HomeMy WebLinkAboutMINUTES - 12162014 - C.94RECOMMENDATION(S):
AUTHORIZE the Auditor-Controller to escheat unclaimed property held in the Fines and Fees Trust fund to the
County General Fund. The assets have been held in trust by the County for more than a year and belong to unknown
beneficiaries. Government Code 50050 et seq provides the legal authority for the County to escheat the unclaimed
property to the County General Fund.
FISCAL IMPACT:
The value of the unclaimed property held in Trust is $389,340.81. The Fines and Fees Trust fund 813100 will incur a
$389,340.81 disbursement and the General Fund will recognize $389,340.81 in miscellaneous revenue.
BACKGROUND:
Fund 813100, Fines and Fees Distribution Trust, accounts for the collection and distribution of fines and fees.
Collections are distributed to the state, cities, and county. Fund 813100 includes unclaimed monies that have been
held in the trust fund for more than a year and as far back as the early 1980’s. The inactive/unclaimed accounts were
discovered as a
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 12/16/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Jennifer Webber
925-646-2891
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: December 16, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 94
To:Board of Supervisors
From:Robert Campbell, Auditor-Controller
Date:December 16, 2014
Contra
Costa
County
Subject:Escheat unclaimed property held in Trust to the County General Fund
BACKGROUND: (CONT'D)
result of a reconciliation performed by the General Accounting Division in the early 1990’s after a new subsidiary
account structure was developed. The State Controller’s Office has audited prior year activity in the fund, and
determined that the State and Cities are not owed monies for fines and fees for prior years.
At the request of the County Auditor, County Counsel reviewed Government Codes 50050 et seq, and provided the
opinion that the Board of Supervisors may authorize the transfer of the unclaimed monies held in the Fines and Fee
Distribution Trust fund to the General Fund pursuant to Government Code 50050 et seq. The purpose of the proposed
action is to remove the old inactive balance from the Trust Fund subsidiary and Trust GL in a manner consistent with
statute.
CONSEQUENCE OF NEGATIVE ACTION:
Cash in the Fines and Fees Trust fund 813100 will continue to be overstated by $389,340.81.