HomeMy WebLinkAbout8.F.3. Updating list of individuals authorized to make bank transactions, Resolution No. 7548 General Business 8. F. 3.
SHr\KO1'EE
TO: Mayor and City Council
FROM: Kris Wilson, Acting City Administrator
DATE: 02/03/2015
SUBJECT: Updating List of Individuals Authorized to Make Bank Transactions --
Resolution No. 7548 (F)
Action Sought
The Council is asked to offer Resolution No. 7548, a resolution designating
individuals authorized to perform certain banking transactions, and move its
adoption.
Background
The City's bank requires formal action of the City Council to change the list of
people authorized to sign City checks and authorize certain bank transactions.
Currently the Mayor and Finance Director sign all checks. With Finance Director
JulieLinnihan's employment ending February 27, 2015, there is a need to designate
a different authorized signer.
Recommendation
It is recommended that the Acting City Administrator be named as the second
authorized signer on physical checks, due to the fact that I am in the office five days
a week. Secondly, it is recommended that the Interim Finance Director be
authorized to approve electronic transactions as these can be done from anywhere.
Budget Impact
This action has no budgetary impact.
Relationship to Vision
This is a housekeeping item.
Requested Action
The Council is asked to offer Resolution No. 7548, a resolution designating
individuals authorized to perform certain banking transactions, and move its
adoption.
Attachments: Resolution No. 7548
RESOLUTION NO.7548
A Resolution Designating Individuals Authorized to Perform Certain Banking Transactions
WHEREAS,Voyager Bank is designated as a depository of City funds; and
WHEREAS,the City must designate individuals authorized to sign checks,transfer funds and approve
transactions on behalf of the City;
NOW THEREFORE BE IT RESOLVED that checks, drafts or other withdrawal orders issued against the
funds of the City on deposit with said bank shall be signed by both the Mayor and the Acting City
Administrator.
BE IT FURTHER RESOLVED that the Acting City Administrator, Interim Finance Director,Accounting
Manager, Payroll & Benefits Specialist and HR Specialist are authorized to make transfers into and out of
the City accounts for various purposes including investments, payroll withholdings and debt service
payments and other banking transactions as deemed appropriate.
IT IS FURTHER RESOLVED that effective February 16, 2015 this Resolution supersedes all prior and
conflicting resolutions, including Resolution No. 7105.
Adopted in regular session of the City Council of the City of Shakopee, Minnesota,this 3rd day of
February, 2015.
Mayor of the City of Shakopee
ATTEST:
Deputy City Clerk