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City of San Leandro <br />Meeting Date: July 20, 2015 <br />Staff Report <br />Agenda Section:File Number:15-433 CONSENT CALENDAR <br />Agenda Number:8.K. <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 />RECOMMENDATIONS <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 Assistant Finance Director, Will Fuentes, it is necessary to update <br />the authority for depositing funds into certain depositories and to conduct deposit or <br />withdrawal transactions with the City’s and Agencies’ LAIF accounts. <br />Will Fuentes will be added, and Carlota Rodriguez will be removed, as authority for deposit <br />and withdrawal transaction activity with the City’s LAIF accounts for the Economic <br />Development Agency and the Successor Agency of the Redevelopment Agency of the City of <br />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 Will Fuentes from the Finance Department will serve as backup alternates. These <br />individuals will be authorized to initiate fund transfers by telephone or wire instruction for the <br />conduct of City business and with the State of California. <br />Page 1 City of San Leandro Printed on 7/14/2015