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California close to completing review of special funds

Posted: August 1, 2012 4:00 p.m.
Updated: August 1, 2012 4:00 p.m.


SACRAMENTO, Calif. (AP) — State finance officials say they will soon complete a much-anticipated review of hundreds of special funds that was started after the state Department of Parks and Recreation underreported $53.8 million in two of its own funds.

Gov. Jerry Brown's administration is reconciling the amounts in all the state's 560 special funds, which receive money directly from users, to make sure the fund balances match what has been reported to the finance department and the state controller. Finance spokesman H.D. Palmer said Wednesday that the review is expected to be completed Friday.

He says different bookkeeping procedures and different time periods being reviewed account for some of the discrepancies.

Meanwhile, the attorney general's office is investigating state parks to determine whether department officials deliberately underreported the money in two special funds.

Copyright 2012 The Associated Press.



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