COBI 2015 - Human Services Client Trust Fund

Overview
Issues
Performance
Background
Financials

Sources Uses

FY 2016 Appropriation

The Human Services Client Trust Fund is used to account for assets held in a fiduciary relationship for elderly, disabled, and child clients served by the Department of Human Services.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $3,957,300 from all sources for Human Services Client Trust Fund. This is a 0 percent change from Fiscal Year 2015 revised estimated amounts from all sources.

Staff Analysis

There are currently no state government fund-specific reports showing aggregate data for fund management.

Statute

UCA 62A-1-111 authorizes the establishment and management of client trust accounts for institution and community programs if requested by the client or legal representative. The State Money Management Act requires a semi-annual report providing certain detailed information for individual accounts. Limitations on these accounts are prescribed by the Code of Federal Regulations.

The balance of the fund consists mostly of investments. A small amount of revenue also comes from interest earned on the account. The largest amounts of money flowing into the account are deposited assets of elderly, disabled, and child clients. Expenses are for items on behalf of these same clients.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Programs	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Human Services Client Trust Fund	0	0	0	3,957,300	0	3,957,300	3,957,300	0	3,957,300
Total	$0	$0	$0	$3,957,300	$0	$3,957,300	$3,957,300	$0	$3,957,300

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Interest Income	0	0	0	5,500	0	5,500	5,500	0	5,500
Trust and Agency Funds	0	0	0	4,327,200	0	4,327,200	4,327,200	0	4,327,200
Beginning Nonlapsing	0	0	0	0	0	0	0	1,622,900	1,622,900
Closing Nonlapsing	0	0	0	(1,247,500)	0	(1,622,900)	(1,622,900)	(375,400)	(1,998,300)
Beginning Fund Balance	0	0	0	872,100	0	1,247,500	1,247,500	(1,247,500)	0
Total	$0	$0	$0	$3,957,300	$0	$3,957,300	$3,957,300	$0	$3,957,300

Show Table | Show Additional Information

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Trust and Agency Disbursements	0	0	0	3,957,300	0	3,957,300	3,957,300	0	3,957,300
Total	$0	$0	$0	$3,957,300	$0	$3,957,300	$3,957,300	$0	$3,957,300

COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.