Broward County Commission Regular Meeting

MOTION TO ACKNOWLEDGE AND FILE Office of the County Auditor’s Review of the Broward County Employee Benefits Internal Service Fund - Report No. 18-21.

ACTION:  (T-10:43 AM)  Approved.  

VOTE:  8-0. Commissioner Sharief was not present.

We have conducted a review of the Broward County Employee Benefits Internal Service Fund and underlying functions performed by the Accounting Division and Office of Management and Budget. Our objective was to determine whether the fund balance and related allocation of costs were reasonable and appropriate.
 
We conclude that the fund balance of $22.6 million for the Broward County Employee Benefits Internal Service Fund as of September 30, 2017 is excessive by at least $6.6 million. 
 
We appreciate the cooperation and assistance provided by the Accounting Division and Office of Management and Budget during the course of our review.