COMPLETED BOARD ORDER�"�|62
Before the Board of Supervisors in and for the
County of Monterey, State of California
Budget No: 10/11 011
Approve a request from the Greenfield Fire Protection
District for dry period loan of $300,000 for the Fiscal
Year ended June 30, 2011.
Upon motion of Supervisor Potter, seconded by Supervisor Armenta, and carried by those
members present, the Board hereby:
Approved a request from the Greenfield Fire Protection District for dry period loan of $300,000
for the Fiscal Year ended June 30, 2011.
PASSED AND ADOPTED this 27th day of July, 2010, by the following vote, to wit:
AYES: Supervisors Armenta, Calcagno, Salinas, Parker, Potter
NOES: None
ABSENT: None
I, Gail T. Borkowski, Clerk of the Board of Supervisors of the County of Monterey, State of California, hereby
certify that the foregoing is a true copy of an original order of said Board of Supervisors duly made and entered in
the minutes thereof of Minute Book 75 for the meeting on July 27, 2010.
Dated: July 29, 2010 Gail T. Borkowski, Clerk of the Board of Supervisors
County of Monterey, State of California
By
Deputy
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SIGNED BOARD REPORTX��"�~MONTEREY COUNTY BOARD OF SUPERVISORS
r U
MEETING: July 27, 2010 CONSENT AGENDA NO.:
SUBJECT: Approve a request from the Greenfield Fire Protection District for dry period loan
of $300,000.00 for the Fiscal Year ended June 30, 2011
DEPARTMENT:
RECOMMENDATION:
It is recommended that the Board of Supervisors approve the attached dry period loan request
from the Greenfield Fire Protection District in the amount of $300,000.00 for the Fiscal Year
ended June 30, 2011.
SUMMARY:
Dry Period Loan requests are submitted by qualified special districts to meet current operating
expenses and cash flow needs during the periods of time between property tax payment receipts.
DISCUSSION:
The Greenfield Fire Protection District has requested a temporary transfer of funds pursuant to
the California Constitution, Article 16, Section 6. The attached request will enable the
Greenfield Fire Protection District to meet current operating expenses pending receipt of
property tax payments. The funds advanced may only be used to meet maintenance and
operational expenses. No part of this loan may be invested. The amount advanced will be repaid
with interest at a rate equivalent to the average rate of return currently earned on deposits in the
County Treasury.
FINANCING:
The County Treasurer has certified that sufficient funds are available in the County Treasury to
finance the requested advance. The Auditor-Controller has certified that anticipated revenue in
Fiscal Year 2010-11 will be sufficient to repay the temporary loan. There is no impact to the
County's General Fund.
Prepared by:
Jill Baucom
Auditor-Controller Analyst
Date: 2 l 3 0
Attachments: Special District Resolution
Request and Certification for Temporary Transfer of Funds
Board Order
cc: Lou Solton, Treasurer-Tax Collector
Rosie Pando, Assistant CAO
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ATTACHMENTS (1)X��"��Greenfield Fire Protection District
Post Office Box 3110 Greenfield, California 93927
RESOLUTION NO. 2010-08
RESOLUTION REQUESTING DRY PERIOD LOAN
THE GREENFIELD FIRE PROTECTION DISTRICT BOARD OF DIRECTORS
hereby adopts Resolution 2010-08 to request a dry period loan.
The Board of Directors is requesting the approval of the County Board of Supervisors for
the temporary transfer of funds in the amount of $300,000.00. The request is for the
period of August 1, 2010 to January 15, 2011.
The foregoing Resolution was adopted on July 2010.
Belle Maldonado
Clerk of the Board
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ATTACHMENTS (1)X��"��REQUEST AND CERTIFICATION FOR TEMPORARY TRANSFER OF FUNDS
As allowed by California Constitution, Article 16, Section 6)
To the Board of Supervisors
County of Monterey
Salinas, Ca.
The governing board of the Greenfield Fire Protection District hereby requests a temporary
transfer of funds to the general fund of the aforementioned agency in the amount of $300,000
to be used for maintenance and operation purposes. No part of this loan will be invested, if
granted. It is understood and agreed that this loan will bear interest at a rate equivalent to the
average rate currently earned on deposits in the County Treasurer.
FISCAL YEAR ENDED JUNE 30, 2011
1. Budgeted Maintenance Operations Expenditures:
a. Salaries and Benefits S238,865
b. Services and Supplies $347,035
Total Budgeted Expenditures $585,900
CERTIFICATION BY COUNTY AUDITOR-CONTROLLER
Anticipated Revenue
a. Taxes
b. Money and Property
c. Aid from other Agencies
d. Charges & current services
e. Other Revenue
f. Total Anticipated Revenue
g. Less Revenue Received to Date
h. Total Revenue not received
03
1 yl~>
Z11, Coin
s- 702
2-1 C2 C)
Amount available for Transfer 85% of line h)
MICHAEL LLER Au or-Controller
By:
53y~Co5~
CERTIFICATION OF COUNTY TREASURER
Sufficient funds are available in the County Treasury to effect this transfer.
LOUIS G. SOLTON, Treasurer
By:
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