Tax revenue collected from these two funds gave Imperial Beach $2,243,354 to use for City street maintenance last year. The Financial Statements FYE show $927,115 expenditures allocated to the 431 Account, but the monies can not be traced.
The Account Payable General Fund shows only $284,646.64 in expenditures for 07/01/10 – 06/30/11 and only $210,719.09 so far this year.
FYE 06/30/11 the expenditures are in 13 categories – two of which do not tie to the budget. The major expense is SDG&E with $118,400 last year & $93,010.49 so far this accounting cycle. $52,434.45 FYE 06/30/11 and $24,184.85 so far this year for 'street signs'. The Actual road work done was listed as "Asphalt Patch" or "Concrete".
The Financial Statements claim there was $1,505,895 used last year, but only $284,656.64 can be traced. Where is the rest of the money?
That's still a mystery.
The budget allocates $355,769 employee costs for five (5) employees, but I have yet to receive copies of the Payroll Account or the two (2) other bank accounts that the Finance Director stated to me exists, but he could not recall their use.
And then there are the ABC Accounts. What are the ABC Accounts? I don't know - IB does a lot of 'creative accounting'. It seems to be a way they are hiding expenses from other departments by allocating the expense as fixed costs. The ABC Accounts add up to $245,646 on the budget, but the monies can not be traced.
SANDAG is responsible for the Prop A ballot measure and has the Independent Taxpayer Oversight Committee (ITOC) that is suppose to: “...develop recommendations for improvements to the financial integrity and performance of the TransNet program.” The Vice Chair for the SANDAG Board of Directors is our Mayor Jim Janney with Councilmen Lorie Bragg and Jim King also listed on the Board.
A/P GEN FUND 07/01/10 - 06/30/11
101-5010-431.11-04 - $186.44 life insurance
101-5010-431.20-06 - $5,851.95 professional services
101-5010-431.21-04 - $46,066.84 technical services
101-5010-431.21-23 - $52,434.45 traffic control
101-5010-431.25-02 - $606.88 rent equipment
101-5010-431.27-01 - $118,400.00 sdg&e
101-5010-431.27-02 - $12,549.81 Utilities-water
101-5010-431.27-04 - $350.00 - NOT ON BUDGET
101-5010-431.28-01 - $1,897.81 Maintenance & repair
101-5010-431.29-04 - $1,960.00 other services & charges
101-5010-431.30-02 - $41,918.27 operating supplies
101-5010-431.30-22 - $486.29 small tools/non-capital
101-5010-431.50-04 - $1,947.90 - NOT ON BUDGET
total expenditures $284,656.64