Sign Nevada Banking Permission Slip Later

Industry sign banking nevada permission slip later

thank you will the secretary please call roll assemblywoman anderson president assemblywoman benitez-thompson here assemblywoman bilbrayaxelrod here assemblywoman considine present assemblyman haven here assemblywoman kasama here sun lemon miller assemblyman o'neill yeah a salmon or liquor here assemblyman roberts and i am present thank you there are 11 of us present that means we have a quorum i'd like to welcome everyone uh watching or listening over the internet to this virtual meeting our meetings for the time being will be held on tuesdays and thursdays in this format only regularly scheduled for 4 p.m on tuesdays and thursdays some housekeeping before we begin members and presenters please mute any electronic devices courtesy and respect in our interactions during the meetings is required additionally courtesy and respect when working with staff before or during the meetings is required as well committee members will be using laptops and possibly other screens and devices to participate in the meeting virtually uh also to view exhibits that type of thing due to this you may see us looking away from the screen with the camera please don't take this as a sign of disrespect or inattention we're just trying to navigate in this new virtual world as a reminder and as stated on our agenda we will have public comment which will occur at the end of the meeting and may be limited in duration details on how to participate during public comment are available on nellis which you can get to on the legislature's website people who wish to testify or um or attend the meeting virtually must pre-register online on the nellis page and registration opens when an agenda is posted to the nevada legislature's website upon successful registration registrants will receive a telephone number meeting id and instructions for joining the meeting also as a reminder per rule number 54 of the assembly standing rules i'm going to go over support opposition and neutral testimony support of a bill means that you support the bill as written or along with proposed amendments that have been approved by the bill's opposition to a bill means that you're not supporting the measure as written or not supposed not supporting the measure as revised by an amendment that was also approved by the sponsor and because of that you can love a bill and support it but if you have any little tweaks you want anything like that that still hasn't been worked out with between you and the sponsor that's opposition but feel free during your testimony to let us know that you love the bill and just need a couple tweaks neutral position on a bill is uh when you offer insight on the measure but you're expressing no position on it um please note also that everyone on the video is a presenter a member of the assembly or staff this may change in the future but for the sake of fairness uh all support opposition and neutral testimony will be taken via the phone so we will now move on to our presentation on assembly bill 13. assembly bill 13 revises requirements related to certain financial reporting by the state controller and with us is our state controller catherine byrne and chief deputy controller lori hoover um so i'll ask uh the controller and the chief deputy to please go ahead good afternoon uh chair assemblyman assemblywoman cohen and members of the assembly committee on revenue for allowing me to speak today about this nevada state controller's office my name is catherine byrne and i'm your nevada state controller nrs title 18 chapter 227 divines the duties and responsibilities of the state controller nrs title 31 chapter 353c covers the collection of debts owed to the state the controller's office has 41 authorized full-time positions divided into four sections consisting of financial reporting operations debt collections and information technology in addition management is comprised of the state controller the chief deputy controller and one executive assistant the financial reporting section is comprised of 10 full-time positions headed by one lead kaffir accountant the financial reporting activity is provided to a broad audience municipal bondholders and underwriters the governor and legislators and the public are provided with the comprehensive annual financial statement which is prepared using accounting principles generally accepted in the united states and is required by the state accounting law the state must follow these accounting standards and standards applicable to state and local governments issued by the government accounting standards board states are required to produce their comprehensive annual financial statements in conformity with these standards to sell municipal bonds and attain federal funds among other things the kafir is required to be included in the single audit a single audit is an audit of a schedule of expenditures of federal awards um also the comprehensive financial statement information is used for accumulating comparable historical data year over year and jurisdiction to jurisdiction the cafe is essential to the marketing and selling of state bonds as well as obtaining federal grant monies another essential function of the financial reporting section is assisting the state agencies with providing reporting information administer their budgets and conducting financial activities associated with their legislatively direct admissions we review certain accounting activity and agencies to ensure that their follow their financial transactions are being recorded in accordance with the state accounting law the state control prepares the popular annual financial statement it's also called a paffer the report is not audited and the paffer is a report with financial data that it's extracted from the kafir and it's communicated in plain language and is designed to give the reader an overview of the state's finances the report is specifically designed to be readily accessible and easily understandable to the general public and other interested parties that are without a background in in public finance the refined the financial reporting section is also responsible for developing the state's counting policies and procedures assisting agencies with accounting questions and issues the approval of journal vouchers and certain transactions posted in advantage we review and enter work programs from the budget division the controller's office prepares the quarterly financial statement of the permanent school fund prepares the quarterly census bureau reports and prepares tables and schedules are included in bond official statements the operating section of the controller's office also called agency services is comprised of 14 full-time headed full-time positions headed by one chief accountant the operations sections include the vendor services desk which which registers and maintains all vendors paid through the state financial statements they are applying foreign vendor backup withholding and they're responsible to irs information return notices and irs levies system administration and financial help desk which includes maintaining the state's financial system and assisting agencies with advantage testing and troubleshooting security for advantage and third party check writing software including user setup and removal federal grant reporting which includes compiling and certifying the state's single audit report we train agencies in grant reporting for the schedule expenditures of federal awards we assist agencies and outside auditors to resolve single audit report audit findings and we prepare the cash mana improvement acts annual report agency services also processes wires does check printing counsels checks and reissue processes agency work programs and related file uploads and journal vouchers they process deposits and wage garments then they set up chart of accounts including budget accounts and categories for federal job numbers other responsibilities of the agency services include completing the state's monthly bank reconciliation and processing and issuing irs form 1099 miscellaneous that is applicable for applicable payments outside of the vendor or inside inside of the advantage system excuse me third section i want to talk about is the debt collection section debt collection section is comprised of four full-time positions headed by one chief accountant the debt collection section is responsible for collecting debt so to the state of nevada and is regulated by chapter 353c of the nevada state written nevada revised statutes and nevada administrative code the debt collection's responsibilities include collecting and managing past dues state receivables using tools such as debt offset and private collection agencies they provide information training and technical assistance to state agencies on collection topics and accounts receivable processes they process and reconcile payments received from debtors they provide reconciling reports to state agencies they are they help with submitting uncollectible accounts receivables for the board of examiners approval for write-off and they compile quarterly and annual year-end accounts receivable reports for the state of nevada which is included in the annual comprehensive the financial report our last section is information technology section it is comprised of 10 full-time positions headed by one it manager 2. the section's responsibilities include systems and network networking which is responsible for maintenance and support of it network and server hardware and the i.t support of controllers office users they are responsible for the maintenance and support of the controller's office databases and the advantage financial system they're responsible for any program changes maintenance and support of the controller's office custom built applications websites and the advantage financial system they are responsible for the security and the management of the controllers security policies and i.t security of the controller's office staff the section also maintains the agency's network servers website applications anti-virus office 365 and users profiles this concludes my presentation of the state controller's office and at this time i'd like to ask if anybody has any questions for us uh thank you controller um i'm not seeing any questions in the chat if anyone does have any questions please let me know um in the meantime i do have a couple of questions um thank you for information about what office does and about the kafir can you um and i really appreciate knowing that the kafir is done uh supposed to be done in a way so that the average person who doesn't have an accounting background can understand um can can you tell me i don't know if you track this but how much are people in nevada looking into the kafir and then reading it yearly um and then if so do you do you know why most people who are who are interested in are looking at it i don't um know the actual number or any specifics about the demographics um but my usual questions come from um the residents that are really involved in the state's the government and how the government runs in the state they typically will will get a cafe every year and they may have questions on it we will have questions from outside outside of the state organizations that again they collect this information year over year so it's comparable data from state to state and in the state it's it's typically just used by other auditors it's included in the single audit but other than that as far as um the general population it's very uns uh it's very seldom do i get them have questions or inquire about a kafir they're more it the the report that is more designed for general population is the popular annual financial report but you are the kafir is kind of in a language that is really uh for those that are um experts in um you know government finances government finance and financial accounting thank you controller i'm sorry i was a bit remiss i should have also um reminded you to make sure for the sake of our secretaries make sure and state your name before speaking um okay and and then i do have another question um can you just go into does does the current law preclude you from from putting the information into the cafe that's in the bill in the new sections um thank you this is catherine burns state controller um the bill is typically is just covering verbiage and this the verbiage that we had uh we have presented um has also been um well you say the the legislature had was it fiscal that they've changed the wording on it than i had originally had so we're just trying to clean up the language and it's just very general so it doesn't get very specific when we name the reports if they could change and and standards change do you want to add to that my deputy will add to that hi this is lori hoover chief deputy sorry uh comptroller's office um we the i don't remember quite when that statute came about but the wording that was in there is based on old names of reports that were in the cafe or or tables or statements and so the goal we had originally started with changing it to what the statement what the um kaffir state now but with talking with the lcv analysts they were helpful in saying maybe we should just make it very general so that if it changes again we don't have to come back to that so it's really only trying to um to take it up maybe a little bit higher and explain in a general way what's going into the capper so that it's not looked at as outdated yeah this is catherine byrne again state controller um also again that that statute was old it is old and outdated so the statements um had changed dramatically since that statute was written thank you for that and just for the sake of clarification i think that would be we'd more properly say that it was actually lcb legal and not physical thank you provided though i apologize no problem um okay thank you and then i do have a question from uh vice chair benitez thompson thank you so much and thank you so much controller for your overview and for the work that you guys do on this so the existing kafir report as it is is just over 200 pages so i was just wondering uh it sounds like this language change is just changing language to reflect what's in the report right now but as we look at that report in the information that's in there would there be anything about that report that would change the report is prepared in accordance with the government accounting standards so they give us a lot of the verbiage um and it's subjective too so but we leave we have guidance on the verbiage but generally we want what's in there that's relevant but much of it is is uh required by this the standards um but uh we we you know we just want in there what's relevant so we don't address every single standard because some of it isn't relevant so typically the format isn't isn't designed by the state government itself thanks a follow-up medical madam chair so so there's not a change to the content as we see it or what's in included in there if there's we're not looking this won't affect like any of the the sections that are in there it won't necessarily change the content of the report that's correct that's correct it would just yeah it doesn't doesn't really change the content other than updating for whatever information we have that year again it's about relevance you know what's relevant today okay do we have any other questions can i have a question from assemblyman thank you madam chair i appreciate it madam controller i'll try to make this quick for you um what's our percentage of recovery on debts 25 000 over and 25 000 less and i want to make sure are the state agencies turning over their debts to you like they're supposed to if i understand correctly this catherine burns state controller thank you for that question we do struggle having the agencies um follow that nrs um it is a constant challenge to get the receivables on time for us to actually have an effective collection process for those and then also what we will have is we have some agreements with some of the larger agencies that they so they will do their own collections uh for example dieter and the department of taxation you know they'll have their who else has mou dmv also does their own collections so we'll et up agreements with with the larger agencies because they do the collection of their debts and then what they will turn over to us is what they feel needs to go to the board of examiners for consideration of write off the ads excuse me my deputy might want to add how successful are you and though in in the debts that are turned over so the ones that are old you don't get you get very very little success rate on the old ones and old i mean over one year over 360. your your odds of collecting those monies are just are really remote after maybe six months or so very small well what i'm curious about is the agencies then that do turn over their debt their current stuff how successful are we in collecting those we had presented we have that schedule presented earlier we don't have it with us right now at this time but i don't did we have a rate of what we collect it's kind of also um you know we have collections for fund 101 and then we have collections for some other funds and typically it's it's um slightly different what um you know the percentage it gets collected um for different types of receivables to do you want to add i know this is lori hoover um chief deputy what i was going to say is yeah unfortunately we don't have a lot of that information in front of us um we can try to get to those percentages if uh later uh send them through to that school we but but we're right we also we also limited our collection efforts through the major part of the pandemic simply because we had so many nevadans out of work yeah so what we have um started up with on controller burns request is that we start looking at large dollar value accounts that are coming in so anything um we were doing over 25 000 that are coming in now we're dropping it down to 10 000 and we're trying to go after those um it just it depends on what type of a stick if you want to say that we have with them if if we're able to do some sort of a garnishment or or or you know require them to pay us it's a lot better if we don't have any reason to get them to pay then sometimes it's harder i would appreciate the numbers i think i'd be getting to get known around the legislatures that carried and stickman but and also please let me know if there's anything we can do to assist in improving your ability to collect on those uh dents so thank you for your time and thank you madam chair for allowing me to ask you're welcome and and please uh send the information through staff and we'll make sure that the whole committee gets it i will yes i'd like to give you as much uh katherine burns state control yeah we would like to give you as much data as as you need that we have or we can give you but the volume of it's very large so we try to get more specific as specific as we can so it doesn't get so convoluted and confusing so um it's just such a wide swath for the state of receivables there's there's just you can't apply one process or one story to any you know across the board other than maybe some processes like collection agencies and write and some oversight ones but again i like to focus on more current debts and um because that's when we're going to have um you know we'll have a better return on our investment if we focus on stuff that's more current and stuff that is larger you know large amounts um and we need agencies to assist us with that because we will need it and we need to know the debt quickly um and yes you as legislators could help um when it comes to trying to collect some of this business debt out of a business and industry and then the last thing i'd like to add was lauria touch on a little bit that yes when we are during this pandemic and also at the last recession we don't um get as assertive and aggressive about collecting as we would normally do during up you know better economic times asking people to pay a debt after i've laid them or we've laid them off we can't pay them their unemployment and then they're going to get a letter from me asking them for money uh same with businesses we asked them we've out we've had them sacrifice so much and then for me to come in later and ask them for at that time at that time and ask them for money um i don't think that improves our relationship with the business and constituent you know the communities that we and the relationships that we want to develop with these businesses and communities so it it kind of gets something you got to apply a little bit of psychology to it thank you controller have you have you ever used um [Music] amnesty programs or do you think when the economy picks up a little you might use an amnesty program to get some of the previous debts paid and let people clear their records without fines and the possibility of loss of any licensing anything like that thank you thank you for that question catherine burn state controller we have not uh to my recollection we have not used any kind of amnesty we have such a wide variety or a wide swath of of what you know the kind of revenue that people owe us you know from medicaid overpayments to a return check to you know a fine that they just you know just aren't going to pay i mean that's just how businesses are i mean they're available especially with fines and penalties i mean it's it's hard so it comes to establishing relationships and we're going to get the money much easier that way and then you have a better relationship with the public okay thank you for that and and for being cognizant of wanting to have good relationships with our businesses and that they are uh going through a lot financially right now as are many of our citizens with that i don't think i see any other questions if anyone's out there no hands okay um so with that i think we'll go to um support uh bps if you can let us know if we've got anyone on the line for support please yes chair to testify in support of assembly bill 13 please press star 9 now to take your place in the queue caller with the last three digits 700 please slowly state and spell your name for the record you will have two minutes and may begin brian wachter b-r-y-a-n-w-a-c-h-t-e-r on behalf of the retail association of nevada we just like to thank the comptroller's office for this bill we do believe that it'll make for a more efficient up-to-date and current look at some of the budget concerns that we think should be influencing the legislative conversation we know we appreciate the report when it's released and so we look forward to the update and we want to thank the controller's office and urge your support of this bill thank you for your input anyone else can support bps well call in user one please slowly spell your name for the record you will have two minutes and you begin now hi this is kim wallin former state controller and i am speaking in support of ab13 um this is something that i did as controller many times when the standards would change we needed to go and change our statutes to comply with the standards so that way we would have a kaffir that is in compliance that the bond rating agencies would use and it would be in conformity with generally accepted accounting principles thank you thank you ms wallace good to hear from you bps anyone else in support please sure there are no more callers in support at this time thank you anyone in opposition chair we do not have any callers in the queue at this time for opposition thank you so with that um controller burn chief deputy controller hoover would you like to make any closing statements thank you assemblywoman cohen no i i think i'm um i was um glad to add in the our discussion about debt collection and how important the relationships are and the the what economic times we're in um you know have an impact on collections and how we do correct so that i just want to say thank you thank you both and with that i will close the hearing on ab13 and we'll move on to public comment as a reminder public comment may be limited based on the number of participants um do we have anyone on the line for public comment bps chair the public line is open and working however there are no callers at this time okay do we have any comments from the members before we adjourn okay uh seeing not i'm going to be adjourning this meeting but first our next revenue committee meeting somewhat up in the air so please keep an eye out for that but with that we will conclude our meeting for today and we are adjourned you