Action 20.
Regular Board of Supervisors Meeting
County Schools
- Meeting Date:
- 06/24/2014
- Title:
- Fund 283 Balance Payoff
- Submitted By:
- Kimberly Madden, County Schools
- Department:
- County Schools
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature NOT Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
0
NAME
of PRESENTER:
of PRESENTER:
Martha Mauldin
TITLE
of PRESENTER:
of PRESENTER:
Accountant
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Docket Number (If applicable):
Information
Agenda Item Text:
Approve payoff of negative balance in Grant Fund Line 283 from the Arizona Department of Education (ADE) of $1,864 from General Fund do to a calculation error.
Background:
There has been a negative fund balance of $1,864 carried over in this Federal Grant for the past three years. In the past, Arizona Department of Education (ADE) disbursed a portion of grant funds at the beginning of each fiscal year and it was our responsibility to apply for reimbursement as the funds were used and return the unused funds at the end of the fiscal year. Since that grant year has been closed, ADE will no longer honor our requests to reimburse that amount and we are not able to claim it as an expense to zero out that negative balance. At the recent meeting held with the Budget Team, it was recommended that we ask the Board to pay this balance out of the General Fund to avoid an audit finding. Not only has ADE made changes but our office staff has also revised procedures to prevent repeating this type of error. Thank you for your consideration in this matter.
Department's Next Steps (if approved):
N/A
Impact of NOT Approving/Alternatives:
Carrying negative balance on account will result in an audit finding.
To BOS Staff: Document Disposition/Follow-Up:
Please inform County Schools Office of outcome.
Fiscal Impact
- Fiscal Year:
- 13-14
- One-time Fixed Costs? ($$$):
- 1864
- Ongoing Costs? ($$$):
- 0
- County Match Required? ($$$):
- 0
- A-87 Overhead Amt? (Co. Cost Allocation $$$):
- 0
- Source of Funding?:
- General Fund
Fiscal Impact & Funding Sources (if known):
Fund 283 has a negative balance of $1864 which has been carried for over 3 years. We are requesting this balance to be paid off through the General Fund.