The URL can be used to link to this page

Home My WebLink About08/17/2010, UPDATING PAYMENT DISBURSEMENT AND RECEEIPT AUTHORITYcounci lj acenda aepout Meeting Date 8—17—1 0 ]cem NamLer C I T Y O F S A N L U I S O B I S P O FROM : Mary Bradley, Director of Finance & Information Technolog y Jennifer Thompson, Revenue Superviso r SUBJECT : UPDATING PAYMENT DISBURSEMENT AND RECEIPT AUTHORIT Y RECOMMENDATIO N Adopt a resolution updating payment disbursement and receipt authority . DISCUSSIO N In 1996, Resolution 8477 was adopted by the City Council updating payment disbursement an d receipt authority. Resolution 8477 authorizes the Director of Finance and Informatio n Technology to act as the City Treasurer and to sign all checks, drafts, wire transfers and othe r orders for and on behalf of the City for deposit, payment or investment . This resolution als o designates the Revenue Manager, City Administrative Officer, Assistant City Administrativ e Officer, and other officials formally designated by the City Treasurer to serve in her or hi s absence on a case-by-case basis . The three specific positions designated to act on behalf of the City Treasurer in Resolution 847 7 no longer exist . The Revenue Manager position was eliminated as part of the 2003-05 budget- balancing strategy . The Revenue Manager's duties have since been absorbed by the Financ e Manager and the Revenue Supervisor . In November 2008 voters approved an amendment to th e Charter of the City of San Luis Obispo that replaced the term "City Administrative Officer" wit h "City Manager", which is more descriptive of this position's duties under the City Charter . It is necessary to update the resolution giving payment disbursement and receipt authority with new titles in order to maintain current relationships with the Local Agency Investment Fun d (LAIF), banks, investment companies and other financial institutions utilized by the City . These agencies designate authorized signers by position and require that the current resolution matc h the actual position title of the signers . The updated resolution designates the City Treasurer, City Manager, Assistant City Manager, Finance Manager and other officials formally designated b y the City Treasurer to serve in her or his absence on a case-by-case basis . The need for change arises now due to the retirement or change of all three of the specifi c positions named in the current resolution . Both the City Manager and City Treasurer hav e recently retired and the Assistant City Manager has moved to the Parks and Recreatio n Department . With these changes it is necessary to update authorized signers with financia l institutions the City works with . As mentioned above, most of the financial institutions utilize d by the City require that the current resolution match the actual position of the signers . Updating the resolution now will make changes to authorized signers, when staff changes, easier in th e future . Payment Disbursement and Receipt Authority Page 2 FISCAL IMPAC T There is no fiscal impact to the City . ALTERNATIVE S The City could choose not to update payment disbursement and receipt authority . This is no t recommended as it would make updating authorized signers with financial institution s impossible . ATTACHMENT S 1.Current Resolution . 2.Resolution approving updating payment disbursement and receipt authority. T :\Council Agenda Reports\Finance & IT CAR\Finance\2010\Payment Disbursement and Receipt Authority .doc Attachment~ RESOLUTION NO . 8477 (1996 SERIES ) A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISP O UPDATING PAYMENT DISBURSEMENT AND RECEIPT AUTHORIT Y WHEREAS, it is the policy of the City of San Luis Obispo for the Director of Financ e to concurrently hold the position of City Treasurer ; an d WHEREAS, Resolution No . 6148 designates specific positions to act on behalf of th e Director of Finance/City Treasurer that no longer exist . NOW, THEREFORE, be it resolved by the Council of the City of San Luis Obispo a s follows : SECTION 1 . The Director of Finance is hereby appointed to concurrently hold th e position of City Treasurer . SECTION 2 . The Director of Finance/City Treasurer is hereby authorized to sign al l checks, drafts, wire transfers and other orders for and on behalf of the City for deposit , payment or investment in accordance with Government Code Section 53601 . SECTION 3 . The Director of Finance/City Treasurer is hereby authorized to designat e the following positions with signature and representation authority to act in her or his . behal f on the matters set forth above in Section 2 of this Resolution : Revenue Manager, City Administrative Officer, Assistant City Administrative Officer, and other officials formall y designated by the Director of Finance/City Treasurer to serve in her or his absence on a case- by-case basis . SECTION 4 . Resolution No . 6148 (1987 Series) is hereby rescinded . On motion of Vice Mayor Williams ,seconded by Council Member Romer o and on the following roll call vote ; AYES :Vice Mayor Williams, Council Members Romero, Roalman,Smith, Mayor Settl e NOES :Non e ABSENT :Non e rty Cler the foregoing Resolution was passed and adopted this 4 day Mayor Allen Settl e b Assistant City Clerk Kim Condo n APPROVED : RESOLUTION NO . (2010 Series)Attachme ntz- A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISP O UPDATING PAYMENT DISBURSEMENT AND RECEIPT AUTHORIT Y WHEREAS,it is the policy of the City of San Luis Obispo for the Director of Financ e and Information Technology to concurrently hold the position of City Treasurer ; an d WHEREAS,Resolution 8477 designates specific positions to act on behalf of th e Director of Finance and Information Technology/City Treasurer that no longer exist or whos e titles have been formally changed , NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Lui s Obispo as follows : SECTION 1 . The Director of Finance and Information Technology is hereby appointe d to concurrently hold the position of City Treasurer . SECTION 2 . The Director of Finance and Information Technology/City Treasurer i s hereby authorized to sign all checks, drafts, wire transfers and other orders for and on behalf o f the City for deposit, payment or investment in accordance with Government Code Section 53601 . SECTION 3 . The Director of Finance and Information Technology/City Treasurer i s hereby authorized to designate the following positions with signature and representatio n authority to act in her or his behalf on the matters set forth above in Section 2 of this Resolution : Finance Manager, City Manager, Assistant City Manager, and other officials formally designate d by the Director of Finance and Information Technology/City Treasurer to serve in her or hi s absence on a case-by-case basis . SECTION 4 . Resolution No . 8477 (1996 Series) is hereby rescinded . Upon motion of , seconded by and on the following vote : AYES : NOES : ABSENT : The foregoing resolution was adopted this 17 day of August 2010 . Resolution No . (200x Series) Page 2 Mayor David F . Romero ATTEST : Elaina Cano City Clerk APPROVED AS TO FORM : hristine Dietric k City Attorney