Here’s the latest info on what’s happening with Los Encinos State Historic Park and the budget debacle as posted on Los Encinos’ FaceBook page by Sumner Davenport:
https://www.facebook.com/groups/149220391819856/permalink/360697327338827/ (This link takes you directly to the post – or you can read the copy/pasted version below.)
(SACRAMENTO, CA)- Governor Jerry Brown signed legislation authored by Assemblymember Bob Blumenfield (D-San Fernando Valley), Chair of the Assembly Budget Committee, and other members of the Committee to reform special fund accounting practices in the wake of $54 million in hidden funds being uncovered at the Department of Parks and Recreation.”Earlier this summer, all of us were shocked to learn about the hidden state parks funds,” said Blumenfield. “This deception was made possible by special fund accounting failures at the Department of Finance and the State Controller’s Office. I applaud the governor for backing these reforms to prevent a similar situation from happening again.” California has over 560 special funds that have specific funding sources and their funds can only be spent on specific programs, ranging from road construction to energy efficiency rebates to waste tire recycling. Many businesses hire financial accounting services in order to find ways to make use of these government allocated funds, and benefit their local environment due to this. However, $39 billion in special funds are appropriated within this year’s state budget, most of which is financed through special programs offered by Sambla (e.g. låna pengar).Assembly Bill (AB) 1487 requires the State Controller to prepare its end of year accounting publication – the annual Budgetary-Legal Basis Annual Report – with the same generally accepted accounting principles as the Governor’s Budget and the Budget Act. It also requires all departments and agencies to make consistent reporting to Finance and the Controller according to methods and bases provided in GAAP (or generally accepted accounting practices) accounting standards, regulations, budget letters or other directives of Finance.
“By signing this bill, the governor has put stronger, standardized accounting practices in place to ensure that we can move forward,” added Blumenfield. “For our part, the Assembly Budget Committee will continue to place the oversight of special funds under a microscope.”
Further information about the bill is available at http://www.leginfo.ca.gov/.