HomeMy WebLinkAbout2007-03-22 - Resolution No. 07-05RESOLUTION NO. 07-05
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
YORBA LINDA WATER DISTRICT
AMENDING THE POLICY OF INDIVIDUALS AUTHORIZED TO SIGN
DISTRICT CHECKS AND TO AMEND THE POLICY AND PROCEDURES FOR
THE USE OF AN AUTOMATED CHECK SIGNING MACHINE.
WHEREAS, The Yorba Linda Water District (District) uses bank checking
accounts for the collection and distribution of funds; and,
WHEREAS, to establish or distribute funds from District checking accounts
requires two signatures; and
WHEREAS, financial institutions require that those persons authorized to
establish an account and/or sign District checks must be
designated by Resolution of the Board of Directors; and
WHEREAS, Resolution No. 04-08 identifies the Board of Directors as one of
the holders of the keys to operate the check signing machine; and
WHEREAS, the Board of Directors hereby desires to have the General
Manager and Finance Director be more accountable for all
accounts payable and payroll checks,
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba
Linda Water District as follows:
Sectionl. Persons authorized to establish accounts and sign District checks:
a. That the District establishes in its name one or more accounts with
Wells Fargo Bank for "Accounts Payable" and "Payroll" upon such
terms and conditions as may be agreed upon with said bank. The
General Manager, Assistant General Manager and Finance Director
collectively are hereby authorized to establish such an account or
accounts.
b. That the General Manager and Finance Director are the only
signatures authorized to appear on the signature facsimile plate used
to sign for "Accounts Payable" and "Payroll" checks.
c. That in case of an emergency and/or in the best financial interest of
the District, the Assistant General Manager and Finance Director are
authorized to sign manual checks if approved by the General
Manager. If the Assistant General Manager and/or Finance Director
is not available, the General Manager is authorized to be the second
signer. All manual checks shall be submitted to the Board of
Directors for ratification at the next Board of Directors meeting.
Section 2. Board members responsibility to review invoices and payable checks.
a. A Board member assigned to the Finance-Accounting Committee
shall review the list of accounts payable and invoices prior to
consideration by the Board of Directors. If the Board member has a
question about an invoice, check or an amount, he/she shall meet
with the General Manager prior to the billboard being approved. If a
problem is found and is not easily corrected, the invoice and check
will be withdrawn from the billboard until the issue has been
corrected to the satisfaction of the Board member and General
Manager. The invoice and check will be added to the next available
billboard.
Section 3. Procedures for the use of the automated check-signing machine are
as follows:
a. Two keys are necessary to operate the machine: one key is to lock
the signature plate either in or out of the machine and the other to
turn the machine on and off. The "Accounts Payable" signature plate
and its key and "Payroll" signature plate and its key shall be secured
in separate locked boxes within the District vault. The distribution of
keys is as follows:
Accounts Payable
& Payroll Power Access Key
General Manager Accounts Payable - Accounting Assistant I
Finance Director Payroll - Accounting Assistant II
b. The Finance Director is responsible for insuring that all "Accounts
Payable" and Payroll checks are made payable to the correct party,
in the correct amount and the approved procedures are followed.
c. Whenever a facsimile plate is replaced, the Finance Director shall cut
the plate into two pieces in the presence of the Secretary/General
Manager. One piece shall be taken and disposed of off District
premises by the Finance Director and the second piece shall be
taken and disposed of off District premises by the General Manager.
Section 4. That Resolution No. 04-08 is hereby rescinded effective immediately
upon passage of this Resolution.
PASSED AND ADOPTED this 22nd day of March 2007 by the following called
vote:
AYES: Armstrong, Beverage, Collett, Mills, Summerfield
NOES:
ABSENT:
ABSTAIN:
Ric Collett
President
ATTEST:
Michael A. Payne, Secreta
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