- Claims by a small minority that IVGID lacks financial transparency is propaganda
- The quarterly Capital Improvement Projects report includes EVERY project and asset the Board has approved, and it demonstrates that IVGID is monitoring all money spent
- It’s time we started thinking critically and stopped listening to propaganda
IVGID just posted the quarterly Capital Improvement Projects (CIP) report. This report shows how money is budgeted, spent and carried over (for multi-year projects) in order take care of our IVGID property and assets. It’s worth paying attention to because a small number of residents habitually claim that IVGID does not have enough financial transparency. Nonsense.
The latest report can be found on the IVGID website at https://www.yourtahoeplace.com/uploads/pdf-ivgid/2018_10_04_11_40_03_CIP_Report_as_of_6.30.18.pdf.
There is good news in this report:
- We only owe $6.9M. That’s less than $770 per parcel, and we’re on a clear path to pay that off in roughly two years, with no increase in rec fees for the last 9 years. Nevada regulates how much a General Improvement District is allowed to borrow; we are less than 1% of that limit.
- You can see every single asset that we spent money on (pages 10-16).
- This report includes EVERY project/asset the Board has approved, and it demonstrates that IVGID is following the Board-approved process for identifying, approving and monitoring all money spent on projects and assets. You can review the September 11, 2018 presentation explaining how IVGID goes from identifying a project, to approving it, to monitoring it: https://www.yourtahoeplace.com/ivgid/resources/ivgid-community-forum.
Some of what IVGID spends money on is pretty simple (e.g., buying new snow gun mounting pedestals). But some are complex because the project takes more than a year to complete, it has many different interrelated parts, and some of the project completion is dependent on what is discovered after the project starts (e.g., the Diamond Peak Culvert Rehabilitation project). It is entirely possible to cherry-pick a small number of facts about a complex project, present those facts out of context, and craft a story that the project is horrendously wrong. That’s called propaganda. If you hear a story about IVGID financials that sounds so out of whack that common sense would say “OMG, this is obviously wrong,” please don’t take it at face value. The way to combat propaganda is with critical thinking.
IVGID financials are regularly audited, reviewed by multiple state agencies, and received annual awards from an accounting association. In order for “OMG, this is obviously wrong” to be true, you’d have to believe that IVGID management is completely incompetent, the IGID Board is incompetent, the auditors are incompetent, and the overseeing state agencies are incompetent. What is more likely: there is mass incompetence, or someone is spreading propaganda?
IVGID is not perfect. But IVGID is generally well run and a LONG way from incompetent. It’s time we started thinking critically and stopped listening to propaganda.