Score: +1
(1/1/0)
Santa Clara County Grand Jury
• 2023-2024
• Agency Response
Response to:
City of Campbell
City of Campbell Mayor's Office February 22, 2023 Honorable Beth McGowen
⚠️ Translation Notice: This content has been automatically translated. The original English text is the official version. Translation may contain errors.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 1 findings
F6
Page 2
The City of Campbell does not produce monthly treasurer's reports as required by California Government Code section 41004. Response: Partially Agree The City's Finance Director, acting as City Treasurer, along with Finance Department staff, prepares several recurring financial reports to both comply with various sections of the California Government Code (GC) and to ensure financial transparency. These are submitted to Council and include the following: • Bi-Monthly Bills and Claims Reports - To comply with GC Section 41004, displays all accounts payable and payroll disbursements. • Monthly Investment Transactions Report - To comply with GC Section 53607, displays account balances in City investment funds as well as deposits, withdrawals, and investment purchases. • Quarterly Investment Report - Displays account balances in all City investment funds as well as cash balances in the City's checking account, current market investment asset values, investment purchases and maturities, and actual receipts and disbursements (both in accounts payable and payroll). • Annual Comprehensive Financial Report (ACFR) - Displays income statements and balances sheets for every City fund. Nevertheless, City staff acknowledges that its recurring reports, many of which have remain unchanged for years, could be enhanced to more fully comply with GC Section 41004 as outlined in the Santa Clara County Civil Grand Jury report.
Related Recommendations (1)
R6
Page 2
The City of Campbell should comply with California Government Code section 41004 by producing monthly treasurer's reports that include monthly disbursements, receipts, and fund balances by March 15, 2023. Response: The recommendation will be implemented Financial transparency is highly valued by the City of Campbell in order to ensure accountability to the public for entrusting their funds with the City. As such, City staff will seek to model the compliant reports prepared by the Cities of Saratoga and Morgan Hill and submit to City Council a compliant Treasurer Report monthly, starting with the March 7, 2023 meeting. To allow for normal processing time to enter and close all financial transactions for a month, the first compliant Treasurer Report submitted to City Council shall be for the period of January 2023. All future Treasurer Reports will be submitted the first Council meeting of the month.
Agency Responses 2
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No Responses Found 1
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Santa Clara County Treasurer-Tax Collector
Elected County Office