COUNTY OF SAN MATEO

Inter-Departmental Correspondence

Office of the District Attorney/Public Administrator

DATE:

December 21, 2006

BOARD MEETING DATE:

February 13, 2007

SPECIAL NOTICE/HEARING:

None

VOTE REQUIRED:

Majority

TO:

Honorable Board of Supervisors

FROM:

James P. Fox, District Attorney/Public Administrator

SUBJECT:

Transfer of $30,000 to the Public Administrator’s Imprest Account

RECOMMENDATION:

Adopt a Resolution authorizing the transfer of $30,000 from the County General Fund to be held in an imprest account in the Public Administrator trust account, for an aggregate of $50,000 to be held in such account, and authorizing the Public Administrator and his duly designated representatives to utilize this fund for making loans to decedent estates to protect assets that may be at risk.

VISION ALIGNMENT:

Commitment: Responsive, effective, and collaborative government

Goal 20: Government decisions are based on careful consideration of future impact, rather than temporary relief or immediate gain. The transfer of additional monies to the Public Administrator’s imprest account will enable the Public Administrator’s office to more effectively administer decedents’ estates because the Public Administrator will be able to better preserve estate assets that are risk.

BACKGROUND:

Since 1974, the Public Administrator has maintained an imprest account for the purpose of providing immediate funds to cash-short estates whose assets may be in jeopardy (i.e., mortgage foreclosures, homeowner’s insurance premiums, etc.). All disbursements from this account are fully reimbursed by the estates. Presently, the Public Administrator’s imprest account has $20,000. The amount of this revolving fund has not been increased since 1996.

DISCUSSION:

As noted above, the monies in the Public Administrator’s imprest account are utilized to provide immediate funds to protect estate assets that may be in jeopardy. For example, monies from the revolving fund are utilized to make mortgage payments or to pay insurance premiums during the pendency of the sale of an estate’s real property. Such monies are repaid from estates following the sale of the assets being protected.

Since 1996, due to inflation and other factors, the need has arisen to increase the amount of funds in the imprest account insofar as estates’ mortgage payments, insurance premiums, and the like have increased. As such, the current amount of $20,000 is no longer sufficient. As noted above, all of the disbursements from this account are fully reimbursed by the estates.

An increase of $30,000, for a total of $50,000 in the imprest account, would be consistent with economies of scale and would give the Public Administrator’s office the flexibility that it needs to properly exercise its duties as the administrator of decedents’ estates.

FISCAL IMPACT:

The transfer of an additional $30,000 from the General Fund to an imprest account in the Public Administrator’s Trust Account, for a total of $50,000 in said imprest account, will result in an outstanding accounts receivable item which will remain on the County books in perpetuity. This Board action will have no fiscal impact on net county cost.