APPROVAL OF PLAN OF FINANCIAL ADJUSTMENT - 8452.2-SEP-2017
Listed below are the types of Plan of Financial Adjustment (PFA) and the approval process:
General PFA
Government Code (GC) section 11251 authorizes the use of a general PFA.
Federal PFA
The following statutes authorize the use of a PFA for these specific funds:
- GC section 16365 – Federal Trust Fund
- Education Code section 12060 – Vocational Education Federal Fund
- Health and Safety Code section 100390 – Public Health Federal Fund
Combination (General and Federal) PFA Authorizing statutes are provided above.
Approval Process
Departments will submit their original proposed PFA to the Finance budget analyst for review and approval. Finance will review the PFA to validate that the appropriation items are consistent with authorized legislation for expenditures (i.e., the Budget Act, special appropriations, and/or department’s legislative authority). If approved, Finance will forward the signed original PFA to SCO for final approval and distribution.
For all approved PFAs, the SCO will return an approved copy of the PFA to the submitting department and the Finance budget analyst.