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Accept the Quarterly Review of the Statement of Assets of the Solano County Treasury as of June 30, 2024
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The Auditor-Controller’s Office (ACO) recommends the Board of Supervisors accept the Quarterly Review of the Statement of Assets of the Solano County Treasury as of June 30, 2024.
SUMMARY:
Pursuant to Government Code §26920, the County Auditor must at least quarterly, either perform or cause to be performed a review of the Treasurer’s Statement of Assets in the County Treasury including (1) counting the cash in the Treasury, (2) verifying the records of the Treasurer and the Auditor-Controller were reconciled pursuant to Government Code §26905, and (3) issuing a report to the Board of Supervisors.
The ACO contracted with Eide Bailly, L.L.P., CPA to issue an independent opinion of whether the Statement is fairly presented in accordance with accounting principles generally accepted in the United States of America. The results of the audit will be provided to the Board of Supervisors at a later date.
The ACO conducted the steps necessary for the quarterly review and did not identify any instance of non-compliance.
FINANCIAL IMPACT:
The acceptance of the report has no financial impact.
ALTERNATIVES:
The Board of Supervisors could elect not to accept the report on the quarterly review of the Statement of Assets of the Solano County Treasury as of June 30, 2024.
This alternative is not consistent with sound public policy and is therefore not recommended.
OTHER AGENCY INVOLVEMENT:
The County Treasurer has reviewed and accepted the report.
CAO RECOMMENDATION:
APPROVE DEPARTMENTAL RECOMMENDATION