Fiscal Officers checks authorizationMEMORANDUM
October 28, 2003
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
Designation of Fiscal Officers - Checks and Drafts
Designation of Fiscal Officers - Electronic Investment Transactions
Authorization of Certain City of Dubuque Finance Department Employees
to Obtain Information and Make Transfers Between City of Dubuque Bank
Accounts Within a Banking Institution
Finance Director Ken TeKippe is recommending City Council approval of resolutions
authorizing the Finance Director, Assistant Finance Director and Budget Director to sign
checks and drafts and to execute electronic investment transactions with Treasury
Direct on behalf of the City of Dubuque.
It is further recommended that the City Council approve a resolution granting
authorization for select Finance Department employees to obtain information and
transfer money between City of Dubuque bank accounts.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mi(~hael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
SUBJECT:
Michael C. Van Milligen, City Manager
Kenneth J. TeKippe, Finance Director
Designation of Fiscal Officers - Checks and Drafts
Designation of Fiscal Officers - Electronic Investment Transactions
Authorization of Certain City of Dubuque Finance Department Employees
to Obtain Information and Make Transfers Between City of Dubuque Bank
Accounts within a Banking Institution
DATE:
October 30, 2003
INTRODUCTION
The purpose of this memorandum is to request City Council approval of the attached
resolutions authorizing the Finance Director, Assistant Finance Director and Budget
Director to sign checks and drafts and to execute electronic investment transactions
with Treasury Direct on behalf of the City of Dubuque.
In addition, another City Council Resolution is attached granting authorization for
selected Finance Department employees to obtain information and transfer money
between City of Dubuque bank accounts.
BACKGROUND
With Dawn Lang's recent hiring as Budget Director, updated resolutions are requested
to authorize individuals to sign checks and drafts and to execute electronic investment
transactions with Treasury Direct on behalf of the City of Dubuque. The resolutions
identify positions only without names, which should reduce future resolutions at the time
of personnel changes in the three positions designated. The previous resolutions had
identified the position of Administrative Services Manager as one of the authorized
individuals.
Other employees in the Finance Department need to obtain bank account information
and transfer funds to effectively perform their assigned duties. A resolution is being
updated since Mary Jo Gerardy has recently joined the Utility Billing staff as an Account
Clerk. Mary Jo serves as the primary backup to Finance Account Clerk, Cheryl L.
Steckel.
DISCUSSION
Attached are resolutions authorizing the Finance Director, Assistant Finance Director
and Budget Director as fiscal officers to sign checks and drafts and to execute
electronic investment transactions with Treasury Direct on behalf of the City of
Dubuque.
in the course of regular City business, selected employees in the Finance Department
need to obtain account information and transfer funds between City of Dubuque
accounts. As a standard control practice, these employees are not included as
authorized signers for City of Dubuque accounts, and therefore should have written
authorization to obtain account information and transfer funds within a banking
institution.
ACTION
Please present the resolutions to the City Council for consideration of approval. If there
are any questions on the resolution, please contact me. Thank you for your assistance.
KT/jg
Enclosure
RESOLUTION NO. 433-03
RESOLUTION AUTHORIZING CERTAIN DESIGNATED FISCAL OFFICERS
OF THE CITY OF DUBUQUE TO EXECUTE ELECTRONIC INVESTMENT
TRANSACTIONS WITH TREASURY DIRECT ON BEHALF OF THE CITY OF
DUBUQUE, IOWA
Whereas, the City of Dubuque has established a book-entry account with
Treasury Direct; and
Whereas, the City of Dubuque invests short-term funds in the U.S. Treasury
securities through Treasury Direct; and
Whereas, the City of Dubuque can improve cash management through
electronic processing provided by Treasury Direct; and
Whereas, the City Council has determined that the fiscal officers who may
execute electronic investment transactions with Treasury Direct on behalf of the City of
Dubuque are Finance Director, Assistant Finance Director and Budget Director.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
The Finance Director, Assistant Finance Director and Budget Director are
hereby authorized to execute electronic investment transactions with Treasury Direct on
behalf of the City of Dubuque.
Passed, approved and adopted this 3rd day of November, 2003.
Terrance M. Duggan, Mayor
Attest:
Jeanne F. Schneider, City Clerk
RESOLUTION NO. 434-03
RESOLUTION AUTHORIZING CERTAIN DESIGNATED FISCAL OFFICERS
OF THE CITY OF DUBUQUE TO EXECUTE CHECKS ON BEHALF OF THE
CITY OF DUBUQUE, IOWA
Whereas, the City of Dubuque deposits certain funds in local commercial
banking institutions; and
Whereas, these commercial banking institutions require authorization by the
City Council for certain fiscal officers to sign such checks and drafts; and
Whereas, the City Council has determined that the fiscal officers who may sign
checks and drafts on behalf of the City of Dubuque are Finance Director, Assistant
Finance Director and Budget Director.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. The Finance Director, Assistant Finance Director and Budget
Director are hereby authorized to sign checks and drafts on behalf of the City of
Dubuque.
Section 2. That the foregoing fiscal officers are also hereby authorized to sign
the authorization cards from the commercial banking institutions.
Passed, approved and adopted this 3rd day of November, 2003.
Terrance M. Duggan, Mayor
Attest:
Jeanne Schneider, City Clerk
RESOLUTION NO. 435-03
RESOLUTION AUTHORIZING CERTAIN CITY OF DUBUQUE FINANCE
DEPARTMENT EMPLOYEES TO OBTAIN BANK ACCOUNT INFORMATION AND
MAKE TRANSFERS BETWEEN CITY OF DUBUQUE BANK ACCOUNTS WITHIN A
BANKING INSTITUTION
Whereas, the City of Dubuque maintains accounts with local banking institutions;
and
Whereas, the banking institutions require authorization by the City Council for
City employees other than those designated on account signature cards to obtain bank
account information and transfer funds between City accounts at that institution; and
Whereas, the City Council has determined that the City employees who may
obtain bank account information and transfer funds between accounts within a banking
institution are the Finance Department Account Clerks, Cheryl L. Steckel, and Mary Jo
Gerardy.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. The Finance Department's Account Clerks, Cheryl L. Steckel, and
Mary Jo Gerardy, are hereby authorized to obtain bank account information on all City
of Dubuque accounts and to transfer funds between the City's accounts within a
banking institution. Transfers shall be authorized via telephone or written request.
Passed, approved and adopted this 3rd day of November ,2003.
Terrance M. Duggan, Mayor
Attest:
Jeanne F. Schneider, City Clerk