Report 95020 Summary - November 1995
Department of Motor Vehicles:
Collegiate License Plate Revenues Have Been Overallocated
The California Vehicle Code, Section 5024, requires that we audit all revenues deposited in and expenditures from the California Collegiate License Plate Fund (fund). The Department of Motor Vehicles (DMV) reported revenues, totaling approximately $53,700, for the fund for the period October 21, 1993, through June 30, 1995. As the only participant in the collegiate license plate program (program), the University of California, Los Angeles Alumni Association (association) received approximately $52,800 from the fund to be used for need-based scholarships. However, the DMV incorrectly recorded an estimated $15,500 as revenue in the fund that should have been allocated to the Resources License Plate Fund, the California Environmental License Plate Fund, and to the DMV for administrative charges.