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City of San Leandro <br />Meeting Date: February 3, 2020 <br />Staff Report <br />Agenda Section:File Number:20-015 CONSENT CALENDAR <br />Agenda Number:8.D. <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:Eric Engelbart <br />Deputy City Manager <br />FINANCE REVIEW:Liz Warmerdam <br />Interim 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 three resolutions be approved by the City Council: <br />1. Designating signatures on City checks and authorize persons to make fund transfers by <br />telephone or wire; <br />2. Designating 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); and <br />3. Authorizing 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 LAIF. <br />BACKGROUND <br />The San Leandro City Charter provides that all City checks be authenticated by signatures of the <br />City Manager and the Finance Director or their respective assistants. In light of recent personnel <br />changes in the Finance Department it is necessary to update the required signers and grant <br />authority for depositing funds into certain banks and depositories and make withdrawals for City <br />and Successor Agency LAIF accounts. <br />Elizabeth Warmerdam is added for the Finance Department and Eric Engelbart and James <br />O’Leary are added as alternates. Names of individuals no longer employed by the City are <br />removed. In addition to the dual signature required by the City Manager and Finance on City <br />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 />March 4, 2019. <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 />Page 1 City of San Leandro Printed on 1/28/2020 <br />27