TO: Flood Control and Water Conservation District Board
FROM: Tracy Schulze - Auditor-Controller
REPORT BY: Georgina Panganiban -Accountant-Auditor Manager
SUBJECT: Authorization for the Auditor-Controller to prepare necessary entries to close the financial books for the fiscal year ended June 30, 2023.
RECOMMENDATION
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Auditor-Controller requests authorization to prepare the necessary accounting entries to close the financial books for the fiscal year ended June 30, 2023. (4/5 vote required)
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EXECUTIVE SUMMARY
The Auditor-Controller anticipates completing all the necessary accounting entries to close the financial books for the fiscal year ended June 30, 2023 by Friday, September 29, 2023. Completing this process requires approval by the Flood Control and Water District Board of the below entries and requires a 4/5 vote.
The requested actions for approval are:
1. Budget adjustment to increase budget appropriations of $21,841, carrying forward budget from fiscal year 2022-2023 to 2023-2024 for commitments (encumbrances) not fulfilled by June 30, 2023.
2. Re-encumber PO#23002183 for native plants from Cornflower Farms, Inc. in the amount of $21,841.
PROCEDURAL REQUIREMENTS
1. Staff Report
2. Public Comment
3. Motion, second, discussion and vote on item.
FISCAL & STRATEGIC PLAN IMPACT
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Is there a Fiscal Impact? |
Yes |
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Is it currently budgeted? |
No |
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Where is it budgeted? |
The requested adjustments will be funded by the Flood District's available fund balance. |
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Is it Mandatory or Discretionary? |
Discretionary |
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Discretionary Justification: |
Approval of these entries will enable the books to be properly closed in compliance with Generally Accepted Accounting Principles (GAAP) and with State accounting and budgeting practices and also align the Capital Improvement Project budgeting process with the County's budgeting process. |
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Is the general fund affected? |
No |
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Consequences if not approved: |
The Flood Control and Water Conservation District would not be in compliance with Generally Accepted Accounting Principles (GAAP) or State accounting and budgeting practices. |
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County Strategic Plan pillar addressed: |
Effective and Open Government |
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: The proposed action is not a project as defined by 14 California Code of Regulations 15378 (State CEQA Guidelines) and therefore CEQA is not applicable.
BACKGROUND AND DISCUSSION
The Auditor-Controller anticipates completing all the necessary accounting entries to close the fiscal year ended June 30, 2023 by Friday, September 29, 2023. Completing this process requires approval by the Flood Control and Water Conservation District board of the following actions:
Approve a Budget Adjustment to increase appropriations by $21,841 in fiscal year 2023-2024 for encumbrance not fulfilled by June 30, 2023 and re-encumber PO#23002183 for native plants from Cornflower Farms, Inc.