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City of San Leandro <br />Meeting Date: May 7, 2012 <br />Staff Report <br />File Number: 12 -198 Agenda Section: CONSENT CALENDAR <br />Agenda Number: 8.J. <br />TO: City Council <br />FROM: Chris Zapata <br />City Manager <br />BY: David Baum <br />Finance Director <br />FINANCE REVIEW: David Baum <br />Finance Director <br />TITLE: Staff Report for Resolutions Updating the Designation of Persons Authorized <br />to Make Financial Transactions and Investments of Funds <br />N* is]JiIJiI;10IIL ,II[a]0K <br />It is recommended the following four resolutions be approved to: <br />1) Designate certain depositories and authorize City officials to remit money in the City <br />treasury to the State Treasury for deposit in the Local Agency Investment Fund (LAIF); <br />2) Designate signatures on City checks and authorize persons to make fund transfers by <br />telephone or wire; <br />3) Authorize Successor Agency of the Redevelopment Agency of the City of San Leandro <br />officials to remit monies into the State Treasury for deposit and withdrawal in the Local <br />Agency Investment Fund (LAIF); and <br />4) Authorize Economic Development Agency (EDA) officials to remit EDA monies into the <br />State Treasury for deposit and withdrawal in the Local Agency Investment Fund (LAIF) <br />BACKGROUND <br />With the appointment of Finance Director, David Baum, it is necessary to update the authority <br />for depositing funds into certain depositories and to conduct deposit or withdrawal <br />transactions with the City's and Agencies' LAIF accounts. <br />David Baum will be added, and Jim O'Leary will be removed, as authority for deposit and <br />withdrawal transaction activity with the City's LAIF accounts for the Economic Development <br />Agency and the Successor Agency of the Redevelopment Agency of the City of San Leandro. <br />The San Leandro City Charter provides that all City checks be authenticated by the signatures <br />of one designated person in the City Manager's Office (Chris Zapata) and one designated <br />person in the Finance Department (David Baum). Lianne Marshall from the City Manager's <br />Office and Carlota Rodriguez from the Finance Department will serve as backup alternates. <br />These individuals will be authorized to initiate fund transfers by telephone or wire instruction <br />for the conduct of City business and with the State of California. <br />City of San Leandro Page 1 Printed on 51112012 <br />