Herms William Interview 9 24 12 - California Resources Agency

1 find it fascinating.
2 This is the disconnect. This is the
3 disparity. The second to last number is the
4 adjusted balance reported to the Controller.
5 This is the balance reported to the Controller
6 minus reserves for encumbrances, some deferred
7 payroll, and you get to an adjusted Controller
8 balance, and then this is what we're told was
9 in the fund condition statement --
10 MR. HERMS: Um-hum.
11 MR. PATTON: -- to Finance.
12 So there's -- at the most recent
13 year ending June 30, 2011, there was a twenty
14 million dollar disparity. It's been about --
15 it's been in the twenty million dollar range
16 for about six years. It was larger for a
17 period of time in the first part of the 2000s,
18 and it seems to have got its birth in the
19 latter part of the '90s, around '98 when it
20 started growing, had a growth period. This is
21 its adolescence. Here's its birth,
22 adolescence, and then adulthood for six years.
23 MR. HERMS: And I'm assuming you
24 know how it was born because I still have no
25 idea (indiscernible - simultaneous speaking).
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