Countywide : Extra $11 Million Not Really a Surplus
A year-end accounting adjustment shows that Ventura County has $11 million more in revenues than expected, but most of the money is already earmarked for programs and services, officials said.
Today, the Board of Supervisors will consider a request by the auditor-controller’s office to officially recognize the $11 million, but Assistant Auditor-Controller Tom Mahon said the action is routine and will not provide more money for the county’s coffers.
“This does not mean all of the sudden we are $11 million richer,” he said. “This just shows that we underestimated at the beginning of last fiscal year the amount of revenue we would have coming in from various sources.”
The money will be added to the county’s fund balance as officials complete the proposed 1990-91 fiscal year budget. The chief administrator’s office is proposing a balanced $653-million budget.
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