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Consent-General Government # 12.
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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 2019-20. (No general fund impact) (Rinde) |
| Recommended Action |
| Receive and file the Chief Financial Officer's Annual Report on Revolving and Other Cash Funds for 2019-20. |
| Strategic Plan Goal(s) |
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In Support of All Goals |
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| Reason for Recommended Action/Background |
The Board of Supervisors has delegated certain responsibilities related to revolving funds to the Chief Financial Officer (as part of duties of Auditor-Controller) and the County Administrator. This report (Attachment A) summarizes the status and changes in the revolving funds authorized by the Chief Financial Officer during the fiscal year 2019-20, 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 Chief Financial Officer 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, 2020 there were a total of $15,855 in revolving funds, $27,021 in special appropriation funds, and $5,068,887 in other cash funds held outside of the County treasury. In the prior year (June 30, 2019), there was a total $14,755 of revolving funds, $23,169 of special appropriation funds, and $4,617,112 in other cash funds held outside of the County treasury.
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 to the departments. During fiscal year 2019-20, County internal auditors completed a cash audit for the Department of Community Services, Division of Integrated Waste Management and issued the report on August 2, 2019. Internal auditors' review included an evaluation of the divisions' procedures around revolving cash funds. |
| 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. |
| Competitive Bid Process |
| Not applicable. |
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