8E Consent 2007 1105 - Laserfiche WebLink

Home

CITY COUNCIL/REDEVELOPMENT AGENCY/ECONOMIC DEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO STAFF REPORT DATE: November 1, 2007 TO: John Jermanis, City Manager Executive Director, Redevelopment Agency Executive Director, Economic Development Agency FROM: Carlota Rodriguez, Deputy Finance Directo Finance Department SUBJECT PROJECT/PROJECT DESCRIPTION: APPROVED AND FORWARDED TO CITY C OUNCIL/REDE VEL OPMENT AGENCYBCONOMIC DEVELOPMENT AGENCY '~ John. . Jermanis City anager MATTER OF RESOLUTIONS UPDATING THE DESIGNATION OF PERSONS AUTHORIZED TO MAKE FINANCIAL TRANSACTIONS AND INVESTMENT OF FUNDS SUMMARY AND RECOMMENDATION It is recommended the following four resolutions be approved: 1) Designate certain depositories and authorize City officials to remit money in the City treasury to the State Treasury for deposit in the Local Agency Investment Fund (CALF); 2) Designate signatures on City checks and authorize persons to make fund transfers by telephone or wire; 3) Authorize Redevelopment Agency (RDA) officials to remit RDA monies into the State Treasury for deposit and withdrawal in the Local Agency Investment Fund (LAIF); and 4) Authorize Economic Development Agency (EDA) officials to remit EDA monies into the State Treasury for deposit and withdrawal in the Local Agency Investment Fund (LAIF). BACKGROUND With the hiring of Budget and Compliance Manager Mary Ann Perini, it is necessary to update the authority for depositing funds into certain depositories and to conduct deposit or withdrawal transactions with the City and Agency's LAIF accounts. The San Leandro City Charter provides that all City checks be authenticated by the signatures of one designated person in the City Manager's Office (John J. Jermanis) and one designated person in the Finance Department (Carlota Rodriguez). Steve Hollister from the City Manager's Office and Mary Ann Perini from the Finance Department will serve as backup alternates. These individuals will be authorized to initiate fund transfers by telephone or wire instruction for the conduct of City business and with the State of California.