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City of San Leandro <br />Meeting Date: July 6, 2020 <br />Staff Report <br />Agenda Section:File Number:20-302 CONSENT CALENDAR <br />Agenda Number:8.O. <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 />TITLE:Staff Report for City of San Leandro City Council Resolutions Updating <br />Designations of Persons Authorized to Make Financial Transactions and <br />Investments of Funds <br />RECOMMENDATION <br />Staff recommends three resolutions be approved by the City Council: <br />1. Designating signatures on City checks and authorizing officials to make fund transfers by <br />telephone or wire, <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 for the Redevelopment Agency of the City of San Leandro <br />officials to remit monies to the State Treasurer for deposit or 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 the recent <br />personnel change in the Finance Department, it is necessary to update the required signers and <br />grant authority for depositing funds into certain banks and depositories and make withdrawals for <br />City and Successor Agency LAIF accounts. <br />Staff recommends that Susan Hsieh be added to the Finance Department and Elizabeth <br />Warmerdam be made alternate to the City Manager. In addition to dual signatures required by <br />the City Manager and Finance Director on City checks, these individuals will be authorized to <br />initiate fund transfers by telephone or wire instructions for the conduct of City business with the <br />state. Signing authority was last updated on February 3, 2020. <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 />Page 1 City of San Leandro Printed on 7/1/2020 <br />444