HomeMy WebLinkAbout780039.tiff RESOLUTION
RE: APPROVAL OF BLANKET AUTHORITY TO UTILIZE AN INTER-FUND TRANSFER PROCESS
BETWEEN THE TREASURER AND ACCOUNTING OFFICE IN WELD COUNTY.
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, a recommended inter-fund transfer process has been submitted to
the Board of County Commissioners of Weld County, Colorado for approval , a
copy of said recommended procedures being attached hereto and incorporated
herein by reference at this point, and
WHEREAS, said procedures provide a method to administratively conduct the
accounting transactions between County funds in a more efficient way in the
opinion of the Treasurer and Director of Finance, and
WHEREAS, inter-fund transfer must be authorized by resolution, and
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
deems it advisable and in the best interests of Weld County to approve the
abovementioned inter-fund transfer procedures.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado that the inter-fund transfer procedures be, and hereby
is, approved.
BE IT FURTHER RESOLVED by the Board that the Treasurer and Director of
Finance be, and hereby is , authorized on a continual basis to make inter-
fund transfers as specified in the abovementioned inter-fund transfer procedures.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 20t}day of December, A.D. , 1978.
'- 1.1 - BOARD OF COUNTY COMMISSIONERS
ATTEST: IZuuru2 ,n✓ COUNTY, COLORA
Weld County Clerk and Recorder Pro
Jerk to the �� , Yrh puty County Clerk �9
APP I'D AS TO FORML
County Attorney
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DATE PRESENTED: DECEMBER 20, 1978
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780039
WELD COUNTY
ADVICE OF INTER-FUND CASH TRANSFER
To: Mike Loustalet, Treasurer
From: Don Warden, Director of Finance
Inter-Fund transfers of cash, as stated below, are necessary to account for
TRANSFER IN TRANSFER OUT
FUND NO. DR Cash DR Due To
CR Due From CR Cash
Transfer Date: _ Inter-Fund Transfer No. :
Date Posted: JV Ref. No. :
Posted By: ��,-V-- --�- -- Warrant Register Date: ____ ------V----__
Warrant No. thru
Prepared By:
Mike Loustalet Donald D. Warden
Treasurer of Weld County Director of Finance & Administration
USE OF INTER-FUND TRANSFERS
Inter-fund transfers will be utilized between the Accounting Office and Treasurer's
Office as a mechanism to transfer funds from one fund in the County Treasury to
another fund. The inter-fund transfer will be advise from the Accounting Office
to the Treasurer indicating the fund, fund number, transaction, and transaction
amount.
The Inter-Fund Transfer will be used in the following situations.
1 . When warrants are issued from the accounting system, they will all be charged
against the General Fund since the system accumulates all transactions for
one vendor onto one warrant on the weekly run. To properly account for the
transactions an inter-fund transfer will be made to reflect the proper funding
distribution of the warrants. The inter-fund transfer will accompany the
warrant register to the Treasurer's Office.
2. When there are County inter-fund transactions involving cash, instead of
issuing warrants an inter-fund transfer will be used to reflect the transac-
tions on the Treasurer's books. A corresponding Journal Voucher will be made
for the General Ledger in the Accounting Office.
The "Advise of Inter-Fund Cash Transfers" will be completed as follows :
The purpose of the transfer of cash will be indicated at the top of the form.
The fund name, number and amounts transferred in and out will be indicated.
The totals transferred in and out MUST BE EQUAL.
The date of the transfer must be indicated and it must be the EXACT calendar
date and not a bookkeeping transaction date, i .e. 12/31/78.
The inter-fund transfer number will be the next sequenced number indicated in
the Accounting Office's master file of Inter-Fund Transfers. The Treasurer
should insure that the numbers are in sequence as received to avoid the loss
of any Inter-Fund Transfers or duplicate postings. The number will be the
fiscal year dash sequence number beginning at number one each fiscal year,
e.g. 79-52.
When a corresponding journal voucher is the substantiating documentation of
the transactions , reference the journal voucher number.
When a warrant register is the substantiating documentation , indicate the war-
rant register date and warrant numbers included.
To authorize and accept the IFT transaction, both the Treasurer and Director
of Finance or their designates in their absence must sign the IFT.
On the "Prepared By" line, the person in the Accounting Office making up the
IFT should put their name for audit questions or questions from the Treasurer's
Office.
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Treasury personnel should indicate date posted and who made the posting to
the Treasurer's books as processed. This information is for the Treasurer
and auditor and need not be completed for Accounting' s copy.
The Inter-Fund Transfer will be three part NCR paper with the following distri-
bution.
A) Third copy pulled by Accounting when completed and placed in pending file
until signed original returned by Treasurer.
B) Second copy returned by Treasurer to Accounting once signed and accepted.
Accounting files copy in master IFT file.
C) Original copy maintained by Treasurer in master file as authority for transfer
of funds. To avoid duplicate posting, the date and name of person doing the
posting should be indicated on the original at the time of the posting.
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