CA SB1291

Authorizes the Clovis Veterans Memorial District in Fresno County to withdraw its funds from county treasurer control and establish independent financial management.

Requires the memorial district board to adopt a resolution establishing procedures for appointing a district treasurer, setting bonding requirements, and implementing an accounting system that adheres to generally accepted accounting principles.

Sets a maximum 15-month timeline for the memorial district and county board of supervisors to mutually agree on a withdrawal date for funds from the county treasury.

Requires the memorial district treasurer to make annual or more frequent written reports to the board regarding receipts, disbursements, and account balances.

Mandates compliance with state Government Code provisions on local agency investments and allows the district treasurer to deposit funds in county or State Treasury if desired.