RTC reviews quarterly Street and Highway Fund report; prior-year diesel tax available for distribution

The Elko County Regional Transportation Commission reviewed quarterly financial reports for the Regional Street and Highway Fund at its July 16 meeting and approved the financial report as submitted.

A staff presenter summarized the quarter ending June 30, saying the fund had about $10.8 million on hand at that date, with year-to-date revenues of about $4.9 million and expenditures of about $2.3 million. The presenter noted motor vehicle fuel tax receipts of about $2.3 million and diesel fuel tax receipts near $1.9 million for the reporting period, adding that May and June receipts had not yet been fully posted when the snapshot was prepared.

Commissioners asked about downward trends in both tax streams. The staff presenter said the taxes have been trending lower than in prior years and that the commission should monitor receipts. A commissioner asked when last year’s diesel tax would be available for distribution; the presenter said diesel tax from the prior year would be available to entities in the current fiscal year for request and distribution. The presenter and another commissioner clarified the amount available from the prior year diesel tax at approximately $1.78 million and agreed staff would notify city managers that those funds are available for apportionment requests.

Following the discussion, a commissioner moved to approve the financial report as submitted; the motion was seconded and carried by those present.

No formal policy changes were made during the discussion; commissioners directed staff to share diesel-tax availability with city managers so jurisdictions may request apportionments.