Finding F2
Findings
It is not clear how SJLAFCo is funding its reserves or how the reserve fund is being managed. SJLAFCo’s financial and accounting procedures do not include a policy for the management of its Contingency Reserve Fund. The public is unaware of the scope and purpose of the fund, how the fund is used and replenished, and what the appropriate fund balance ought to be.
Jury report: San Joaquin LAFCo: Coordinating and Planning Growth · PDF page 52
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