To: BOARD OF SUPERVISORS
From: Auditor-Controller Treasurer-Tax Collector
Meeting Date: September 24, 2024
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Department Contact: |
Sara Pierce |
Phone: |
707-234-6860 |
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Item Type: Consent Agenda |
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Time Allocated for Item: N/A |
Agenda Title:
title
Authorization for the Acting Auditor-Controller/Treasurer-Tax Collector to Transfer Remaining Funds Held For Fort Bragg Rural Fire District, Under Fund 3450, Object 010000, as of September 26, 2024, from The County Treasury to Savings Bank of Mendocino County for Operating Funds and to Local Agency Investment Fund (LAIF) for Investments
End
Recommended Action/Motion:
recommendation
Authorize the Acting Auditor-Controller/Treasurer-Tax Collector to transfer remaining funds held for Fort Bragg Rural Fire District, under fund 3450, object 01000, as of September 26, 2024 from the County Treasury to Savings Bank of Mendocino County for operating funds and Local Agency Investment Fund (LAIF) for investments.
End
Previous Board/Board Committee Actions:
None.
Summary of Request:
Pursuant to Government Code Title 6, Division 3, Part 3, Chapter 4, Section 61053, the Special District can request to withdraw funds from the County Treasury if:
(a) Notwithstanding Section 61052, a district may establish an alternative depositary pursuant to this section.
(b) The board of directors shall appoint a district treasurer who shall serve in the place of the county treasurer.
(c) The board of directors shall adopt a resolution that does each of the following:
1. State its intention to withdraw its money from the county treasury.
2. Fix the amount of the bond for the district treasurer and other district employees who will be responsible for handling the district’s finances. The district shall pay the cost of the bonds.
3. Adopt a system of accounting and auditing that shall completely and at all times show the district’s financial condition. The system of accounting and auditing shall adhere to generally accepted accounting principles.
4. Adopt a procedure for drawing and signing checks, provided that the procedure adheres to generally accepted accounting principles. The procedure shall provide that bond principal and salaries shall be paid when due. The procedure may provide that checks to pay claims and demands need not be approved by the board of directors before payment if the district treasurer determines that the claims and demands conform to the district’s approved budget.
5. Designate a bank, a savings and loan association, or a credit union as the depositary of the district’s money. A bank, savings and loan association, or credit union may act as a depositary, paying agent, or fiscal agency for the holding or handling of the district’s money, notwithstanding the fact that a member of the board of directors, whose funds are on deposit in that bank or savings and loan association is an officer, employee, or stockholder of that bank or savings and loan association, or of a holding company that owns any of the stock of that bank or savings and loan association.
(d) The board of directors and the board of supervisors of the principal county shall determine a mutually acceptable date for the withdrawal of the district’s money from the county treasury, not to exceed 15 months from the date on which the board of directors adopts its resolution.
(e) In implementing this section, the district shall comply with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5. Nothing in this section shall preclude the district treasurer from depositing the district’s money in the county treasury of the principal county or the State Treasury pursuant to Article 11 (commencing with Section 16429.1) of Chapter 2 of Part 2 of Division 4 of Title 2.
(f) The district treasurer shall make quarterly or more frequent written reports to the board of directors, as the board of directors shall determine, regarding the receipts and disbursements and balances in the accounts controlled by the district treasurer. The district treasurer shall sign the reports and file them with the general manager.
Alternative Action/Motion:
Provide direction to staff.
Strategic Plan Priority Designation: An Effective County Government
Supervisorial District: All
Vote Requirement: Majority
Supplemental Information Available Online At: N/A
Fiscal Details:
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source of funding: NA |
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current f/y cost: NA |
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budget clarification: N/A |
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annual recurring cost: N/A |
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budgeted in current f/y (if no, please describe): No |
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revenue agreement: No |
AGREEMENT/RESOLUTION/ORDINANCE APPROVED BY COUNTY COUNSEL: N/A
CEO Liaison: Executive Office
CEO Review: Yes
CEO Comments:
FOR COB USE ONLY
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Executed By: Atlas Pearson, Senior Deputy Clerk |
Final Status: Approved |
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Date: September 24, 2024 |
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