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City of San Leandro <br />Meeting Date: March 4, 2019 <br />Staff Report <br />Agenda Section:File Number:19-111 CONSENT CALENDAR <br />Agenda Number:8.F. <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for City of San Leandro City Council Resolutions Updating the <br />Designation of Persons Authorized to Make Financial Transactions and <br />Investments of Funds <br />RECOMMENDATIONS <br />Staff recommends that the following three resolutions be approved by the City Council: <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 for the Redevelopment Agency of the City of San Leandro <br />officials to remit monies to the State Treasury for deposit and withdrawal in the Local <br />Agency Investment Fund (LAIF). <br />BACKGROUND <br />With the resignation of Chris Zapata as City Manager, the appointment of City Manager Jeff Kay <br />and Assistant City Manager Elizabeth Warmerdam, and the promotion of Norite Vong from <br />Deputy Finance Director to Assistant Finance Director, it is necessary to update the authority for <br />depositing funds into certain depositories and to conduct deposit or withdrawal transactions with <br />the City’s and Agency’s LAIF accounts. <br />Elizabeth Warmerdam will be added, and Chris Zapata will be removed as authority for deposit <br />and withdrawal transaction activity for the City’s LAIF accounts for the Economic Development <br />Agency and the Successor Agency for 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 of <br />one designated person in the City Manager’s Office (Jeff Kay) and one designated person in the <br />Finance Department (David Baum). Elizabeth Warmerdam from the City Manager’s Office and <br />Norite Vong from the Finance Department will serve as backup alternates. These individuals will <br />Page 1 City of San Leandro Printed on 2/26/2019