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LOS ANGELES COUNTY CHILDREN AND FAMILIES FIRST – PROPOSITION 10 COMMISSION (a Component Unit ... - page 33 / 47

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LOS ANGELES COUNTY CHILDREN AND FAMILIES FIRST – PROPOSITION 10 COMMISSION NOTE TO SUPPLEMENTAL INFORMATION FOR THE YEAR ENDED JUNE 30, 2009

NOTE 1 – BUDGET ADOPTION

Annually the Board of Commissioners adopts a budget. The Board of Commissioners has given the Executive Director authority to make budget adjustments between line items in the Commission’s Annual Operating Budget in an amount not to exceed $25,000. Any budget adjustment between line items in excess of $25,000 requires approval of the Operations Committee of the Board of Commissioners.

An annual budget is adopted on a basis that is consistent with generally accepted accounting principles.

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