REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION
June 23, 2020
FROM
ENSEN MASON, Auditor-Controller/Treasurer/Tax Collector
SUBJECT
Title
Temporary Transfer of Funds - Apple Valley Fire Protection District
End
RECOMMENDATION(S)
Recommendation
1. Approve and adopt the recommendation of the Auditor-Controller/Treasurer/Tax Collector for temporary transfer of funds to Apple Valley Fire Protection District in the total amount of $1,922,771, as listed on Attachment A.
2. Adopt Resolution pertaining to the temporary transfer of funds to Apple Valley Fire Protection District, as listed on Attachment A.
(Presenter: Tori Roberts, Assistant Auditor-Controller/Treasurer/Tax Collector, 382-7005)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
Pursue County Goals and Objectives by Working with Other Agencies.
FINANCIAL IMPACT
Approval of this item will not result in the use of additional Discretionary General Funding (Net County Cost). Approval of the temporary transfer of funds (TTF) to Apple Valley Fire Protection District (District) will result in $1,922,771 of pooled funds of the San Bernardino County (County) Treasury being unavailable for County use. The funds will be repaid, beginning with the first property tax apportionment in November 2020, until the amount is paid in full.
BACKGROUND INFORMATION
The Auditor-Controller/Treasurer/Tax Collector (ATC) has received a request from the District for a TTF, in accordance with the provisions of Article XVI, Section 6 of the California Constitution and Section 23010 of the California Government Code. These provisions authorize the County Treasurer, upon approval by the Board of Supervisors, to execute a TTF to allow a District to meet its obligations. The provisions require the District to pay interest on all funds borrowed at the same rate that the County applies to funds on deposit with t...
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