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  Consent-General Government   # 10.       
Financial Services  
Meeting Date: 10/12/2021  
Brief Title:    2020-21 Cash Revolving Funds Report
From: Chad Rinde, Chief Financial Officer, Department of Financial Services
Staff Contact: Merilyn Tiriboyi, Accounting Manager, Department of Financial Services, x8219

Subject
Receive and file the Chief Financial Officer's Annual Report on Revolving and Other Cash Funds for 2020-21. (No general fund impact) (Rinde)
Recommended Action
Receive and file the Chief Financial Officer's Annual Report on Revolving and Other Cash Funds for 2020-21.
Strategic Plan Goal(s)
In Support of All Goals (Internal Departments Only)
Reason for Recommended Action/Background
The Board of Supervisors has delegated certain responsibilities related to revolving funds to the Chief Financial Officer (as part of duties of Auditor-Controller) and the County Administrator. This report (Attachment A) summarizes the status and changes in the revolving funds authorized by the Chief Financial Officer during the fiscal year 2020-21, as required by Government Codes 29321.1 and 29370.1.
 
This report summarizes the cash balances reported by County departments, the changes in fund balances that were authorized by the Chief Financial Officer and any audits performed during the year. The report includes cash on hand as well as cash held in banks outside of the County treasury and under the control of the department heads and elected officials.
 
As of June 30, 2021, there were a total $15,897 of revolving funds, $26,739 of special appropriation funds, and $2,733,402 in other cash funds held outside of the County treasury. 
 
A revolving fund by its nature can generate expenditures equal to multiple times its balance; therefore, it is critical to maintain proper control of these funds. County internal auditors periodically carry out audits of these funds countywide and continuously make recommendations for improvement in control to the departments. During fiscal year 2020-21, no cash audits were completed; however, the division of Internal Audits has scheduled cash audits to begin again during fiscal year 2021-22.
Collaborations (including Board advisory groups and external partner agencies)
This report is a compilation of cash reports submitted by all County departments with revolving and special appropriations funds.

Fiscal Impact
No Fiscal Impact
Fiscal Impact (Expenditure)
Total cost of recommended action:    $  
Amount budgeted for expenditure:    $  
Additional expenditure authority needed:    $  
On-going commitment (annual cost):    $  
Source of Funds for this Expenditure
$0
Attachments
Att. A. Revolving Funds Report 6-30-21

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Form Review
Inbox Reviewed By Date
Chad Rinde Chad Rinde 10/04/2021 04:29 PM
Joanne Vanhoosear Joanne Vanhoosear 10/05/2021 08:10 AM
Elisa Sabatini Elisa Sabatini 10/05/2021 08:15 AM
Form Started By: Merilyn Tiriboyi Started On: 08/20/2021 03:37 PM
Final Approval Date: 10/05/2021

    

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