HomeMy WebLinkAbout20-175IIIIIIA**41 tol 111010 1:1119:1011241 10_IYA111fil ill M a 4 All 2 Ill I it • l w
SECTIONSAAM 85220
Resolution No. 20-175
WHEREAS, the California Constitution, Article XVI, Section 6 and Education Code sections 42620 and 85220
provide that the Treasurer of the County shall have the power and the duty to make such temporary transfer from the
funds in custody as may be necessary to provide funds for meeting the obligations incurred for maintenance purposes by
any school) or community college district whose funds are in custody and are paid out solely through the Treasurer's office;
and
WHEREAS, such temporary transfer of funds shall not exceed 85% of the amount of money which will accrue to
the district, shall not be made prior to the first day of the fiscal year nor after the last Monday in April of the current fiscal
year, and shall be replaced from the first moneys accruing to the district and before any other obligation of the district is
paid from the money accruing; and
WHEREAS, it is necessary to provide funds for meeting the obligations incurred for maintenance purposes by the
school districts and the community college district of Butte County; and,
NOW, THEREFORE, BE IT RESOLVED that the Butte County Board of Supervisors hereby authorizes the Treasurer
and Auditor -Controller, pursuant to the provisions of the California Constitution, Article XVI, Section 6, and Education
Code sections 42620 and 8522.0:
1. Upon receipt of a written request in the form prescribed by the County from the governing body of a school
district or the community college district within Butte County, the Auditor -Controller shall verify the amount that
is available for transfer pursuant to the applicable statute. The Treasurer will then certify whether such funds are
available and authorize a transfer of funds to the district in the amount requested in the district's transfer request.
Such temporary transfer shall not be made prior to the first day of the fiscal year nor after the last Monday in April
of the current fiscal year. The written request from the district must set forth the amount requested and contain
documentation that shows that the amount requested is necessary to meet current expenses. Documentation
shall include detailed cash flows for the applicable period that support maintenance expenses and anticipated
revenues. At a minimum, support for the identified revenues and expenses shall include verifiable State
documents supporting deferred' State allocations. The amount requested must be reviewed and approved by the
County Auditor -Controller. An authorized transfer will be made to the district in one or more installments.
2. The Board of Supervisors of Butte County authorized the Treasurer of Butte County to authorize a temporary
transfers from the funds in custody in conformance with this Resolution upon receipt of a duly adopted Resolution
from the governing body of the school district.
3. The transfers shall be in an amount that does not exceed a total of 85% of moneys accruing to the district by June
30, as certified by the district's Superintendent, which amount shall be verified by the County Auditor -Controller.
4. �FundsmiN be transferred by the Auditor -Controller of Butte Co�nty to the districts requesting such temporary
transfers in the amounts requested by the districts District Superintendent and certified by him/her to be
necessary to provide funds for meeting the obligations incurred by the district, to the extent such amount does
not exceed the maximum amount herein specified' and provided the Treasurer determines that funds in his
custody are available for such transfers.
5. The funds transferred pursuant to this Resolution shall be retnansfermyd by the County Amdhor-Con1ro |erto the
fund from which they were taken from the first moneys accruing tothe district before any other obligation ofthe
district ispaid from the money accruing.
6. Interest on any Transferred funds will accrue monthly and he payable by the District, at a rate equal to the prior
fiscal year gross pool earnings plus 15 basis points, to be set ammua|k/ by the County Treasurer mn1H the entire
amount transferred is repaid. Upon receipt and deposit, the District agrees that the County may immediately
transfer the cash from said revenues Lothe fund from which they were taken for the purpose ofrepaying the
"temporary transfer offunds" obligations. The District also agrees tn reimburse the County for its actual costs in
reviewing, processing, and administering the Distric1"sTransfer request.
PASSED AND ADOPTED bythe Butte County Board of Supervisors this 8mday of December, 2020, bythe following
AYES: Supervisors Connelly, Lucen\Teeter, and Chair Lambert
NOES: None
ABSENT: Supervisor Ritter
Steve Lamber�"Ahair
Butte County Board of Supervisors
Andy Pickett, Chief Administrative Officer
and Clerk oFthe Board ofSupervisors