Wednesday, July 30, 2014

$82k: County loans to fire dist.

From page A1 | August 30, 2013 |

At Tuesday’s El Dorado County Board of Supervisor’s meeting, Auditor-Controller Joe Harn informed the board that the El Dorado County Fire Protection District needed a loan of $82,380.

“It’s unusual that this early in the year for a special district to need a loan,” he said at the meeting.

In a letter Harn sent to the board of the county fire district and also provided to the Board of Supervisors, he noted that, “Your district’s cash position in the General Fund probably will decrease significantly until the Dec. 10 property tax revenues have been posted.”

The memo went on to say that “The Government Code authorizes the county to make cash advances to special districts. Resolution Number 436-74, adopted in 1974, authorizes the County Auditor to make cash advances of up to 85 percent of the special district’s anticipated revenues, if the special district ‘banks’ in the County Treasury.”

Contacted for a comment, County Fire Chief Mike Hardy said that the deficit was no surprise and he remains “optimistic about what we’re doing.”

“We start our fiscal year in July but don’t get our property tax money until December,” he said, noting that the district doesn’t have the reserves to get them through the five dry months between July and December.

“But we are doing fine,” said Hardy, who added that he expects the district to come in under budget this year just as they did last.

EDCFPD’s budget for this year is $9.16 million with property taxes making up 79 percent of all revenues. Hardy said he expects property tax revenues to be unchanged from last year.

Contact Dawn Hodson at 530-344-5071 or Follow @DHodsonMtDemo on Twitter.





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