2 County Funds Are Strong, Audit Shows

In a pair of reports, Ventura County Auditor-Controller Thomas O. Mahon has given the county’s employee retirement fund and a program that provides special services for jail inmates a clean bill of health.

Mahon reported Tuesday that his review of Ventura County Employees’ Retirement Assn. records showed assets of $830 million.

The association’s unfunded pension obligations were only $125 million if all current and retired employees were paid in full now, instead of over the course of their retirements.

The association is composed of 3,100 retirees and about 6,200 employees.

In addition, an audit of the county’s Inmate Welfare Fund indicates that it is being run according to the law and that efforts are being made to generate more revenue to improve the program.

Mahon reported that educational programs have been created for inmates, including vocational training, substance abuse counseling and a family skills program.

In addition, contracts were negotiated with phone companies to give the fund commissions from jail pay phone revenue, and about $400,000 has been made available to start vocational programs at the new Todd Road Jail.

Mahon noted that improvements could be made in inmate fund accounting by keeping proper inventory records and calculating accurately commissary profits.