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City of San Leandro <br />Meeting Date: March 1, 2021 <br />Staff Report <br />Agenda Section:File Number:21-092 CONSENT CALENDAR <br />Agenda Number:8.F. <br />TO:City Council <br />FROM:Fran Robustelli <br />Interim City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <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 signers on City checks and authorizing City 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 />and <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. 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 withdrawals for City and <br />Successor Agency LAIF accounts. <br />Staff recommends that Karen Chang be added for the Finance Department and Frances M. <br />Robustelli be added as (Interim) City Manager. In addition to dual signatures required by the City <br />Manager and Finance Director on City checks, these individuals will be authorized to initiate fund <br />transfers by telephone or wire instructions for the conduct of City business with the state. Signing <br />authority was last updated on July 6, 2020. <br />The recommended changes established by City Council resolution will insure deposits and <br />Page 1 City of San Leandro Printed on 2/24/2021