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Indicated tax levy is way too high in the General Fund as it is, so
<br />I've left out those two reserves* .
<br />As for a list of current investments, that changes every week;
<br />sometimes more often than that. So unless I know as of what date you
<br />wanted the list, I can't be sure that I'm being very helpful. However
<br />a list as of June 30,1977 is attached. That's the date of the last
<br />.,published financial report. Anyway, I have an investment register
<br />which is available for inspection (in the office only) so you can come
<br />up and look at that.
<br />To answer your next question, go to the first page of the print-
<br />-.out and look at the column in the middle of the page, under 1976-1977
<br />°marked."Estimated Receipts". Go all the way down the tolumn to the
<br />"Cash Forward" line and find $1;380,960. That was the projected cash
<br />forward figure for the General Fund for the beginning of this fiscal
<br />• year. Now flip over to the last page of General Fund expenditures
<br />(page 46) and find a similar figure under Actual Budget 1976-77 of
<br />- --- $572,530. .Now those two figures mean that budgeted expenditures for
<br />- this year have exceeded budgeted receipts by $808,430 ($1,380,960-
<br />$572,530). Now go back to the first page and find the $1,380,960
<br />again, then look at the figure just to the right and you will see that
<br />-actual cash balances at September 30, 1976 were $350,000 less than
<br />anticipated. This further aggrevates the problem. Actual receipts are
<br />running at 5200,00 less than. expected. while actual expenditures are
<br />running about $300,'000 less than budgeted. This accounts for the drop
<br />in General Fund balance of not 1 1/2 million but just about a million
<br />-dollars.The increase in cash balances in the Fine and Forfeiture
<br />Fund is due almost entirely to the -fact that actual cash balances at
<br />-the beginning of this year are $255,262 ($903,986- $648,724) above the
<br />amount expected. Revenues and expenditures are running about the same
<br />as budgeted. Note the increase in cash forward is only $14,159
<br />($918,145- $903,986). -
<br />.�-As for the interest income question, the Clerk of the Circuit Court,
<br />Is authorized to keep the Board's books in such a way as to comply with
<br />.-the applicable laws and regulations, with or without the expressed
<br />-consent of the Board. The Clerk already has the Board's implied consent.
<br />:.Now look at Section 136.04., Florida -Statues, and see if it doesn't say,
<br />'"Interest earned -shall be credit to the fund on which it was earned.".
<br />Vow I did neglect to tell the Board about this change, but not
<br />-because of any disrespect or intended discourtesy toward them. My
<br />job is to subtract from the Board's problems - not add to them. If I
<br />had gone to the Board and told them that I wanted to improve the way
<br />-.they account for interest income, I could just hear Alma Lee saying,
<br />;'_'Well.how come our accounting needs improving, Bill?" And when I told_
<br />her that the record doesn't comply with the law, they would just come
<br />down with the worst case of .the grumblies you ever saw. In fact,
<br />11r: Wodtke, might have even been motivated to beat the stuffin's right
<br />- ,out of you because he pays you about $18,000 to be his financial
<br />coordinator and you're suppose to know things like what it says in
<br />Chapter 136, Florida Statues. So as an act of kindness, I simply.made
<br />.-the adjustments to bring the Board's records into compliance,as I
<br />- knew they would want me to do.
<br />Finally, your comment that Section 125.01 (x), Florida Statues,
<br />...authorizes the Board to hire an independent accounting firm to furnish.
<br />MAR 2 2 1978 r�
<br />BQCiK. , 34 PAGE
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