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Accept the Quarterly Review of the Statement of Assets of the Solano County Treasury as of March 31, 2015
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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 March 31, 2015.
SUMMARY/DISCUSSION:
Pursuant to Government Code ?26920, the County Auditor performs a quarterly review of the Treasurer's Statement of Assets in the County Treasury. The Auditor's review is conducted in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The review included:
* Counting cash on hand in the County Treasury.
* Verifying the records of the Treasurer and Auditor-Controller were reconciled pursuant to Government Code ?26905.
* Issuing a report to the Board of Supervisors in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
In conjunction with the required quarterly cash count, the ACO determined the accuracy, validity, and compliance of the investments in the Solano County Treasury with Government Code ?53601 (i.e., category of investment) and ?53635 (i.e., investment concentration limits).
A review in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants consists primarily of inquiries of staff and analytical procedures applied to financial data. It is substantially less in scope than an examination in accordance with generally accepted audit standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, the ACO does not express such an opinion. All inform...
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