HomeMy WebLinkAbout12.08.20 Final Fund Balance Report
From:Gutierrez, Graciela
To:Alpert, Bruce;Bennett, Robin;Clerk of the Board;Connelly, Bill;Cook, Holly;Lambert, Steve;Lucero, Debra;
McCracken, Shari;Paulsen, Shaina;Pickett, Andy;Ring, Brian;Ritter, Tami;Rodas, Amalia;Sweeney, Kathleen;
Teeter, Doug
Cc:Jessee, Meegan
Subject:Final Fund Balance Report
Date:Tuesday, December 8, 2020 5:17:49 PM
Attachments:Final Fund Balance Audited Report.docx
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Good evening,
We have completed our field audit and are close to publishing the County CAFR. I am at the point in
time when I am able to submit the final audited Fund Balance and adjustments.
Please read the attached and let me know if I may provide additional information.
Take care,
Graciela Gutierrez
Auditor-Controller’s Office
Graciela Gutierrez, MPA
Auditor-Controller
(530)552-3599
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OFFICE OF THE AUDITOR-CONTROLLER
Graciela C. Gutierrez, Auditor-Controller
25 County Center Drive Ste. 120 T: 530.552.3600
buttecounty.net/auditor
Oroville, California 95965 F: 530.538.7693
DATE: December 8, 2020
TO: Board of Supervisors, Chief Administrative Officer
FROM: Graciela C. Gutierrez, Auditor-Controller
SUBJECT: FY 2019-20 Audited Fund Balance and Contingency Adjustment
Per Resolution 20-086, Resolution Adopting Appropriations For The Fiscal Year 2020-2021 County Budget
the Auditor-Controller is requested to report all adjustments to appropriations needed to balance any
fund to the Butte County Board of Supervisors. On September 29, 2020 I provided a report summarizing
the unaudited fund balance for all governmental funds as of 6/30/20. The external auditors have
completed their field work. I am happy to report after completing all closing accounting entries the
Unassigned General Fund Balance closed out an additional $192,335 then initial reported for a total
Unassigned General Fund Balance of $23,016,447. Starting General Fund Appropriation for
Contingencies was increased by that same about for a starting General Fund Appropriation for
Contingencies of $8,216,447.
Fund 0142 CDBG came in $256,611 lower than projected, Fund 5124 Public Health – HPP came in
$37,959 lower than projected and Fund 5125 Public Health – Proposition 56 Tobacco Use Prevention
came in $13,541 lower than projected. As a result Fiscal Year 2020-21 Restricted Appropriations will be
reduced in order to balance the funds.
In addition to providing my final 2019-20 year end report to the Board I wanted to highlight an item in
the CAFR. Typically, the Unassigned Fund Balance reported in the Budget is the same as the Unassigned
Fund Balance reported in the CAFR, however that is not the case this year. This change is due to recent
changes to the reporting requirements related to CARES Act funds. COVID-19 has brought many
challenges. This is just an example of the impacts to the financial statements. The General Fund includes
$6,813,638 of expenditures incurred as a result of COVID-19 as of 6/30/20. The CARES Act funded these
expenditures through the State of California, but the State did not award these revenues to the County
by 6/30, therefore the Governmental Accounting Standards Board (GASB) required revenue of these
CARES Act funds to be reported in Fiscal Year 2020-21 in the CAFR. Although we have to comply with
GASB for CAFR reporting for the purpose of the budget I believe it is more appropriate to match
revenues to expenditures in the same period. For the purpose of the fund balances reported in the
budget we have included the CARES Act funds spent in fiscal year 2019-20 and the revenue receipts to
match for fiscal year 2019-20. I believe that this more accurately reflects the County’s finances.