Title
Auditor-Controller requesting authorization to make cash advances from the General Fund to various special revenue funds during Fiscal Year 2011-2012 to alleviate negative cash conditions that may occur as a result of the timing of Federal, State and grant funding.
Body
Reason for Recommendation:
Several county funds receive their funding from Federal, State and grant sources on a reimbursement basis. The county departments incur the expenditures first, and then are reimbursed after the fact. Due to this funding mechnism there are times during the year that these funds will experience negative cash until those payments are received.
Those funds for which a cash advance for FY2010/11 were approved by your Board were the Road Fund, Erosion Control, Community Services, Public Health, Mental Health, Airports, Meyers Landfill Site, ACO Fund, IHSS Public Authority and Public Housing Authority. Should there be other funds not listed here tat require an advance during FY2011/12, I will notify the Board within two weeks if that should occur.
Action to be taken following Board approval:
Upon approval of the recommendation, the Auditor-Controller will have the authorization to make cash advances from the General Fund to various special revenue funds to cover negative cash balances in those funds.
Contact: Joe Harn