HomeMy WebLinkAboutAuditor-Controller - FY14-15 Teeter Plan coun
OF N A T U1 R A 1. W EALTH AND LEAUTY.
OFFICE OF THE AUDITOR-CONTROLLER
ADMINISTRATION BUILDING
25 COUNTY CENTER DRIVE"SUITE 120-OROVILLE,CA 95965-3383
TEL(530)538-76177;FAX(530)538-7693
SATE; ,1&1Iy 2 , 201,5 soft OF SUPERVIS)ft
JUL
TO- Board of Supervisors, Chief Administrative Officer Z 4 2015
FRCS . David A. Hauser, Auditor-Controller X � •,�. � .,
SUBJECT: FY 2014-15 Teeter Pian resources and buyout
Per Resolution 15-084, Resolution Adopting the Alternative Method of Distribution of
Tax Levies Policy, commonly known as the Teter Plan,the Auditor-Controller is
requested to report the annual buyout and available resources to farad the buyout,funds
transferred to the General'Fund, levels of reserves held in the Tax Lass Reserve Fund and
all uses of the Tax Loss Reserve Fund to the Butte County Board of Supervisors.
Tax Resources Fund
BEGINNING BALANCE 3,758, 95
Collections and Redemption Corrections 4,146,360.57
Delia uent Secured Buyout ( ,599,.I95,64)
Delinquent Supplemental Secured Buyout (186,'!.61,1 4),
TRANSFER T GE L FU _ 4,.119,
Tx Losses Reserve
BEGINNING BALANCE 11,122,172.30
Penalties and Interest collections 2,655,710.29
Interest earned 93,152.54
Change in Apportionment calculation (329,389.12)
SUBTOTAL 13,541,646.01
3%reserve 'held based can assessed valuation (Q03,5166.91)
TRANSFER TO G EN ERAL FU N D 7,438,079.10
TOTAL TSFE TO G EN ERAL FU N D 11,557,623.44