HomeMy WebLinkAbout20021639 RESOLUTION
RE: AUTHORIZE WELD COUNTY TREASURER TO ESTABLISH SOCIAL SERVICES
TRUST FUND
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, it has been determined that there is a need to set up a new fund through
the Weld County Treasurer's Office for the administration of the Social Services Trust Fund.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Social Services Trust Fund be, and hereby is, introduced into
the Weld County Accounting system, and that the Weld County Treasurer be, and hereby is
authorized to establish said Fund accordingly.
BE IT FURTHER RESOLVED by the Board that all interest accruing to monies in this
fund shall be deposited in this fund.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of June, A.D., 2002.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: MO4 E La`\ EXCUSED DATE OF SIGNING (AYE)
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Gle ad, Chair
Weld County Clerk to th: o1r`1861 ° 1/42 di. 5'% Davi L g Pro-Ter
BY: u� .11,�j% N"tI
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Deputy Clerk to the Bo'?. n ` if_cr
1 M. J. Geile
AP ED AS T •
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Date of signature: U
OC AC 5
S 20AC0005
ESTHER Gesick Social Services Trust Fund Page 1
From: CLAUD Hanes
To: ESTHER Gesick
Date: 6/14/02 8:49AM
Subject: Social Services Trust Fund
Per audit comments from the State Auditors office, we need to establish an interest bearing trust fund for
Social Services. Please put this item on the June 24th agenda for approval. The following is the
justification that I received from John Kruse of Social Services this morning.
Every month Social Services receives checks from Social Security for children that are in our custody.
These checks are then deposited at the Treasury in the Social Services cash account that does not draw
interest for Social Services specifically. At the end of the month, we calculate the cost of care for these
children that are in our custody and if the cost of care is not more then what Social Security sent, we then
keep the remaining amount in a trust account for the children that is set up on our ledger. We have a
spreadsheet that details what money belongs to who. Currently we have $95,926 that belongs to about
40 children.
After our last state audit, it was the auditor's recommendation to have this trust account segregated from
the rest of Social Services cash and be drawing interest. I could not agree more and was looking to do
so even before we were audited. I would like to have a fund set up with the Treasurer, so that this
money can be drawing interest that rightfully belongs to these children in our custody. The interest that
is earned will be allocated out to the individuals based off each individuals amount for that month the
interest was earned.
If the Board of Commissioners would authorize this fund, it would be greatly appreciated and would be
one less audit issue.
CC: John Kruse
a 0 CO S-
2002-1639 .-
2002-1639
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