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Consent-General Government # 10.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Receive and file the Chief Financial Officer's Annual Report on Revolving and Other Cash Funds for 2016-17. (No general fund impact) (Newens) |
| Recommended Action |
| Receive and file the Chief Financial Officer's Annual Report on Revolving and Other Cash Funds for FY 2016-17. |
| Strategic Plan Goal(s) |
| Operational Excellence |
| Reason for Recommended Action/Background |
The Board of Supervisors has delegated certain responsibilities related to revolving funds to the Auditor-Controller (presently Chief Financial Officer) and the County Administrator. This report (Att. A - Annual Report on Revolving Fund and Other Cash Funds) summarizes the status and changes in the revolving funds authorized by the Auditor-Controller during the fiscal year 2016-17, as required by Government Codes 29321.1 and 29370.1.
This report summarizes the cash balances reported by County departments, the changes in fund balances that were authorized by the Auditor-Controller and any audits performed during the year. The report includes cash on hand as well as cash held in banks outside of the County treasury and under the control of the department heads and elected officials.
As of June 30, 2017, there were a total $14,795 of revolving funds, $12,269 of special appropriation funds, and $3,425,015 in other cash funds held outside of the County treasury. County departments use these revolving funds mostly as petty cash or change funds to expedite small financial transactions throughout the County. A revolving fund by its nature can generate expenditures equal to multiple times its balance; therefore, it is critical to maintain proper control of these funds. County internal auditors periodically carry out audits of these funds countywide and continuously make recommendations for improvement in control at the departments. There were no audits or audit recommendations related to these funds completed in fiscal year 2016-17. |
| Collaborations (including Board advisory groups and external partner agencies) |
| This report is a compilation of cash reports submitted by all County departments with revolving and special appropriations funds. |
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