The treasury of the principal county is the repository of all the funds of a district. For this purpose, the treasurers of any other counties wherein is situated a portion of the district, shall, at any time, not more often than twice a year, upon the order of the board, settle with the board and pay over to the treasurer of the principal county all moneys in their possession belonging to the district. The treasurer of the principal county shall receive and receipt for such moneys, and place such moneys to the credit of the district. He shall be responsible upon his official bond for the safekeeping and disbursement, in the manner provided in this division, of these and all moneys of the district held by him.
Financial ProvisionsFunds and Warrants
Section § 74750
This law states that the main county treasury is responsible for holding all the funds of a district. Treasurers from other counties that are part of the district need to settle accounts and transfer the district's funds to the main county's treasury at least every six months if requested by the district board. The treasurer of the main county will manage and give receipts for these funds, and is held accountable for their safekeeping and proper use according to the laws outlined.
district funds management county treasury funds transfer
Section § 74751
A claim can't be paid by the treasurer unless it's approved by the board first.
No claim shall be paid by the treasurer until allowed by the board.
treasurer payment approval board authorization claim approval process
Section § 74752
This law specifies that the district's treasurer can only release money based on warrants issued by the county auditor. These warrants must be authorized by the board through an order signed by the president and verified by the secretary.
The treasurer shall pay out the moneys of the district only upon warrants of the county auditor, drawn upon order of the board signed by the president and attested by the secretary.
district treasury warrants county auditor
Section § 74753
If a bond or interest coupon from a district reaches its due date and is presented for payment, the treasurer must pay it using the bond fund. However, if there isn't enough money available to pay, the bond or coupon will start to earn interest at a rate of 7% per year until the funds are ready. It will then be marked and handled like a warrant awaiting payment funds.
Upon presentation of any matured bond, or any matured interest coupon on any bond of the district, the treasurer shall pay it from the bond fund. If funds are not available for the payment of any such matured bond or interest coupon, it shall draw interest at the rate of 7 percent per annum from the date of its presentation for payment until notice is given that funds are available for its payment, and it shall be stamped and provision made for its payment, as in the case of a warrant for the payment of which funds are not available on its presentation.
matured bond interest coupon treasurer payment
Section § 74754
The treasurer needs to provide a written report during every regular board meeting, and whenever the board asks, detailing the current amount of money available, money received since the last report, and money spent. These reports should be verified and filed with the secretary.
The treasurer shall report in writing at each regular meeting of the board, and as often thereafter as requested by the board, the amount of money on hand, the amount of receipts since his last report, and the amounts paid out. Such reports shall be verified and filed with the secretary.
treasurer report board meeting money on hand
Section § 74755
This law section allows a district board to choose to handle its funds directly instead of having the county treasurer do it. To do this, the board must pass a resolution and inform the county treasurer. Once informed, the county treasurer will transfer the district's funds to the board. These funds must be deposited in approved banks and withdrawn through a process requiring an order signed by the board's president and secretary. The board must appoint a treasurer responsible for managing these deposits and withdrawals and require a surety bond from this treasurer annually.
Additionally, the district must follow specific government financial provisions regarding these transactions and provide an annual audit of their disbursements to the board of supervisors for approval.
As an alternative to the functions of the county treasurer and the county auditor provided in this chapter, the board may elect to disburse funds of the district. Such election shall be made by resolution of the board and the filing of a certified copy thereof with the county treasurer. The county treasurer shall thereupon deliver to the district all funds of the district. Such funds shall be deposited by the board in a bank or banks approved for deposit of public funds and shall be withdrawn only by written order of the board, signed by the president and secretary. The order shall specify the name of the payee, the fund from which it is to be paid and state generally the purpose for which payment is to be made. Such order shall be entered in the minutes of the board. The board shall appoint a treasurer who shall be responsible for the deposit and withdrawal of funds of the district. The treasurer shall deposit with the district, prior to October 1 of each year, a surety bond in an amount annually fixed by the board. The deposit and withdrawal of funds of the district shall thereafter be subject to the provisions of Article 2 (commencing with Section 53630), Chapter 4, Part 1, Division 2, Title 5, of the Government Code. Any district electing to disburse funds pursuant to this section shall file with the board of supervisors an annual audit of such disbursements which meets the approval of the board of supervisors.
district board county treasurer fund disbursement
Section § 74756
This law states that a decision made under Section 74755 can be reversed by the board with a formal resolution. Once this decision is reversed, the appointed treasurer must give all district funds and a certified copy of the reversal resolution to the county treasurer within 30 days. After this, both the county treasurer and county auditor take over financial responsibilities as outlined in the chapter.
The election made pursuant to Section 74755 may be rescinded by resolution of the board. No later than 30 days following any such rescission, the treasurer appointed pursuant to Section 74755 shall deliver all district funds to the county treasurer together with a certified copy of the resolution of rescission, whereupon the county treasurer and county auditor shall commence to act as provided in this chapter.
board resolution reversal of decision district funds transfer
