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City of San Leandro <br />City Council <br />Meeting Date: March 17, 2025 <br />Agenda Number: 5.a. <br />Agenda Section: CONSENT CALENDAR <br />File Number: 25-061 <br />File Type: Staff Report <br />Adopt Three (3) Resolutions Updating Designations of Persons Authorized to Make Financial <br />Transactions and Investments of Funds <br />SUMMARY <br />The City Council has authority to update authorized signers on the City’s bank and investment <br />accounts. With recent staffing changes, updates to the authorized signers are proposed. <br />RECOMMENDATIONS <br />1.Designating signers on City checks and authorizing City officials to make fund transfers. <br />2.Designating certain depositories and authorizing City officials to remit money in the City <br />treasury to the State Treasurer for deposit in the Local Agency Investment Fund (LAIF). <br />3.Authorizing Successor Agency to the Redevelopment Agency of the City of San Leandro <br />officials to remit monies to the State Treasurer for deposit or withdrawal <br />BACKGROUND <br />The San Leandro City Charter provides that all City checks must be authenticated by signatures <br />of the City Manager and the Finance Director or their respective assistants. Considering recent <br />personnel changes, it is necessary to update the required signers and grant authority for <br />depositing funds into certain banks and depositories and make deposits and withdrawals for City <br />and Successor Agency LAIF accounts. <br />Staff recommend that Nicole Gonzales be added as authorized signer for the Finance <br />Department. In addition to dual signatures required by the City Manager and Finance Director on <br />City checks, these individuals will be authorized to initiate fund transfers by telephone or wire <br />instructions for the conduct of City business with the State. Signing authority was last updated on <br />October 21, 2024. <br />The recommended changes established by City Council resolution will insure deposits and <br />withdrawals can be made in a timely manner, supporting the City Council’s goal to place San <br />Leandro on a firm foundation for long-term fiscal sustainability. <br />Current Agency Policies <br />·San Leandro City Charter, Section 550: Signatures on Checks states, “City checks shall <br />bear the facsimile signatures of the City Manager and the Finance Director or their <br />Page 1 City of San Leandro Printed on 9/4/2025