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TO: BOARD OF SWI .'RVISORS
FROM: Finance Committee Contra
Costa
DATE: December 13, 1983 County
SUBJECT: County Policy with Respect to Proceeds from Sale
of Fixed Assets by Special District
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
Proceeds from the sale of surplus fixed assets acquired by special districts
which were not financed either partially or wholly by an allocation from the
Special District Augmentation Fund may:! be allowed to revert to a Capital
Outlay Fund of the District provided that a specific plan for proposed use
of the proceeds is submitted and approved. The deposit in the Capital
Outlay Fund of the net proceeds after deducting any County charges related
to sale will accrue interest from investment in accordance with County
policy.
Proceeds from the sale of surplus fixed assets originally financed by an
allocation from the Special District Augmentation Fund shall revert to said
Fund in the same proportion as provided for in the original acquisition with
the same above terms and conditions applicable to the proceeds reverting to
the District.
BACKGROUND
Fire Chief M. Blodgett, San Ramon Valley Fire Protection District, has
raised the following policy question:
"If proceeds from sale of the surplus San Ramon site were realized,
may we have assurance from the County that they can be retained in our
Capital Outlay Fund for future Blackhawk station construction or other
District equipment needs?"
It is the opinion of the Finance Committee that retention of the proceeds
by the District is equitable and appropriate under the conditions indicated
in the above recommendation. This policy will encourage disposition of
surplus property. The policy also will ensure that the proceeds will be
applied to meet identified district needs and not be simply sheltered from
use in the allocation of funds by the Board of Supervisors .
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF CbUNTY ADMINISTRATOR xx RECOMMENDATION OF BOARD COMMITTEE
XX APPROVE OTHER
SIGNATURE(S) Supervisor T. Torlakson Supervisor S. W. McPeak
ACTION OF BOARD ON December 13, 1983 APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
_ X UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE D,A,TE/ SHOWN. �j
CC: San Ramon Fire Protection DlstrictATTESTED ��1�'!'- �/� / I ./&v
County Auditor-Controller J.R. OLSSON, COUNTY CLERK
County Administrator ND EX OFFICIO CLERK OF THE BOAR D
M382/7-83 B DEPUTY