (88) 4,077 Employee benefits 900 453 447 456 Services and supplies 16,000 10,198 5,802 8,286 Depreciation 6,000 5,815 185 5,815


Operating Income (Loss) (1,900) 1,016 2,916 1,976

NONOPERATING REVENUESInvestment earnings 2,000 2,306 306 2,243

Income (loss) before capital contributions 100 3,322 3,222 4,219

CAPITAL CONTRIBUTIONSConnection fees - - - 250

Change in Net Position $ 100 3,322 $ 3,222 4,469



135

SEWER FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET


TOWN OF MONTELLOSCHEDULE OF REVENUES, EXPENSES, AND


ELKO COUNTY

INTERNAL SERVICE FUND

Internal service funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the government.

CURRENT ASSETSCash for insurance rate stabilization $ 3,990,702 $ 3,376,252 Accounts receivable 159,932 204,623 Interest receivable 15,284 14,215

TOTAL ASSETS 4,165,918 3,595,090

CURRENT LIABILITIESAccounts payable 731,217 769,747

DEFERRED INFLOWS OF RESOURCESDeferred inflows related to insurance premiums 349,007 -

NET POSITION Restricted for group health insurance claims $ 3,085,694 $ 2,825,343

136

JUNE 30, 2016

2016 2015


SCHEDULE OF FUND NET POSITIONINTERNAL SERVICE FUND

GROUP HEALTH INSURANCE FUND

ELKO COUNTY


OPERATING REVENUESCharges for services:

Group insurance premiums and reimbursements $ 5,300,000 $ 5,404,615 $ 104,615 $ 4,721,042

OPERATING EXPENSESEmployee benefits 5,250,000 5,096,787 153,213 4,784,577 Services and supplies 50,000 81,369 (31,369) 14,218

Total Operating Expenses 5,300,000 5,178,156 121,844 4,798,795

Operating Income (Loss) - 226,459 226,459 (77,753)

NONOPERATING REVENUES (EXPENSES)Investment earnings - 33,892 33,892 12,499

Change in Net Position $ - 260,351 $ 260,351 (65,254)



137

GROUP HEALTH INSURANCE FUNDFOR THE YEAR ENDED JUNE 30, 2016

BUDGET


INTERNAL SERVICE FUNDSCHEDULE OF REVENUES, EXPENSES, AND


ELKO COUNTY

AGENCY FUNDS

Agency funds are custodial in nature and do not present results of operations or have a measurement focus.

Fair Board, Fair Improvement $ 150 $ 23,549 $ 42,796 $ (19,097) Fair Board 25,027 52,660 76,971 716 City of Elko Capital Projects 29,876 950,103 978,837 1,142 Elko County School District 5,494 14,499,267 14,327,032 177,729 City of Elko 141,447 2,976,394 3,096,099 21,742 City of Carlin 33,352 375,379 407,022 1,709 City of Wells 15,104 275,176 286,714 3,566 Elko City / County Civic Auditorium 68,245 534,645 592,891 9,999 City of Elko Debt Service 14,208 470,416 484,067 557 Fair Board Stake & Purse 105,435 96,701 100,000 102,136 Elko County Employee Flexible Spending 15,804 103,654 101,827 17,631 Collections Trust Fund 72,647 321,645 316,704 77,588 Prevailing Wage Rate Differential 15,555 - - 15,555 Sheriff's Garnishment Fund 25,280 498,924 504,275 19,929 State of Nevada 178,524 3,550,417 3,576,494 152,447 Elko County Development Authority 311,491 467,238 689,245 89,484 Sheep Inspection Taxes 20,500 15,427 18,040 17,887 Woolgrowers' Predatory Animal Control 3,388 21,276 21,276 3,388 South Canyon Road Reconstruction 5,040 - - 5,040 Humboldt Water District 361 116,294 112,392 4,263 Elko County Rodent Control 166 - - 166 Federal Range Improvement 123,155 68,950 52,040 140,065 Elko Television District 6,923 147,726 154,325 324 Metropolis Water District - 3,391 3,391 - Road Fund Employees Trust 117 - - 117 Central Nevada Water Authority 35,096 60,000 50,094 45,002 Women Against Domestic Violence 1,970 17,380 17,295 2,055 County Fish and Game Board 5,517 634 801 5,350 Senior Citizens Fund 1,651 286,340 280,904 7,087 Elko Seniors Building Fund 87 1 1 87 Elko County Library Gift 3,075 - - 3,075 Senior Center Rental Fund 2,360 - - 2,360 Elko Redevelopment District 1,605 249,851 251,261 195 Jackpot Tourism Promotion Fund 2,788 29,073 29,448 2,413 Genetic Marker Testing Fund 2,247 52,425 52,575 2,097

138

CASHBALANCE

JULY 1, 2015 ADDITIONS DEDUCTIONSBALANCE

JUNE 30, 2016

FOR THE YEAR ENDED JUNE 30, 2016(Page 1 of 2)

ASSETS

GENERAL COUNTYCOMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

ALL AGENCY FUNDS

ELKO COUNTY

Fair Board, Fair Improvement $ 150 $ 23,549 $ 42,796 $ (19,097) Fair Board 25,027 52,660 76,971 716 City of Elko Capital Projects 29,876 950,103 978,837 1,142 Elko County School District 5,494 14,499,267 14,327,032 177,729 City of Elko 141,447 2,976,394 3,096,099 21,742 City of Carlin 33,352 375,379 407,022 1,709 City of Wells 15,104 275,176 286,714 3,566 Elko City / County Civic Auditorium 68,245 534,645 592,891 9,999 City of Elko Debt Service 14,208 470,416 484,067 557 Fair Board Stake & Purse 105,435 96,701 100,000 102,136 Elko County Employee Flexible Spending 15,804 103,654 101,827 17,631 Collections Trust Fund 72,647 321,645 316,704 77,588 Prevailing Wage Rate Differential 15,555 - - 15,555 Sheriff's Garnishment Fund 25,280 498,924 504,275 19,929 State of Nevada 178,524 3,550,417 3,576,494 152,447 Elko County Development Authority 311,491 467,238 689,245 89,484 Sheep Inspection Taxes 20,500 15,427 18,040 17,887 Woolgrowers' Predatory Animal Control 3,388 21,276 21,276 3,388 South Canyon Road Reconstruction 5,040 - - 5,040 Humboldt Water District 361 116,294 112,392 4,263 Elko County Rodent Control 166 - - 166 Federal Range Improvement 123,155 68,950 52,040 140,065 Elko Television District 6,923 147,726 154,325 324 Metropolis Water District - 3,391 3,391 - Road Fund Employees Trust 117 - - 117 Central Nevada Water Authority 35,096 60,000 50,094 45,002 Women Against Domestic Violence 1,970 17,380 17,295 2,055 County Fish and Game Board 5,517 634 801 5,350 Senior Citizens Fund 1,651 286,340 280,904 7,087 Elko Seniors Building Fund 87 1 1 87 Elko County Library Gift 3,075 - - 3,075 Senior Center Rental Fund 2,360 - - 2,360 Elko Redevelopment District 1,605 249,851 251,261 195 Jackpot Tourism Promotion Fund 2,788 29,073 29,448 2,413 Genetic Marker Testing Fund 2,247 52,425 52,575 2,097

LIABILITIESDUE TO OTHER GOVERNMENTS AND ORGANIZATIONS

BALANCEJULY 1, 2015 ADDITIONS DEDUCTIONS

BALANCEJUNE 30, 2016

Economic Development Tax 1,735 18,480 18,704 1,511 Hospital Care to Indigents 17,270 289,457 272,531 34,196 Nevada Legal Aid 2,251 32,770 32,780 2,241 Elko County Recreation District 662,251 3,921 150,000 516,172 State Administration and Mineral Resources 35,922 952,211 906,606 81,527 Wildlife Property 7,208 - - 7,208 Steptoe Water District - 116 116 - Indigent Contribution Trust 60 - - 60 Youth Services Assessment 968 170,955 168,775 3,148 Northeastern Nevada Museum 914 356,919 352,945 4,888 West Wendover Recreation District 133 292,511 290,800 1,844 Elko Segment Water Basin 467 273 648 92 Mary's Creek Water Basin 176 4,005 3,963 218 Pine Valley Water Basin - 10 10 - City of West Wendover 12,221 1,833,129 1,840,839 4,511 Boulder Flat Water Basin - 365 365 - Little Humboldt River - 97 97 - Maggie Creek Water District - 516 529 (13) North Fork Water Basin 86 4,494 4,547 33 Stoffer Creek Improvement District 29,706 - - 29,706 Dixie Creek / Ten Mile Water Fund 173 89 225 37 Mary's River Water District - 5,170 5,153 17 Huntington Valley Water District - 1,794 1,794 - Lamoille Valley Water District - 3,866 3,644 222 Central Dispatch Administrative Authority - - 16,266 (16,266) Sheriff Auxiliary Fund 7,786 7,996 3,079 12,703

Total Assets $ 2,053,012 $ 30,244,080 $ 30,699,233 $ 1,597,859

139

CASH

(Page 2 of 2)

ASSETS


COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIESALL AGENCY FUNDS


BALANCEJUNE 30, 2016

BALANCEJULY 1, 2015 ADDITIONS DEDUCTIONS

Economic Development Tax 1,735 18,480 18,704 1,511 Hospital Care to Indigents 17,270 289,457 272,531 34,196 Nevada Legal Aid 2,251 32,770 32,780 2,241 Elko County Recreation District 662,251 3,921 150,000 516,172 State Administration and Mineral Resources 35,922 952,211 906,606 81,527 Wildlife Property 7,208 - - 7,208 Steptoe Water District - 116 116 - Indigent Contribution Trust 60 - - 60 Youth Services Assessment 968 170,955 168,775 3,148 Northeastern Nevada Museum 914 356,919 352,945 4,888 West Wendover Recreation District 133 292,511 290,800 1,844 Elko Segment Water Basin 467 273 648 92 Mary's Creek Water Basin 176 4,005 3,963 218 Pine Valley Water Basin - 10 10 - City of West Wendover 12,221 1,833,129 1,840,839 4,511 Boulder Flat Water Basin - 365 365 - Little Humboldt River - 97 97 - Maggie Creek Water District - 516 529 (13) North Fork Water Basin 86 4,494 4,547 33 Stoffer Creek Improvement District 29,706 - - 29,706 Dixie Creek / Ten Mile Water Fund 173 89 225 37 Mary's River Water District - 5,170 5,153 17 Huntington Valley Water District - 1,794 1,794 - Lamoille Valley Water District - 3,866 3,644 222 Central Dispatch Administrative Authority - - 16,266 (16,266) Sheriff Auxiliary Fund 7,786 7,996 3,079 12,703

Total Liabilities $ 2,053,012 $ 30,244,080 $ 30,699,233 $ 1,597,859

LIABILITIESDUE TO OTHER GOVERNMENTS AND ORGANIZATIONS

BALANCEJULY 1, 2015 ADDITIONS

BALANCEDEDUCTIONS JUNE 30, 2016

SUPPLEMENTARY DATA

Schedule No. 1Page 1 of 4

GOVERNMENTAL FUND TYPESGeneral Fund $ 7,908,784 $ 7,248,177 $ 4,014,497 $ 4,098,159 $ 3,749,718

Special Revenue Funds:General County:

Road Fund 331,076 535,730 201,082 284,037 519,210 Indigent Fund 327,581 303,516 121,843 211,320 36,918 Agricultural Extension Fund 121,006 135,398 155,427 146,620 158,625 Library Fund 401,093 367,261 267,525 227,774 155,826 Juvenile Probation 851,342 614,146 442,320 293,537 313,993 Recreation Fund 112,262 86,135 69,298 61,825 67,457 Library Special Federal Fund 16,483 31,288 32,291 49,804 41,547 In Lieu of Taxes Trust Fund 6,551,400 6,164,934 7,271,551 6,738,540 5,439,702 Senior Citizens Service Fund 37,626 96,124 86,928 74,749 25,746 Road Construction Fund 500,822 40,710 175,273 28,845 6,646 County Jail Special Revenue Fund 64,249 26,033 33,582 4,169 17,793 Regional Street and Highway Fund 3,335,540 3,853,536 4,838,111 4,475,591 4,975,663 Library Service Fund 482,404 543,283 615,311 682,262 739,483 Medical Assistance to Indigent Persons Fund 937,579 324,231 310,785 66,811 143,073 Forensic Services Fund 532 19,360 662 1,597 1,858 Seizure Forfeiture Fund 72,119 141,622 75,360 60,972 55,031 Abused Children Fund 8,413 9,727 10,084 10,342 10,487 Local Emergency Planning Commission Fund - - - 3,391 18,863 Child Support Incentive Grant Fund 80,137 37,097 24,489 45,525 66,339 Administrative Assessment Building Fund 781,688 850,383 953,684 1,036,536 732,629 Hospital Proceeds Fund 71,674 - - - - Interpretive Center Fund 34,041 34,041 34,041 34,041 34,041 Inmate Commissary Fund - 17,842 11,851 25,074 2,891 Budgetary Incentive Fund 859 - - - - Recorder's Technology Fund 168,944 173,616 125,548 94,184 23,102 Inmate Communication Fund 14,886 - - - - Unemployment Insurance Liability Reserve 244,548 269,235 300,354 338,163 316,812 District Court II Drug Court Grant Fund 325,637 200,894 184,496 - 74,103 Assessor's Technology Fund 807,816 798,004 731,949 688,978 633,262 Post Employment Benefit Fund 966,356 1,023,418 1,133,589 1,242,051 1,240,823 Vacations Benefit Fund 50,000 50,000 200,000 200,000 159,930 Bond Income Fund 77,352 77,352 77,352 76,089 76,089 Secure Rural Schools Title III Fund 218,939 217,199 217,199 217,199 -

Town of Jackpot:General Fund 686,078 810,904 528,026 598,532 515,297 Recreation Fund - 85,622 194,334 267,971 248,560 Unemployment Insurance Liability Reserve 6,630 2,397 - 429 1,907

Town of Montello:General Fund 29,840 35,160 43,753 45,947 55,237

ELKO COUNTYSUMMARY SCHEDULE OF ENDING CASH AND INVESTMENTS

FOR THE YEARS ENDED JUNE 30, 2012 THROUGH JUNE 30, 2016

140

20152012 2013 2014 2016

Town of Mountain City:General Fund 81,052 105,527 94,595 99,287 107,562

18,798,004 18,081,725 19,562,693 18,432,192 17,016,505

Debt Service Funds:General County

Debt Service Fund 208,789 24,475 22,625 19,625 18,875

Capital Projects Funds:General County:County Capital Projects Fund 2,388,065 3,656,831 5,041,289 842,895 1,401,097 County Ad Valorem Capital

Projects Fund 484,891 100,083 569,037 691,254 304,793 Northeastern Nevada Regional

Railport Fund 201,707 343,211 315,613 278,818 278,466 Town of Jackpot:Capital Projects Fund 37,602 37,602 37,602 107,373 118,716 Public Safety Capital Projects Fund 63,493 113,493 163,493 153,793 59,993 Ad Valorem Capital Projects Fund 33,960 183,671 186,690 207,779 202,050

Town of Montello:Ad Valorem Capital Projects Fund 11,819 12,354 12,993 13,651 14,367

Town of Mountain City:Ad Valorem Capital Projects Fund 4,365 4,674 5,040 5,419 5,832

3,225,902 4,451,919 6,331,757 2,300,982 2,385,314

Totals, Governmental Fund Types 30,141,479 29,806,296 29,931,572 24,850,958 23,170,412

2012 20142013

141

2016

SUMMARY SCHEDULE OF ENDING CASH AND INVESTMENTSFOR THE YEARS ENDED JUNE 30, 2012 THROUGH JUNE 30, 2016

Schedule No. 1

2015

ELKO COUNTY

Page 2 of 4

PROPRIETARY FUND TYPESEnterprise Funds:General County:

Jarbidge Water 2,720 79,342 38,695 22,528 10,473 Tuscarora Water Enterprise Fund 25,467 19,490 23,706 24,658 21,985 Elko Ambulance Service 158,174 71,353 89,239 - 388,710 Elko County Solid Waste - 4,316 - 5,980 43 Elko Area Transportation System Fund - - - 34,900 -

Town of Jackpot:Water Fund 644,912 769,245 856,222 946,498 1,021,729 Sewer Fund 418,793 450,265 424,338 350,573 344,408 Waste Disposal Fund 417,440 469,920 448,516 400,487 332,197

Town of Montello:Water Fund 76,952 72,090 2,904 56,233 43,855 Sewer Fund 294,721 304,793 309,825 320,672 329,026

Totals, Enterprise Fund Types 2,039,179 2,240,814 2,193,445 2,162,529 2,492,426

Internal Service Fund:General County:

Group Insurance Fund 3,217,272 3,247,535 3,636,516 3,376,252 3,990,702

Totals, Proprietary Fund Types 5,256,451 5,488,349 5,829,961 5,538,781 6,483,128

FIDUCIARY FUND TYPESAgency Funds and Investment Trust Fund 28,432,850 29,224,420 36,967,172 43,608,140 33,312,572

Totals, Fiduciary Fund Types 28,432,850 29,224,420 36,967,172 43,608,140 33,312,572

Total Primary Government 63,830,780 64,519,065 72,728,705 73,997,879 62,966,112

COMPONENT UNITAgricultural Association District No. 4 152,927 144,248 57,874 70,119 59,970

Total Reporting Entity $ 63,983,707 $ 64,663,313 $ 72,786,579 $ 74,067,998 $ 63,026,082

SUMMARY SCHEDULE OF ENDING CASH AND INVESTMENTSELKO COUNTY

Page 3 of 4Schedule No. 1


2012 2015 2016

142

2013 2014

CASH BALANCES REPRESENTED BY

Deposits - Elko County $ 15,303,685 $ 10,716,624 $ 8,546,447 $ 10,025,937 $ 33,531,858

Deposits - Component Unit:Agricultural Association District No. 4 152,927 144,248 57,874 70,119 59,970

Investments 48,527,095 53,802,441 64,182,258 63,971,942 29,434,254

$ 63,983,707 $ 64,663,313 $ 72,786,579 $ 74,067,998 $ 63,026,082

PERCENTAGE INVESTMENTS 75.84% 83.20% 88.18% 86.37% 46.70%

20162014 2015

SUMMARY SCHEDULE OF ENDING CASH AND INVESTMENTS

Page 4 of 4

143

2012 2013


ELKO COUNTY

Schedule No. 1

ELKO COUNTY

SCHEDULE OF TUSCARORA WATER REVENUE BOND REQUIREMENTS

JUNE 30, 2016 Schedule No. 2

144

Elko County Resolution No. 80-1 authorized the issuance of the Tuscarora Water Revenue Bonds of 1979 in the

amount of $40,500. This resolution also required that the annual audit report include specific information relating to the funds created to account for the payment of the bonds. In response to the Audit and Report Provision, No. 19-13(A) through (H) of the bond resolution, the following is submitted:

(A) Combining Statement of Net Position: Tuscarora Water Enterprise Fund – Page No. 126.

(B) Statement of Revenues, Expenses and Changes in Fund Net Position – Budget and Actual:

Tuscarora Water Enterprise Fund – Page No. 130.

(C) Insurance: Insurance policies and the related coverage can be obtained in the Elko County Manager’s office.

(D) Rate Schedules:

The rates currently in effect for the Tuscarora Water District are contained in Elko County Resolution No. 79-4, also available in the Elko County Manager’s office.

(E) Customers:

At June 30, 2016, the Tuscarora Water District has approximately 30 active customers classified in accordance with Resolution No. 79-4.

(F) Billings:

Total amount billed $14,658 Total amount collected $14,490

(G) Recapitulation of the Funds and Accounts Created by the Resolution:

Tuscarora Water Enterprise Fund – Page Nos. 126 and 130.

(H) Net Revenue Certificate: The information required by this provision can be obtained through analysis of the Balance Sheet, Statement of Revenues, Expenses and Changes in Fund Net Position and the Statement of Cash Flows of the Tuscarora Water Enterprise Fund.


COMPLIANCE SECTION

145

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED

IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Honorable Board of Commissioners of Elko County, State of Nevada We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the remaining aggregate fund information of Elko County, State of Nevada as of and for the year ended June 30, 2016, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements and have issued our report thereon dated January 13, 2017. We did not express an opinion on the Agricultural Association District No. 4, a discretely presented component unit of Elko County. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered Elko County’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Elko County’s internal control. Accordingly, we do not express an opinion on the effectiveness of Elko County’s internal control.

Our consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as described in the accompanying Schedule of Findings and Questioned Costs, we identified certain deficiencies in internal control that we consider to be material weaknesses and significant deficiencies. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. We consider the deficiency described in the accompanying Schedule of Findings and Questioned Costs to be a material weakness (item 2016-A).

A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. We consider the deficiencies described in the accompanying Schedule of Findings and Questioned Costs to be significant deficiencies (items 2016-B, 2016-C, and 2016-D).

Compliance and Other Matters As part of obtaining reasonable assurance about whether Elko County’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

146

Elko County’s Response to Findings The County’s response to the findings identified in our audit are described in the accompanying Schedule of Findings and Questioned Costs and Corrective Action Plan. The County’s response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


147

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY UNIFORM GUIDANCE

To the Honorable Board of Commissioners of Elko County, Nevada Report on Compliance for Each Major Federal Program We have audited Elko County, Nevada’s (the County) compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of the County’s major federal programs for the year ended June 30, 2016. The County’s major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the federal statutes, regulations, and the terms and conditions of its federal awards applicable to its federal programs. Auditor’s Responsibility Our responsibility is to express an opinion on the compliance for each of the County’s major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of the County’s compliance. Opinion of Each Major Federal Program In our opinion, Elko County complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2016. Report on Internal Control Over Compliance Management of the County is responsible for establishing and maintaining effective internal control over compliance with the compliance requirements referred to above. In planning and performing our audit of compliance, we considered the County’s internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County’s internal control over compliance.

148

A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a compliance requirement will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, we identified a certain deficiency in internal control over compliance, as described in the accompanying schedule of findings and questioned costs as item 2016-001 that we consider to be a significant deficiency. Elko County’s response to the internal control over compliance findings identified in our audit are described in the accompanying schedule of findings and questioned costs and corrective action plan. Elko County’s response was not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on the response. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.


PASS-THROUGHFEDERAL ENTITY

FEDERAL GRANTOR / PASS THROUGH CFDA IDENTIFYINGGRANTOR / PROGRAM TITLE NUMBER NUMBER

U.S. Department of Agriculture:Passed through the State of Nevada Department of Administration:

Child Nutrition Cluster:National School Lunch Program 10.555 S0252 $ 2,103 National School Lunch Program 10.555 R-1470-10 11,903

14,006

Passed through the State of Nevada Controller:Forest Service Schools and Roads Cluster:

School and Roads - Grants to States 10.665 unknown 27,352

Total U.S. Department of Agriculture 41,358

U.S. Department of Housing and Urban Development:Passed through the State of Nevada Commission on Economic Development:

Community Development Block Grants - State Administered CDBG Cluster:Jackpot Stormwater Improvement 14.228 14/PCB/05 80,000 Montello Stormwater Improvement 14.228 15/PCB/02 47,968

Passed through State of Nevada Department of Health and Human Services:Emergency Shelter Grant 14.239 unknown 11,147

Total U.S. Department of Housing and Urban Development 139,115

U.S. Department of the Interior:Direct Program:

National Wildlife Refuge Fund 15.659 - 11,744

U.S. Department of Justice:Direct Program:

State Criminal Alien Assistance Program 16.606 - 3,096

Bulletproof Vest Partnership Program 16.607 - 5,004

Passed through State of Nevada Bureau of Justice:Drug Court Discretionary Grant Program 16.585 unknown 110,161 Edward Byrne Memorial Justice Assistance Grant Program 16.738 unknown 10,000 Support for Adam Walsh Act Implementation Grant Program 16.750 unknown 11,319

131,480

Direct Program:Public Safety Partnership and Community Policing Grant 16.710 - 161,094

Total U.S. Department of Justice 300,674

U.S. Department of Transportation:Direct Programs:

Airport Improvement Program:Jackpot Airport 20.106 3-32-0024-012-2015 737,760

Passed through State of Nevada Department of Transportation:Formula Grants for Rural Areas 20.509 unknown 1,491

Transit Services Programs Cluster:Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 PR438-13-802 410,082 Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 PR365-14-802 115,687

527,260 Federal Transit Cluster:

Bus and Bus Facilities Formula Program 20.526 unknown 4,533

ELKO COUNTYSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS


FEDERALEXPENDITURES

149



Passed through State of Nevada Department of Public Safety:Highway Safety Cluster:

State and Community Highway Safety 20.600 unknown $ 22,127 National Priority Safety Program - Distracted Driving Grant 20.616(d) unknown 12,803 National Priority Safety Program 20.616 LFD-2016ECFP-0023 3,533

38,463 Passed through State of Nevada Emergency Response Commission:

Interagency Hazardous Material Public Sector Training and Planning Grants 20.703 unknown 14,003

Total U.S. Department of Transportation 1,322,019

Institute of Museum and Library ServicesPassed through the Nevada State Library:

Grants to States - State Library Program 45.310 45.310-13 14,575 Grants to States - State Library Program 45.310 45.310-14 19,334 Grants to States - State Library Program 45.310 45.310-15 9,218

Total Institute of Museum and Library Services 43,127

Department of Veterans AffairsPassed through State of Nevada, Department of Veterans Services:

Veterans Transportation Program 64.035 unknown 45,632

U.S. Department of Energy:Passed through State of Nevada Department of Public Safety:

Office of Science and Technology for Environmental Management - DOE Emergency Response 81.502 unknown 44,717

Total U.S. Department of Energy 44,717

U.S. Department of Health and Human Services:Direct Program:

Substance Abuse and Mental Health Services-Projects of Regional and National Significance 93.243 SH79TI02067-02 254,876

Passed through State of Nevada Department of Health and Human Services:Special Programs for the Aging - Nutrition Services:

Aging Cluster:Senior Citizens Nutrition Grant 93.045 05-001-04-24-14 6,206 Senior Citizens Nutrition Grant 93.045 05-001-04-24-15 23,301 Senior Citizens Nutrition Grant 93.045 05-001-07-13-15 12,734 Senior Citizens Nutrition Grant 93.045 05-001-07-13-14 33,849

76,090

Nutrition Services Incentive Program 93.053 05-001-57-NX-15 35,555 Nutrition Services Incentive Program 93.053 05-001-57-NX-12 169

35,724

Total Aging Cluster 111,814

Child Support Enforcement:Child Support Enforcement - Juvenile Court 93.563 unknown 33,276 Child Support Enforcement Program 93.563 unknown 422,931 Incentive Grant - Program Income 93.563 unknown 34,096

490,303 Direct:

Developmental Disabilities Basic Support and Advocacy Grant 93.630 - 23

Total U.S. Department of Health and Human Services 857,016

ELKO COUNTYSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS


EXPENDITURES

150

FEDERAL




U.S. Department of Homeland Security:Passed through State of Nevada Department of Public Safety:

Emergency Management Performance Grant 97.042 9704215 $ 31,943 Homeland Security Grant Program 97.067 97067-HL4 43,970 Homeland Security Grant Program 97.067 97067-HL5 17,598

Total U.S. Department of Homeland Security 93,511

Total Federal Expenditures $ 2,898,913

Note 1 - BASIS OF PRESENTATION:

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDSFOR THE YEAR ENDED JUNE 30, 2016

(Page 3 of 3)

FEDERALEXPENDITURES

The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Elko County and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.

The County has not elected to use the 10% de minimis cost rate.

151

ELKO COUNTY

ELKO COUNTY

SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2016

(Page 1 of 5)

152

SECTION I – SUMMARY OF AUDITOR’S RESULTS FINANCIAL STATEMENTS Type of auditor’s report issued: Unmodified opinion on the governmental activities, the business type activities, each major fund, and the aggregate remaining fund information. A disclaimer of opinion on the aggregate discretely presented component unit.

Internal control over financial reporting

Material weaknesses identified

Yes

Significant deficiency identified not considered to be material weaknesses

Yes

Noncompliance material to financial statements noted

No

FEDERAL AWARDS

Internal control over major programs

Material weaknesses identified

No

Significant deficiency identified not considered to be material weaknesses

Yes

Type of auditor's report issued on compliance for major programs

Unmodified

Any audit findings disclosed that are required to be reported in accordance

with Uniform Guidance 2 CFR 200.516

Yes

Identification of major programs:

Name of Federal Program or Cluster

CFDA Number

Airport Improvement Program

20.106

Child Support Enforcement 93.563

Dollar threshold used to distinguish between Type A and Type B programs

$750,000

Auditee qualified as low-risk auditee?

No

ELKO COUNTY


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SECTION II – FINANCIAL STATEMENT FINDINGS

Deficiency Considered to be a Material Weakness: Finding 2016-A Report Preparation: Criteria: Management of Elko County is responsible for establishing and maintaining an effective

system of internal control over financial reporting. One of the key components of an effective system of internal control is a finance staff with adequate resources available to prepare the financial statements in accordance with generally accepted accounting principles. Additionally, a good system of internal control contemplates an adequate system for recording and processing entries material to the financial statements.

Condition: The County does not have an internal control system designed to provide for the preparation of

the financial statements and related financial statement disclosures being prepared in all material respects. In conjunction with the completion of our audit, we were requested to draft the financial statements, assist with the conversion of the fund financial statements to government-wide financial statements, and prepare the accompanying notes to the financial statements. In addition, we posted audit adjustments as detailed below:

• Secure Rural Schools Title III grant funds that were not expended were refunded to the federal oversight agency during fiscal year 2016. The refund was incorrectly posted to an expenditure account for $217,199.

• An adjustment for capital asset contributions totaling $154,097 between the Town of Jackpot General Fund and the General County – Elko Ambulance Fund.

• An adjustment to depreciation expense totaling $79,900 caused by incorrectly recording the disposal of a donated assets in the General County – Elko Ambulance Fund.

• An adjustment for unearned revenue for grant receipts received after year-end totaling $171,910 in the Town of Jackpot General Fund.

• An adjustment to record Sheriff Inmate Commissary revenues and due from other governments totaling $30,438.

Although the preparation of the financial statements as part of the audit engagement is not unusual, it may result in financial statements and related information including financial statement disclosures not being available for management purposes as timely as it would be if prepared by County personnel. In addition, the absence of controls over the preparation of the financial statement and related financial statement disclosures increases the possibility that a misstatement of the financial statements could occur and not be prevented, or detected and corrected, by the County’s internal control as evidenced with the material audit adjustments as noted above. It is the responsibility of those charged with governance to determine whether to accept the risk associated with this condition because of the cost or other considerations.

Cause: Given the daily responsibilities of management, the resources of time, and training necessary to prepare the County’s financial statements in accordance with generally accepted accounting principles are not available. As a result the County has chosen to contract with Eide Bailly LLP to prepare the financial statements. This circumstance is not unusual in an organization of this size, due to time constraints of management and costs associated with compliance of the standards. However, management has not implemented sufficient procedures to capture the necessary information needed for the financial statements and related disclosures to be prepared in all material respects.

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(Page 3 of 5)

154

Effect: The County’s financial records required audit adjustments in order for the financial statements to be in accordance with GAAP. Internally prepared financial information may not be accurate and full disclosure financial statements may not be available as timely as they would be if prepared by County personnel.

Recommendation: We recommend County staff continue to obtain training in the preparation of the financial

statements and related financial statement disclosures in order to gain the knowledge needed to prepare the financial statements and related financial statement disclosures in all material respects.

Views of

Responsible Officials:

Management agrees with the finding.

Deficiency Considered to be a Significant Deficiency: Finding 2016-B Ambulance Revenues: Criteria: Controls should be in place to ensure that revenues are properly recorded. This will reduce the

risk of misstatements in the financial statements. Condition: During the performance of our procedures, it was noted that, out of twenty five ambulance

billing claims tested, five were incorrectly calculated. Of these five claims, either incorrect services were billed, services that should have been billed were not, or incorrect billing rates were used.

Effect: Misstatements of the financial statements. Cause: The County hired a third party administrator to process claims. Recommendation: We recommend that the County examine its control processes with the third party administrator

over ambulance billings to ensure completeness and accuracy of ambulance revenues. View of



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155

Deficiency Considered to be a Significant Deficiency: Finding 2016-C Interest Revenues: Criteria: Controls should be in place to ensure that interest revenues are properly recorded. This will

reduce the risk of misstatements in the financial statements. Condition: During the performance of our procedures, it was noted that the Post Employment Benefits

Fund and the Group Health Insurance Fund were not allocated interest revenues earned on invested cash balances. This resulted in an audit adjustment of $43,028.

Effect: Misstatements of the financial statements. Cause: The monthly interest revenue allocations were not properly reviewed for proper allocation

among funds within the pooled cash environment. Recommendation: We recommend that the County examine its control processes over interest revenues and the

allocation of these revenues to the individual funds. View of



Deficiency Considered to be a Significant Deficiency: Finding 2016-D Controls over Water and Sewer Billings: Criteria: Controls should be in place to ensure that all utility revenues and receivables are properly

recorded on an accrual basis of accounting. This will reduces the risk of misstatements in the financial statements.

Condition: During the performance of our procedures, we noted that utility receivables recorded were based

on collections in July 2016 and receivables were not recorded based on the accrual basis of accounting (i.e. no receivables for delinquent accounts collected after July 2016) for the following Enterprise Funds: Town of Jackpot – Water Fund, Town of Jackpot – Sewer Fund, Town of Montello Water Fund, Town of Montello Sewer Fund, Tuscarora Water Enterprise Fund, and Jarbidge Water Enterprise Fund.

Effect: Misstatements of the financial statements. Cause: Controls in place were not sufficient to ensure revenues and receivables were properly reported. Recommendation: We recommend the County examine its control processes over the water and sewer billings to

ensure that receivables are recorded based on the accrual basis of accounting. Views of



ELKO COUNTY


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SECTION III – FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS: Deficiency Considered to be a Significant Deficiency: Finding 2016-001 U.S. Department of Transportation: Airport Improvement Program – CFDA 20.106

Criteria: Per the Uniform Guidance, all grant award recipients of the Airport Improvement Program funds are required to file financial reports for reimbursements and at the closure of the grant with the federal oversight agency by the due dates stipulated in the grant award letter.

Condition: During our audit, we noted the final SF-425 financial report for the Airport

Improvement Program 3-32-0024-011-2014 grant for closure of the grant was not submitted by the required due dates per the grant award letter.

Cause: Elko County personnel did not file the final SF-425 financial report for the Airport

Improvement Program 3-32-0024-011-2014 grant by the due date required by the grant award letter. Elko County personnel did file the final SF-425 financial report with the federal oversight agency at a later date.

Effect: Noncompliance with the financial reporting requirements. Questioned Costs: None. Context/Sampling: Tested 100% of the population, which is one report. Repeat Finding from

Prior Year(s): No.

Recommendation: We recommend Elko County personnel in charge of filing the financial reports with

federal oversight agencies implement procedures to ensure that reporting compliance requirements are performed as required.

Views of



157

Elko County 540 Court Street

Elko, Nevada 89801 Telephone: (775) 753-7073

Fax: (775) 753-8535

CORRECTIVE ACTION PLAN FOR AUDIT FINDINGS

Finding Number: 2016-A Contact(s) Responsible for Correction Action: Cash Minor Corrective Action Planned: Management believes the cost of internally preparing the financial statements would exceed the benefits from doing so. Based on current staffing levels the time required to prepare the statements would be unmanageable. We will continue staff training and have additional oversite of Capital Assets and Grant Management. The Sheriff Inmate Commissary revenue will be deposited on a regular basis rather than intermittently. Anticipated Date of Corrective Action Plan: 6/30/2017 Finding Number: 2016-B Contact(s) Responsible for Correction Action: Debbie Armuth Corrective Action Planned: The current billing company has recently conducted a SOC 1 audit and will be preparing these annually. We expect that this should clear anything up in the future however we have implemented a review process by the County ambulance billing staff to regularly conduct random reviews of calls on a monthly basis and that staff will also be included in the annual rate increases for review with the contractor. Anticipated Date of Corrective Action Plan: 6/30/2017 Finding Number: 2016-C Contact(s) Responsible for Correction Action: Rebecca Erickson Corrective Action Planned: The County Treasurer will review the allocation on a monthly basis to ensure accuracy and will review appropriate fund allocation with the Fiscal Affairs department on an annual basis. Anticipated Date of Corrective Action Plan: 6/30/2017 Finding Number: 2016-D Contact(s) Responsible for Correction Action: Debbie Armuth Corrective Action Planned: The Fiscal Affairs department will implement and follow procedures to ensure that these amounts are identified and recorded as necessary. The water and sewer billing clerks for the respective Service area will provide the year end amounts to Fiscal Affairs for proper recording into the general ledger. Anticipated Date of Corrective Action Plan: 6/30/2017 Finding Number: 2016-001 Contact(s) Responsible for Correction Action: Debbie Armuth Corrective Action Planned: The grant closure information had not been clearly identified in the past and now the Fiscal Affairs department has assumed the sharing of many of the filings for the FAA grants and expect to receive notification from the Community Development department upon grant completion. Also, communication between newly identified staff should alleviate any future delays. In the past it had been difficult to utilize additional staff and many duties were assumed by only one individual who was dealing with difficult time constraints. Anticipated Date of Corrective Action Plan: 6/30/2017

ELKO COUNTY

SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FOR THE YEAR ENDED JUNE 30, 2016

158

PRIOR AUDIT FINDING FOR FINANCIAL STATEMENTS 2015- A Report Preparation

Material Weakness

Initial Fiscal Year Finding Occurred: June 30, 2014 Finding Summary: One of the components of an effective system of internal control over financial

reporting is the preparation of financial statements that do not require adjustment as part of the audit process. Several instances were noted that required audit adjustments to the records of Elko County.

Status: Not corrected. The Finding has been repeated as Finding 2016-A. 2015- B Capital Asset

Material Weakness Initial Fiscal Year Finding Occurred: June 30, 2010 Finding Summary: Busses received through donation to Elko Area Transportation System were not

properly recorded as additions to capital assets, resulting in an adjustment of $34,000. Retainage paid in prior year was incorrectly expensed in current year resulting in an adjustment of $29,747.

Status: Not fully corrected. Capital asset adjustments have been repeated in Finding

2016-A. 2016- C Controls over Jackpot Utilities

Significant Deficiency Initial Fiscal Year Finding Occurred: June 30, 2015 Finding Summary: Utility receivables recorded for the Town of Jackpot were based on collections

in July 2015 and receivables were not recorded based on the accrual basis of accounting (i.e. no receivables for delinquent accounts collected after July 2015). In addition, the dwelling unit reports provided to management did not reconcile to the dwelling units maintained by the clerk in a separate system that were used by the clerk for monthly billings.

Status: Not corrected. The Finding has been repeated as Finding 2016-D. PRIOR AUDIT FINDING FOR FEDERAL AWARD PROGRAMS:

No findings reported in the prior year.

AUDITOR’S COMMENTS


ELKO COUNTY

TOWN OF MOUNTAIN CITY SCHEDULE OF FEES IMPOSED SUBJECT TO THE PROVISION OF NRS 354.5989

LIMITATION OF FEES FOR BUSINESS LICENSES FOR THE YEAR ENDED JUNE 30, 2016

159

Flat Fixed Fees: Business license revenue for the year ended June 30, 1991 (base year) adjusted through June 30, 2015 $ 1,373 Adjustment to Base: Base year Percentage change in population of local government 0.00% Percentage increase in the Consumer Price Index for the year ending on December 31,

next preceding the year for which the limit is being calculated

0.50%

x

0.50% 7 Adjusted base at June 30, 2016 1,380 Actual revenue 1055 Amount over (under) allowable amount $ (325)


160

AUDITOR’S COMMENTS To the Honorable Board of Commissioners of Elko County, State of Nevada

In connection with our audit of the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the County of Elko, Nevada (the County) as of and for the year ended June 30, 2016, and the related notes to the financial statements, nothing came to our attention that caused us to believe that County failed to comply with the specific requirements of Nevada Revised Statutes other than those cited below. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the County’s noncompliance with the requirements of Nevada Revised Statutes cited below, insofar as they relate to accounting matters.

Current Year Stature Compliance

The required disclosure on compliance with Nevada Revised Statutes and the Nevada Administrative Code is contained in Note 3 to the financial statements. Progress on Prior Year Statute Compliance In the prior year, apparent over expenditures of NRS 354.626 occurred in various funds. The County monitored expenditures during the current year in order to prevent over expenditures, however, as reported in Note 3 to the financial statements, there were instances of over expenditures at June 30, 2016. All other statute noncompliance was corrected. Disposition of Prior Year Audit Recommendations The prior year audit findings were implemented, with the exception of Finding 2015-A, 2015-B and 2015-C which are included in the current year as findings 2016-A and 2016-D. Current Year Audit Recommendations Our recommendations for the current year are included in the Schedule of Findings and Questioned Costs.


SECONDARY DISCLOSURES FOR MUNICIPAL BOND ISSUES

June 30, 2015 June 30, 2014

Total Accrued Liability $ 46,070,157,029 $ 43,997,060,180

Net Assets 34,610,720,184 33,575,081,157

Unfunded Accrued Liability $ 11,459,436,845 $ 10,421,979,023

Assets as % of Total Accrued Liability 75.13% 76.31%

Source: June 30, 2015 and June 30, 2014 Public Employees' Retirement System of Nevada Comprehensive Annual Financial Reports

161

TOTAL AND UNFUNDED ACCRUED LIABILITIESPUBLIC EMPLOYEES' RETIREMENT SYSTEM

STATE OF NEVADA

ELKO COUNTY

(UNAUDITED)

All Members

2007 2008 2009 2010(Audited) (Audited) (Audited) (Audited)

Revenues:Taxes $ 5,119,021 $ 5,035,471 $ 7,397,130 $ 6,638,134 Licenses and permits 1,050,323 779,994 754,793 627,344 Intergovernmental 11,074,825 9,959,245 8,578,546 7,844,290 Charges for services 2,235,173 2,384,638 2,477,071 2,574,986 Fines and forfeitures 1,244,084 1,387,430 1,495,637 1,312,076 Miscellaneous 1,933,577 2,906,706 1,914,433 1,473,408

Total Revenues 22,657,003 22,453,484 22,617,610 20,470,238

Expenditures:General government 5,875,578 5,558,702 5,922,985 6,028,252 Public safety 8,880,215 9,578,813 10,104,818 10,634,879 Judicial 5,046,208 5,289,705 5,588,920 6,012,838 Public works 930,463 963,321 1,082,716 1,129,355 Health 131,195 118,314 206,285 221,118 Debt service 189,133 189,725 90,310 53,553 Contingency - - - -

Total Expenditures 21,052,792 21,698,580 22,996,034 24,079,995

Excess (Deficiency) of Revenuesover Expenditures 1,604,211 754,904 (378,424) (3,609,757)

Other Financing Sources (Uses):Transfers in 1,950,000 2,040,910 1,940,000 2,557,472 Transfers out (823,345) (4,643,279) (1,616,366) (1,292,498) Debt issued 150,000 - - 245,000

Total Other FinancingSources (Uses) 1,276,655 (2,602,369) 323,634 1,509,974

Net Change in Fund Balances 2,880,866 (1,847,465) (54,790) (2,099,783)

Fund Balance, July 1 6,827,651 9,835,898 7,988,433 7,815,642

Prior Period Adjustment 127,381 - (118,001) -

Fund Balance, June 30 $ 9,835,898 $ 7,988,433 $ 7,815,642 $ 5,715,859

162

FOR YEARS ENDED JUNE 30

SUMMARY SCHEDULE OF REVENUES, EXPENDITURES ANDCHANGES IN FUND BALANCES

GENERAL FUND - BUDGETARY BASIS

ELKO COUNTY

2011 2012 2013 2014 2015 2016 2017(Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Budgeted)

$ 7,090,528 $ 8,241,982 $ 7,811,568 $ 9,156,176 $ 8,949,400 9,029,091 8,988,291 886,489 1,037,236 1,100,865 777,477 878,704 843,282 825,000

10,132,842 12,046,444 13,231,353 11,918,208 12,120,416 13,058,278 11,694,169 2,570,898 3,003,395 2,894,694 2,863,248 2,626,889 2,853,434 2,848,818 1,007,623 927,116 1,188,395 1,463,392 1,403,929 1,305,899 1,300,000

807,560 1,256,514 1,024,185 884,612 882,229 944,152 850,000

22,495,940 26,512,687 27,251,060 27,063,113 26,861,567 28,034,136 26,506,278

6,208,445 5,852,999 6,217,900 6,734,103 6,728,167 6,958,684 7,210,752 10,866,990 10,736,309 11,562,704 12,141,453 13,041,436 14,085,032 13,515,935

6,162,495 6,520,471 6,778,348 7,461,283 7,960,080 8,342,209 8,325,004 1,284,370 1,210,826 1,310,421 1,318,543 1,360,544 1,264,831 1,380,324

263,634 810,037 822,602 702,046 724,497 935,371 998,639 13,831 115,081 109,350 21,200 20,600 - -

- - - - - - 300,000

24,799,765 25,245,723 26,801,325 28,378,628 29,835,324 31,586,127 31,730,654

(2,303,825) 1,266,964 449,735 (1,315,515) (2,973,757) (3,551,991) (5,224,376)

2,429,593 5,225,000 3,043,947 2,758,833 3,781,181 3,741,843 4,151,379 (1,462,816) (1,843,612) (4,291,000) (4,672,900) (1,296,133) (641,500) (625,000)

- - - - - - -

966,777 3,381,388 (1,247,053) (1,914,067) 2,485,048 3,100,343 3,526,379

(1,337,048) 4,648,352 (797,318) (3,229,582) (488,709) (451,648) (1,697,997)

5,715,859 4,378,811 9,121,210 8,323,892 5,094,310 4,605,601 3,585,245

- 94,047 - - - - -

$ 4,378,811 $ 9,121,210 $ 8,323,892 $ 5,094,310 $ 4,605,601 $ 4,153,953 $ 1,887,248

Operating Revenues $ 5,404,615 $ 5,300,000

Operating Expenses 5,178,156 5,300,000

Nonoperating Revenues (Expenses) 33,892 -

Change in Net Position 260,351 -

Net Position, July 1 2,825,343 -

Net Position, June 30 $ 3,085,694 $ -

BudgetJune 30, 2016

163

ELKO COUNTYGROUP HEALTH INSURANCE INTERNAL SERVICE FUND

FOR THE YEAR ENDED JUNE 30, 2016(UNAUDITED)

June 30, 2016Actual

FISCAL NET PROCEEDS PERCENTYEAR OF MINES CHANGE

1995 $ 612,817,517 $ 24,000,000 $ 636,817,517 4.80%1996 656,079,055 15,694,164 671,773,219 5.49%1997 705,262,008 5,358,757 710,620,765 5.78%1998 755,146,300 75,000,000 830,146,300 16.82%1999 786,991,056 130,000,000 916,991,056 10.46%2000 834,439,076 130,000,000 964,439,076 5.17%2001 861,338,895 135,000,000 996,338,895 3.31%2002 864,632,885 77,000,000 941,632,885 -5.49%2003 871,951,191 70,000,000 941,951,191 0.03%2004 864,466,539 60,000,000 924,466,539 -1.86%2005 869,494,077 100,000,000 969,494,077 4.87%2006 882,222,949 100,000,000 982,222,949 1.31%2007 937,053,541 57,000,000 994,053,541 1.20%2008 980,626,160 80,000,000 1,060,626,160 6.70%2009 1,082,269,103 140,000,000 1,222,269,103 15.24%2010 1,162,092,329 112,227,792 1,274,320,121 4.26%2011 1,198,308,576 236,355,357 1,434,663,933 12.58%2012 1,192,226,529 297,992,377 1,490,218,906 3.87%2013 1,299,995,815 296,593,339 1,596,589,154 7.14%2014 1,620,208,475 162,627,217 1,782,835,692 11.67%2015 1,751,449,709 95,388,824 1,846,838,533 3.59%2016 1,786,375,922 115,561,277 1,901,937,199 2.98%2017 1,867,776,811 140,131,482 2,007,908,293 5.57%

(UNAUDITED)

ASSESSED VALUATION

164

TOTAL ASSESSEDVALUATION

ELKO COUNTY

ASSESSED VALUATIONFOR YEARS ENDED JUNE 30

SECURED PROPERTY

COLLECTEDFISCAL NET TOTAL TAXES AS A % OFYEAR LEVY ROLL COLLECTED TAXES LEVIED

1992 $ 9,085,725 $ 9,063,822 99.8%1993 11,139,375 11,106,272 99.7%1994 11,184,896 11,079,159 99.1%1995 11,480,400 11,399,319 99.3%1996 12,686,002 12,269,260 96.7%1997 14,084,938 13,810,637 98.1%1998 15,070,432 14,775,762 98.0%1999 16,390,018 15,988,478 97.6%2000 17,277,620 16,849,462 97.5%2001 17,912,429 16,862,073 94.1%2002 18,451,074 17,278,181 93.6%2003 19,256,976 18,420,688 95.7%2004 19,855,267 19,479,401 98.1%2005 20,167,083 19,786,527 98.1%2006 20,627,505 20,405,270 98.9%2007 22,217,789 21,959,796 98.8%2008 22,556,270 22,165,669 98.3%2009 24,990,819 24,324,155 97.3%2010 26,163,389 25,466,057 97.3%2011 26,568,570 26,016,207 97.9%2012 26,898,489 26,560,391 98.7%2013 28,353,221 28,019,363 98.8%2014 30,447,227 30,091,496 98.8%2015 32,951,070 32,687,983 99.2%2016 33,747,905 33,471,869 99.2%

165

TAX LEVIES, COLLECTIONS AND DELINQUENCIESFOR YEARS ENDED JUNE 30

ELKO COUNTYSECURED PROPERTY

(UNAUDITED)

TYPE OF ASSESSED % OF COUNTYBUSINESS VALUE ASSESSED VALUE

1. Ruby Pipeline LLC Gas Distribution $ 212,937,221 10.60%2. Union Pacific Railroad Railroad 73,967,692 3.68%3. NV Energy Utility 42,119,453 2.10%4. Peppermill Casinos Inc. Hotel/Gaming 32,962,009 1.64%5. Newmont Mining Mining 31,587,390 1.57%6. Ormat Mining 31,500,000 1.57%7. Barrick Goldstrike Mines Inc. Mining 25,231,987 1.26%8. Wendover Casinos Inc. Hotel/Gaming 24,820,899 1.24%9. Citizens Telecommunications Company Utility 15,771,214 0.79%

10. Gold Merger Sub LLC Hotel/Gaming 15,591,736 0.78%

$ 506,489,601 25.22%

Based on Fiscal Year 2016-2017 total County assessed valuation of $2,007,908,293.

166

TAXPAYER

ELKO COUNTYTEN LARGEST PROPERTY OWNERSFOR THE YEAR ENDED JUNE 30, 2016

(UNAUDITED)

Average Statewide Rate $ 3.1115 $ 3.1182 $ 3.1124 $ 3.1471 $ 3.1526 $ 3.1727

City of Elko $ 0.7200 $ 0.8200 $ 0.9200 $ 0.9200 $ 0.9200 $ 0.9200Elko County 0.8419 0.8419 0.8386 0.8386 0.8386 0.8386Elko County School District 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000Special Districts 0.0643 0.0648 0.0661 0.0671 0.0681 0.0681State of Nevada 0.1700 0.1700 0.1700 0.1700 0.1700 0.1700

Total $ 3.2962 $ 3.3967 $ 3.4947 $ 3.4957 $ 3.4967 $ 3.4967

Per $100 of assessed valuation.

2007 2009

(UNAUDITED)

167

200620052004 2008

ELKO COUNTYSTATEWIDE AVERAGE AND OVERLAPPING TAX RATES

FOR YEARS ENDED JUNE 30

$ 3.2162 $ 3.132 $ 3.1171 $ 3.1212 $ 3.1212 $ 3.1232 $ 3.136 $ 3.15

$ 0.9200 $ 0.9200 $ 0.9200 $ 0.9200 $ 0.9200 $ 0.9200 $ 0.9200 $ 0.92000.8386 0.8386 0.8386 0.8386 0.8386 0.8386 0.8386 0.83861.5000 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000 1.50000.0681 0.0681 0.0537 0.0537 0.0537 0.0537 0.0537 0.05370.1700 0.1700 0.1700 0.1700 0.1700 0.1700 0.1700 0.1700

$ 3.4967 $ 3.4967 $ 3.4823 $ 3.4823 $ 3.4823 $ 3.4823 $ 3.4823 $ 3.4823

2017(budgeted)20152010 2012 20142011 2013 2016

OUTSTANDING ADDITIONALTOTAL GENERAL STATUTORY

FISCAL ASSESSED DEBT OBLIGATION DEBTYEAR VALUATION LIMIT DEBT CAPACITY

1995 $ 636,817,517 $ 63,681,752 $ 6,815,000 $ 56,866,752 1996 671,773,219 67,177,322 3,283,000 63,894,322 1997 710,620,765 71,062,077 4,418,000 66,644,077 1998 830,146,300 83,014,630 3,525,000 79,489,630 1999 916,991,056 91,699,106 3,660,287 88,038,819 2000 964,439,076 96,443,908 2,898,728 93,545,180 2001 996,338,895 99,633,890 3,051,889 96,582,001 2002 941,632,885 94,163,288 5,935,336 88,227,952 2003 941,951,191 94,195,119 4,871,732 89,323,387 2004 924,466,539 92,446,654 1,124,248 91,322,406 2005 969,494,077 96,949,408 700,702 96,248,706 2006 965,348,220 96,534,822 1,445,154 95,089,668 2007 994,345,220 99,434,522 3,373,303 96,061,219 2008 1,060,626,160 106,062,616 4,232,794 101,829,822 2009 1,222,269,103 122,226,910 13,919,272 108,307,638 2010 1,274,320,121 127,432,012 21,875,278 105,556,734 2011 1,437,085,780 143,708,578 21,905,156 121,803,422 2012 1,490,218,906 149,021,891 764,192 148,257,699 2013 1,596,589,154 159,658,915 392,471 159,266,444 2014 1,782,835,692 178,283,569 90,000 178,193,569 2015 1,846,838,533 184,683,853 45,000 184,638,853 2016 1,901,937,199 190,193,720 - 190,193,720 2017 2,007,908,293 200,790,829 - 200,790,829

168

ELKO COUNTY

FOR YEARS ENDED JUNE 30STATUTORY DEBT LIMITATION

(UNAUDITED)

PRINCIPALDATE OF ORIGINAL OUTSTANDING

ISSUE NOTE/ISSUE JUNE 30, 2016

REVENUE BONDS

GENERAL COUNTY

Tuscarora Water Enterprise Funds:Water System Improvement Bonds 6/18/1980 $ 40,500 $ -

TOWN OF JACKPOT

Water Enterprise Fund:Water Bonds, Series 2012A 5/15/2012 695,000 646,681

Water Bonds, Series 2012B 5/15/2012 1,028,481 956,963

TOTAL BONDS $ 1,763,981 $ 1,603,644

169

OUTSTANDING BONDED INDEBTEDNESSFOR THE YEAR ENDED JUNE 30, 2016

ELKO COUNTY


FISCAL YEAR Interest Interest

2017 $ 12,452 $ 12,820 $ 18,433 $ 18,971 $ 30,885 $ 31,791 2018 12,703 12,569 18,805 18,599 31,508 31,168 2019 12,960 12,312 19,185 18,219 32,145 30,531 2020 13,221 12,051 19,572 17,832 32,793 29,883 2021 13,488 11,784 19,967 17,437 33,455 29,221 2022 13,761 11,511 20,370 17,034 34,131 28,545 2023 14,038 11,234 20,781 16,623 34,819 27,857 2024 14,322 10,950 21,201 16,203 35,523 27,153 2025 14,610 10,661 21,629 15,775 36,239 26,436 2026 14,906 10,366 22,065 15,339 36,971 25,705 2027 15,206 10,066 22,510 14,894 37,716 24,960 2028 15,513 9,759 22,965 14,439 38,478 24,198 2029 15,827 9,445 23,428 13,976 39,255 23,421 2030 16,146 9,126 23,901 13,503 40,047 22,629 2031 16,472 8,800 24,384 13,020 40,856 21,820 2032 16,804 8,468 24,876 12,528 41,680 20,996 2033 17,144 8,128 25,378 12,026 42,522 20,154 2034 17,490 7,782 25,890 11,514 43,380 19,296 2035 17,843 7,429 26,413 10,991 44,256 18,420 2036 18,203 7,069 26,946 10,458 45,149 17,527 2037 18,570 6,702 27,490 9,914 46,060 16,616 2038 18,945 6,327 28,045 9,359 46,990 15,686 2039 19,327 5,945 28,611 8,793 47,938 14,738 2040 19,718 5,554 29,188 8,216 48,906 13,770 2041 20,115 5,157 29,777 7,627 49,892 12,784 2042 20,521 4,751 30,378 7,026 50,899 11,777 2043 20,936 4,336 30,992 6,412 51,928 10,748 2044 21,358 3,914 31,617 5,787 52,975 9,701 2045 21,789 3,483 32,255 5,149 54,044 8,632 2046 22,229 3,043 32,906 4,498 55,135 7,541 2047 22,678 2,594 33,571 3,833 56,249 6,427 2048 23,136 2,136 34,248 3,156 57,384 5,292 2049 23,603 1,669 34,939 2,465 58,542 4,134 2050 24,079 1,193 35,645 1,759 59,724 2,952 2051 24,565 707 36,364 1,040 60,929 1,747 2052 22,003 213 32,238 309 54,241 522

TOTAL $ 646,681 $ 260,054 $ 956,963 $ 384,724 $ 1,603,644 $ 644,778

TOWN OF JACKPOT

SERIES A

TOWN OF JACKPOT

ELKO COUNTYANNUAL GENERAL OBLIGATION AND REVENUE BONDS

DEBT SERVICE REQUIREMENTSAS OF JUNE 30, 2016

TOTAL

WATERENTERPRISE BONDS

WATERENTERPRISE BONDS

SERIES BPrincipal Principal Principal Interest

170

Note: The above schedule lists the Revenue Bonds outstanding for Elko County, in accordance with debt service requirements.


Documents

ELKO COUNTY, NEVADA JUNE 30, 2016...County, State of Nevada, as of June 30, 2016, and the respective changes in financial position, and, where applicable, cash flows thereof for the