El Dorado County Municipal Code Ch. 3.04 Advancing Funds to Local Governments Pending Receipt of Revenue

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State Law reference— Alternative method of distribution of tax levies and collections, Revenue and Taxation Code § 4701 et seq.

This chapter shall be known and may be referred to in all proceedings as the County Finance Ordinance.

(Prior Code, § 5301; Code 1997, § 3.04.010)

The purpose of this chapter is to provide for advancing money to certain local governmental agencies pending receipt of tax revenues from funds available in the County Treasury as authorized by Article IV, Section 31 of the California Constitution and Chapter 3, Part 8, Division 1 of the Revenue and Taxation Code (Revenue and Taxation Code § 4701 et seq.) and to provide for the lawful investment of County Treasury cash balances not needed for current expenditures.

(Prior Code, § 5302; Code 1997, § 3.04.020)

The following words, terms and phrases, when used in this chapter, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Average treasury balance, for a stated number of months, means the total of the calendar month-end balances divided by the number of months computed.

Contra account. The total amount of all funds in the custody of the County Treasurer within the meaning of Article IV, Section 31 of the California Constitution constitutes an account to be known as the "contra account." Transfers from the contra account shall never total more than the amount of the account as defined in this section.

Maintenance deficiency means the amount of money needed to meet obligations incurred for maintenance purposes, including the payment of salaries and maintenance and operation expenditures, in excess of funds currently available to meet such expenditures.

Other participating agencies means all participating governmental agencies except the offices and departments of the County and participating school districts.

Participating governmental agencies means every office and department of the County and every district and political subdivision whose funds are raised wholly or in part by taxes collected at the same time and in the same manner as County taxes are collected, whose funds are in the custody of the County Treasurer and are paid out solely through his or her office, and whose governing body has filed with the County Treasurer its written waiver of its statutory right to authorize specific investment of its funds on deposit in the County Treasury for the particular fiscal year. The waiver may be revoked at the end of any fiscal year by the governing body of the governmental agency by filing its written revocation of the waiver with the County Treasurer any time prior to the end of the fiscal year, but not otherwise.

Participating school district means a school district in the County which is a participating governmental agency.

(Prior Code, § 5303; Code 1997, § 3.04.030)

Prior to July 1 of each year, the County Auditor shall submit to the Board of Supervisors his or her written estimate of the total maintenance deficiency for all County offices and departments and for each other participating agency from July 1 until apportionment of tax revenues. Prior to July 1 of each year, the County Superintendent of Schools shall submit to the Board of Supervisors his or her written estimate of the total maintenance deficiency for all participating school districts from July 1 until apportionment of tax revenues.

(Prior Code, § 5304; Code 1997, § 3.04.040)

As soon as practicable after the commencement of each fiscal year, the Board of Supervisors shall determine the total amount of money needed to meet maintenance deficiencies of all participating governmental agencies from July 1 until apportionment of tax revenues, and shall, by resolution, authorize the County Treasurer to transfer such amount from the contra account to the general reserve; provided, however, that the total amount transferred from the contra account at any one time shall never exceed the amount of the account as defined in this chapter. Should the determination prove insufficient to provide sufficient funds in the general reserve to meet maintenance deficiencies of participating governmental agencies prior to the apportionment of tax revenues, the Board of Supervisors may, by resolution, authorize the County Treasurer to make additional transfers from the contra account to the general reserve for such purpose; provided, however, that the total amount transferred from the contra account at any one time shall never exceed the amount of the account as defined in this chapter.

(Prior Code, § 5305; Code 1997, § 3.04.050)

Prior to the first day of each of the first nine months of every fiscal year, the County Auditor shall submit to the Board of Supervisors his or her written estimate of the maintenance deficiency for each office and department of the County and for each other participating agency for the next ensuing calendar month. Prior to the first day of the first nine months of every fiscal year, the County Superintendent of Schools shall submit to the Board of Supervisors his or her written estimate of the maintenance deficiency for each participating school district for the next ensuing calendar month.

(Prior Code, § 5306; Code 1997, § 3.04.060)

As soon as practicable after the first day of each of the first nine months of every fiscal year, the Board of Supervisors shall authorize the transfer of sufficient moneys from the general reserve to the appropriate funds of each participating governmental agency to meet the estimated maintenance deficiency for the agency during the calendar month; provided that the Board of Supervisors determines there is a sufficient balance in the general reserve available for such purpose, and provided, further, that all of the monthly transfers for the fiscal year to any participating governmental agency shall not total more than 85 percent of the taxes accruing to the agency during the fiscal year.

(Prior Code, § 5307; Code 1997, § 3.04.070)

Upon an apportionment of tax revenues to a participating governmental agency, the County Auditor and County Treasurer shall replace all the moneys theretofore transferred from the general reserve to the participating governmental agency to the extent of the apportionment before the apportionment of tax revenues may be used to meet any other obligation. The County Auditor and County Treasurer shall replace all funds transferred from the contra account as soon as practicable after reimbursement of the general reserve and, in any event, prior to the last Monday in April for each fiscal year.

(Prior Code, § 5308; Code 1997, § 3.04.080)

By resolution dated June 10, 1957, the Board of Supervisors has placed in effect in the County the alternative procedure for the distribution of property tax levies set forth in Chapter 3, Part 8, Division 1 of the Revenue and Taxation Code (Revenue and Taxation Code § 4701 et seq.), pursuant to Revenue and Taxation Code § 4702.

(Prior Code, § 5311; Code 1997, § 3.04.090)

The County Treasurer is authorized and directed to invest such cash balances in the contra account, without regard to particular funds making up the account, in interest-bearing deposits in lawful depositories in the County or other lawful investments, as are not needed during the investment term to meet authorized expenditures.

(Prior Code, § 5321; Code 1997, § 3.04.100)