Department: Treasurer
Department Head/Elected Official: Dylan Osborne
Regular or Supplemental RCA: Regular RCA
Type of Request: Financial Authorization
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request for approval to move funds presently held in the General Fund for bail bond companies and attorneys to the Master Bail Bond Escrow Account for further transfer to individual bank accounts held in trust for the specific bail bond companies and attorneys at the Harris County Depository Institution, Cadence Bank.
end
Background and Discussion:
Presently the funds are held in the General Fund, the only way cash depositors can verify their total amount of funds on deposit is to contact the Treasurer’s Office to receive a letter from the Treasurer stating the amount on deposit. All funds presently held on deposit in the General Fund are not held separately and not available for Harris County use. Moving the funds to an individual depository account allows for greater transparency for both the depositor as well as Harris County. Additionally all tax documentation will be completed by Cadence Bank yearly for all interest earned on the funds deposited. It will also negate the need for the Auditor’s Office to split out a monthly interest rate for these deposits.
Expected Impact:
Increase transparency and reduce overhead administration
Alternative Options:
Continue operating in the present manner
Alignment with Goal(s):
_ Justice and Safety N/A
_ Economic Opportunity N/A
_ Housing N/A
_ Public Health N/A
_ Transportation N/A
_ Flooding N/A
_ Environment N/A
_ Governance and Customer Service -provides greater transparency for depositors
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
25-Jun-2019 |
21.b.2 |
|
Location:
Address (if applicable): N/A
Precinct(s): Choose an item.
|
Fiscal and Personnel Summary |
|
Service Name |
|
|
|
SFY 22 |
FY 23 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$ |
$ |
$ |
|
Total Incremental Expenditures |
$ |
$ |
$ |
|
Funding Sources (do NOT write values in thousands or millions) |
|
Existing Budget |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
|
Additional Budget Requested |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$ |
$ |
$ |
|
Total Funding Sources |
$ |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Court Date:
Anticipated Implementation Date (if different from Court date):
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: David P. Chang, First Assistant Treasurer, Treasurer’s Office
Attachments (if applicable):