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Home My WebLink About12 US Bank Authorize signers Agenda Item # 12 . ..:..:. . ..: Public Utility District CONSENT To: Board of Directors From: Mary Chapman Date: June 02, 2010 Subject: Consideration of a Resolution to Update Authorized Signers on District Bank Accounts with US Bank 1. WHY THIS MATTER IS BEFORE THE BOARD Only the Board can authorize individuals to act on behalf of the District. 2. HISTORY Title 3, Finance and Accounting authorizes the Treasurer to perform various financial duties. Issuing checks on District bank accounts are included in those duties. The current authorized signers on District bank accounts are the Treasurer, the General Manager and the Assistant General Manager. Members of the Board are also authorized signers on District's bank accounts. 3. NEW INFORMATION On July 16, 2008 the Board adopted Resolution 2008-21. This action created the position of Assistant Treasurer. Robert Mescher currently fills that position. The Assistant Treasurer serves at the pleasure of the Board and acts on behalf of the Treasurer in his/her absence. Mr. Mescher was not added to the District's bank account as an authorized signer at that time. In order to perform the duties of the Treasurer in his/her absence, this agenda item recommends that the position of Assistant Treasurer be added as an authorized signer in place of the position of Assistant Manager. Included are four attachments for the Boards reference: • Attachment 1 is a copy of Resolution No. 2008-21 Reaffirming the Office of the Treasurer, Defining the Treasurer's Duties and Creating the Office of Assistant Treasurer to act in the Absence of the Treasurer • Attachment 2 is a copy of Resolution No. 2008-22 Appointing Individuals to the Offices of Treasurer and Assistant Treasurer • Attachment 3 is a copy of Resolution No. 2001-26 authorizing banking services with US Bank and establishing authorized signers on District Bank accounts. We are not proposing to rescind this resolution • Attachment 4 is a draft resolution entitled Authorization to Update Authorized Signers on District Bank Accounts adding the position of Assistant Treasurer and removing the position of Assistant General Manager 4. FISCAL IMPACT There is no fiscal impact associated with this agenda item. 5. RECOMMENDATION Approve the resolution Authorization to Update Authorized Signers on District Bank Accounts. 10rb, Ma Chipman - - -- -- Mary pman ael D. Holley Administrative Services Manager General Manager Attachment 1 Resolution No. 2008 - 21 REAFFIRMING THE OFFICE OF TREASURER, DEFINING THE TREASURER'S DUTIES AND CREATING THE OFFICE OF ASSISTANT TREASURER TO ACT IN THE ABSENCE OF THE TREASURER WHEREAS, pursuant to Section 16112 of the California Public Utility District Act,the Board of Directors is authorized to appoint the Treasurer of the District, who shall hold office at the pleasure of the Board; and WHEREAS, pursuant to Section 16112 of the California Public Utility District Act,the Board of Directors is authorized to determine the duties that the Treasurer of the District shall perform; and WHEREAS, Resolution 9522 appointed the Administrative Services Manager to hold the office of District Treasurer and defined the Treasurer's duties; and WHEREAS, the Board of Directors desires to rescind Resolution 9522 and replace it with a revised resolution; and WHEREAS, the Board also desires to create the office of Assistant Treasurer who will also serve at the pleasure of the Board and who will act on behalf of the Treasurer in his/her absence; and WHEREAS, the Board of Directors has determined that the duties of the District Treasurer are set forth in various sections of Title 3 Finance and Accounting which are periodically updated by the Board, and WHEREAS, the Board of Directors has determined that the assigned duties shall include the duties to make payments and execute instruments for the payment of demands against the District, keep account of all receipts and disbursements, invest District funds, make investment withdrawals as needed to pay District obligations, arrange for and manage loans approved by the Board, and provide financial reports to the Board; and WHEREAS, the Treasurer will perform assigned duties according to District policies and procedures approved by the Board of Directors; and WHEREAS, the Treasurer shall perform such further duties as the Board may,from time to time impose; and 1 Resolution 2008-21 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Truckee Donner Public Utility District as follows: 1) The Board of Directors hereby rescinds Resolution 9522. 2) The Board of Directors hereby reaffirms appointment of the office of Treasurer. 3) The Treasurer shall perform the duties specified in Title 3 of the District Code, Finance and Accounting, and such further duties as the Board of Directors may, from time to time, impose. 4) That the Board creates the office of Assistant Treasurer to act on behalf of the Treasurer in his/her absence. PASSED AND ADOPTED by the Board of Directors of the Truckee Donner Public Utility District in a meeting duly called and held within said District on the 16t"day of July, 2008 by the following roll call vote: AYES: Directors Aguera, Hemig and Thomason ABSTAIN: None NOES: None ABSENT: Directors Sutton and Taylor TRUCKEE DONNER PUBLIC UTILITY DISTRICT Tim F. Tay resident ATTEST: Michael D. Holley, Clerk of the Board k 2 Resolution 2008-21 Attachment 2 Resolution No. 2008 - 22 APPOINTING INDIVIDUALS TO THE OFFICES OF TREASURER AND ASSISTANT TREASURER WHEREAS,the Board of Directors has reaffirmed appointment of the office of the Treasurer which serves at the pleasure of the Board, and WHEREAS, the Board wishes to appoint an individual to the office of Treasurer; and WHEREAS, Mary Chapman is an employee of the District who serves in the position of Administrative Services Manager; and WHEREAS,the Board has created the office of Assistant Treasurerwho will act on behalf of the Treasurer in her absence; and WHEREAS, the Board wishes to appoint an individual to the office of Assistant Treasurer; and WHEREAS, Robert Mescher is an employee of the District who serves in the position of Finance and Accounting Manager. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Truckee Donner Public Utility District as follows: 1. That the Board appoints Mary Chapman to fill the office of Treasurer to perform the duties of the Treasurer as assigned by the Board; and further 2. That the Board appoints Robert Mescher to fill the office of Assistant Treasurer to perform the duties of the Treasurer in her absence; and further 3. That these appointments shall remain in affect until such time as they are rescinded by the Board of Directors. PASSED AND ADOPTED by the Board of Directors of the Truckee Donner Public Utility District in a meeting duly called and held within said District on the 16th day of July,2008 by the following roll call vote: AYES: Directors Aguera, Hemig and Thomason ABSTAIN: None NOES: None ABSENT: Directors Sutton and Taylor TRUCKEE DONNER PUBLIC UTILITY DISTRICT By Tim F. Taylor, President ATTEST: I�f--TA� Michael D. Hol , Clerk of the Board Attachment 3 Public Resolution No. 2001=26 AUTHORIZATION TO ENTER INTO AN AGREEMENT WITH US BANK TO PROVIDE THE DISTRICT WITH BANKING SERVICES WHEREAS, the District finds the banking services offered by US Bank will meet the current and future needs of the District, and WHEREAS, the District has found the charges for banking services offered by US Bank to be favorable to the District; NOW,THEREFORE, BE IT RESOLVED that the Treasurer is authorized to open checking accounts at US Bank for the purpose of receiving funds and disbursing funds relating to district business,and BE IT FURTHER RESOLVED that the Treasurer will open up a General Fund checking account and a Payroll checking account, and BE IT FURTHER RESOLVED that the Treasurer is hereby authorized to sign on the account and that in the Treasurer's absence,the General Manager,the Assistant General Manager or any of the Board of Directors is authorized to sign on the account, and BE IT FURTHER RESOLVED that one electronic signature from the District's computerized accounting system by either the Treasurer,the General Manager or the Assistant General Manager is acceptable for US Bank to honor payment of a check, and BE IT FURTHER RESOLVED that in the absence of an electronic signature,two manual signatures by any of the authorized signors will be required on all checks, and BE IT FURTHER RESOLVED that the Treasurer is authorized to enter into other electronic banking services offered by the bank such as ACH transfers,wire transfers,book transfers,stop payments, account reconciliation and other such services in order to conduct the District's business. PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District on the 5th day of September, 2001 by the following roll call vote: AYES: Aguera, Hemig, Sutton, Van Gundy and Maass. NOES: None. ABSENT: None. TRUCKEE DONNER PUBLIC UTILITY DISTRICT By: G James V Maass, President, Board of Directors ATTEST- Peter L. Holzmeister, 6erk of the Board Attachment 4 t5 s. Public Utility District Resolution No. 2010 - XX AUTHORIZATION TO UPDATE AUTHORIZED SIGNERS ON DISTRICT BANK ACCOUNTS WHEREAS, on September 5, 2001 in Resolution No. 2001-26, the District entered into a banking services agreement with US Bank, and WHEREAS, the District does not intend at this time to make changes to the banking agreement relating to the banking services provided by US Bank, and WHEREAS, the District has found the need to update the list of employees who are authorized to sign on the District's accounts and conduct banking services on behalf of the District; NOW, THEREFORE, BE IT RESOLVED that pursuant to authorizations provided in Resolution 2001-26, the Treasurer is authorized to sign on the District accounts and that in the Treasurer's absence, the General Manager,the Assistant Treasurer or any of the Board of Directors are authorized to sign on the account. PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District on the 2nd day of June, 2010 by the following vote: AYES: NOES: ABSTAIN: ABSENT: TRUCKEE DONNER PUBLIC UTILITY DISTRICT Jeff Bender, President ATTEST: Michael D. Holley, P.E. Clerk of the Board