Title
Treasurer-Tax Collector recommending the Board adopt Resolution 132-2013 to delegate authority to the Tax-Collector to transfer unclaimed funds to the general fund as prescribed by California Government Code.
Body
BUDGET SUMMARY:
Total Estimated Cost……………|9 9|
Budgeted…………………………|9 9|
New Funding…………………….
Savings…………………………
Other……………………………
Total Funding Available…………
Change To Net County Cost……|9 9|
Fiscal Impact/Change to Net County Cost
None
Background
Government Code Section 50050 provides that unclaimed funds remaining in the county treasury after three (3) years become the property of the local agency, if not claimed after notice is published in a local newspaper. Government Code Section 50053 authorizes the legislative body of the local agency to transfer the unclaimed funds to the general fund. Government Code Section 50055 authorizes the legislative body of the local agency to transfer unclaimed funds if the amount is less than fifteen dollars ($15) after a period of one year, without need for publication. Government Code Section 50057 provides that for individual items in the amount of five thousand dollars ($5,000) or less, the Board of Supervisors may delegate authority to the Treasurer to perform on the Board's behalf any act required or authorized under Government Code Sections 50050, 50053 and 50055. The resolution shall include the requirement that the County Auditor be advised of each action performed under the authorization.
Reason for Recommendation
The County's interests would best be served by delegating authority to the County Treasurer to transfer unclaimed monies directly into the general fund without further action required by the Board of Supervisors.
Action(s) to be taken following Board approval 1) The Board of Supervisors to adopt a resolution to delegate authority to the Treasurer to transfer unclaimed monies into the general fund pursuant to Government Code Sections 50050, 50053 and 500...
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