Nevada § 354.5945 - Capital improvement plan: Preparation and submission; provision to Director of Legislative Counsel Bureau upon request; filing for public inspection; limitation on amount of expenditures; required contents; reconciliation of capital outlay; exemption

§ 354.5945. Capital improvement plan: Preparation and submission; provision to Director of Legislative Counsel Bureau upon request; filing for public inspection; limitation on amount of expenditures; required contents; reconciliation of capital outlay; exemption

1. Except as otherwise provided in subsection 7, each local government shall annually

prepare, on a form prescribed by the Department of Taxation for use by local governments,

a capital improvement plan for the fiscal year ending on June 30 of that year and

the ensuing 5 fiscal years. 2. On or before August 1 of each year, each local government shall submit a copy of

the capital improvement plan of the local government to the: (a) Department of Taxation; and (b) Debt management commission of the county in which the local government is located. The Department of Taxation shall provide a copy of a capital improvement plan of a

local government to the Director of the Legislative Counsel Bureau upon his or her

request. 3. Each local government shall file a copy of the capital improvement plan of the

local government for public record and inspection by the public in the offices of: (a) The clerk or secretary of the governing body; and (b) The county clerk. 4. The total amount of the expenditures contained in the capital improvement plan

of the local government for the next ensuing fiscal year must equal the total amount

of expenditures for capital outlay set forth in the final budget of the local government

for each fund listed in that budget. 5. The capital improvement plan must include the estimated or actual revenues and

expenditures for each capital project and the estimated or actual date for completion

of each capital project. 6. The capital improvement plan must reconcile the capital outlay in each fund in

the final budget for the first year of the capital improvement plan to the final budget

in the next ensuing fiscal year. The reconciliation must identify the minimum level of expenditure for items classified

as capital assets in the final budget and the minimum level of expenditure for items

classified as capital projects in the capital improvement plan. The reconciliation of capital outlay items in the capital improvement plan must

be presented on forms created and distributed by the Department of Taxation. 7. Local governments that are exempt from the requirements of the Local Government

Budget and Finance Act pursuant to subsection 1 of NRS 354.475 are not required to file a capital improvement plan.