Title
Health and Human Services Agency (HHSA), Administration and Finance Division, and the Chief Administrative Office (CAO) recommending the Board direct the Auditor-Controller to post the final adjusting journal entry transferring the remaining cash balance and interest earned from the Housing Community Economic Development program originally within HHSA that was functionally transferred to the CAO in Fiscal Year 2012/13.
FUNDING: N/A
Body
DEPARTMENT RECOMMENDATION:
Approval of the journal entry will allow for final closing of the Health and Human Services Agency (HHSA) index codes related to the Housing Community Economic Development (HCED) program. Additionally, it will transfer applicable cash balances to the new funds established in the Chief Administrative Office (CAO).
DISCUSSION / BACKGROUND:
At the end of FY 12/13, the Chief Administrative Officer reassigned the HCED program from HHSA to the CAO, but final journal entries to transfer costs and fund balances were not posted. In FY 13/14, a journal entry to reclassify costs was posted in the County financial system. However, cash balances were not transferred and the cash continued to earn interest into FY 14/15. The journal entry is to distribute interest and cash held in HHSA to the CAO and close the associated HHSA index codes. HCED accounting structure was included within the Community Services Division sub-fund 11-107-001. HHSA prepared a reconciliation that balances the HCED accounts from the month of June 2012 through the transfer of the program to the CAO. Due to the length of time the account has been in FAMIS, it is difficult to provide sufficient evidence of the beginning balances.
Over the past two years HHSA, the CAO and the Auditor’s Office have attempted to reconcile the account balances. However, as a result of accounting practices relative to the HCED funds from prior years, HHSA and the CAO are unable to adequately reconcile the cash differences. Currently, HHSA sub-f...
Click here for full text