FY2016 CCDOA Financial Report as of 6302016.pdf - page 129

CLARK COUNTY DEPARTMENT OF AVIATION
CLARK COUNTY, NEVADA
Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
116
As a participant in the County's self-insured programs, the Department is assessed annual fees
based on the allocation of each respective fund. These assessments are charged to the
Department’s expense each year. There is no separate accounting for the Department’s
claims. Accordingly, information regarding claims liability and payments are not presented in
this financial report.
Settled claims from these risks have not exceeded commercial insurance coverage during the
past three years.
16.) AIRPORT LAND TRANSFERS
The Southern Nevada Public Land Management Act of 1998, Public Law 105-263, was enacted
by Congress in October 1998. A provision of this law provides that the Bureau of Land
Management ("BLM"), an agency of the United States Department of the Interior, transfer
approximately 5,000 acres of land to the Department, without consideration, subject to the
following:
1. Valid existing rights;
2. The land must be managed in accordance with the law, with 40 B.SC. §47504 (relating to
airport noise compatibility planning), and with regulations promulgated pursuant to that
section;
3. If any land is sold, leased, or otherwise conveyed by the Department, such sale, lease, or
other conveyance shall contain a limitation that requires uses be compatible with the law
and with Airport Noise Compatibility Planning provisions; and
4. If any land is sold, leased, or otherwise conveyed by the Department, such sale, lease, or
other conveyance shall be at fair market value. The Department contributes 85 percent of
the gross proceeds from the sale, lease, or other conveyance of such land directly to the
BLM for use in purchasing, improving, or developing other land for environmental purposes.
The Department contributes 5 percent of the gross proceeds from the sale, lease, or other
conveyance of such land directly to the State for use in its general education program.
The remainder is available for use by the Department for the benefit of airport
development and the Noise Compatibility Program.
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