File #: 22-0169    Version: 1 Name:
Type: Consent - Open & Responsible Government Status: Agenda Ready
File created: 2/1/2022 In control: Board of Commissioners
On agenda: 3/16/2022 Final action:
Title: No action is requested. This reporting is being provided to meet the quarterly reporting requirement for monetary transfers among budget funds per Board Resolution #09-1262. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)
Attachments: 1. BOC Intrafund Reporting - 4Q2021 signed
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Department

Finance

 

Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)

title

No action is requested.  This reporting is being provided to meet the quarterly reporting requirement for monetary transfers among budget funds per Board Resolution #09-1262. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)     

body

 

Requirement for Board Action (Cite specific Board policy, statute or code requirement)

Board Resolution #09-1262

 

Strategic Priority Area related to this item (If yes, note strategic priority area below)

Open and Responsible Government

 

Commission Districts Affected

All Districts                     

District 1                     

District 2                     

District 3                     

District 4                     

District 5                     

District 6                     

 

Is this a purchasing item?

No

 

Summary & Background

This reporting is being provided to meet the quarterly reporting requirement for monetary transfers among budget funds per Board Resolution #09-1262.  The General Fund had no Intra Fund Borrowings outstanding from any other County Fund as of December 31, 2021.  An Intra Fund borrowing occurs when the general fund balance goes negative utilizing a positive excess cash position from another fund at the County to cover operating cash flow needs.  These borrowings are then tracked daily, interest is imputed daily, and principal and interest are paid back before the close of the fiscal year. 

See attached reporting of all funds that had negative cash position as of 12-31-2021 and had a borrowing position from the County’s general fund.

 

Scope of Work: NA

 

Community Impact: NA

 

Department Recommendation: NA

 

Project Implications: NA

 

Community Issues/Concerns: NA

 

Department Issues/Concerns: NA