Title
Treasurer-Tax Collector recommending the Board discontinue the Treasury Oversight Committee pursuant to changes in Section 27131 of the California Government Code.
Body
The Treasurer-Tax Collector is recommending the Board discontinue the Treasury Oversight Committee pursuant to changes in Section 27131 of the California Government Code.
Fiscal Impact/Change to Net County Cost: Cost savings of $3,500 - $5,000
Background:
California Government Code ยง27131 no longer mandates a Treasury Oversight Committee. In an effort to save the County $3,500 - $5,000 annually in audit fees, on March 24, 2011, the Treasury Oversight Committee voted to recommend discontinuing the mandated committee. The committee will continue to meet to discuss and vote on treasury related issues of interest and make recommendations to the Board as needed.
Reason for Recommendation: Reduces County expenditures.
Action to be taken following Board approval: None
Contact: Louise Gresham (x5819) or Ginnie Hibert (x5811)