Title
Approve an increase in appropriations for FY 2011-12 totaling $185,000 in the Office of the Auditor Controller, AUD001 and estimated revenue by the same amount to offset Agreed-Upon Procedures costs and administrative costs related to ABX1 26 - Redevelopment Dissolution. (4/5th Vote Required)
Body
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Approve and increase in appropriations for FY 2011-12 totaling $185,000 in the Office of the Auditor Controller, AUD001 and estimated revenue by the same amount to offset Agreed-Upon Procedures costs and administrative costs related to ABX1 26 - Redevelopment Dissolution. (4/5th Vote Required)
SUMMARY/DISCUSSION:
The recommended increase in appropriations totaling $185,000 includes funding for Agreed-Upon Procedures costs and administrative costs related to ABX1 26 (Redevelopment Dissolution). ABX1 26 (Section 34182 of the Health and Safety Code) mandates that the “county auditor-controller shall conduct or cause to be conducted an agreed-upon procedures audit of each redevelopment agency in the county”. The Agreed-Upon Procedures are due on July 1, 2012.
Further, ABX1 26 requires the county auditor-controllers to perform certain administration tasks related to the dissolution, to provide ongoing management of the Redevelopment Property Tax Trust Fund, and to allocate and distribute revenue in the Redevelopment Property Tax Trust Fund to Successor Agencies.
OTHER AGENCY INVOLVEMENT:
The Office of the Auditor-Controller continually meets with city staff and County staff regarding the implications and mandates of ABX1 26. The accounting firms of Hayashi & Wayland, and Gallina, LLP are currently contracted to conduct the Agreed-Upon Procedures reviews, which are due July 1, 2012.
FINANCING:
Section 34182 of the Health and Safety Code allows the Office of the Auditor-Controller to charge the Redevelopment Property Tax Trust Fund any costs incurred by the County Auditor-Controller. ABX...
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