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HomeMy WebLinkAbout2003-12-11 - Resolution No. 03-18RESOLUTION NO. 03-18 RESOLUTION OF THE BOARD OF DIRECTORS OF THE YORBA LINDA WATER DISTRICT AUTHORIZING INDIVIDUALS TO SIGN DISTRICT CHECKS, ADOPTING A POLICY FOR THE USE OF AN AUTOMATED CHECK SIGNING MACHINE, AND RESCIND RESOLUTION NO. 01-01 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 requires that those persons authorized to establish an account and/or sign District checks must be designated by Resolution of the Board of Directors; and NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba Linda Water District as follows: Section 1. Persons authorized to establish accounts, and sign and cosign District checks are as follows: a. That the District may establish in its name one or more accounts with the Wells Fargo Bank for "Accounts Payables" and "Payroll" upon such terms and conditions as may be agreed upon with said banks, and that the President of the Board of Directors and Secretary of the District are hereby authorized to establish such an account, or accounts. b. That any one of the following five members of the Board of Directors is authorized to be the first signers on "Accounts Payables" checks:, Paul R. Armstrong, Michael J. Beverage, Arthur C. Korn, William R. Mills or John W. Summerfield. And that Beverly Meza, Auditor is hereby authorized as the cosigner. These are the only signatures authorized to appear on the signature facsimile plate used to sign accounts payable checks on District accounts. That Michael A. Payne, Secretary/General Manager and Beverly Meza, Auditor are the only signatures authorized to appear on the signature facsimile plate used to sign "Payroll" checks. Section 2. 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 Pavable" "Pavroll" Electrical Power Board of Directors General Manager Accounting Assistant II Business Manager b. Both keyholders must be present while the machine is in use. The Directors are responsible that the proper "Accounts Payable" checks, in the correct amounts, are being signed and that the proper procedures are followed. For "Payroll" checks either, Beverly Meza, or Michael A. Payne are responsible that the proper "Payroll" checks, in the correct amounts, are being signed and that the proper procedures are followed. C. The Auditor shall cut old facsimile plates into two pieces in the presence of the Secretary/General Manager. One piece shall be taken and disposed off District premises by the Auditor and the second piece shall be taken and disposed of off District premises by the Secretary/General Manager. Section 4. That Resolution No. 01-01 is hereby rescinded effective immediately upon passage of this Resolution. PASSED AND ADOPTED this 11th day of December, 2003 by the following called vote: AYES: Armstrong, Beverage, Korn, Mills, Summerfield NOES: None ABSENT: None ABSTAIN: None William R. Mills, Presid nt Yorba Linda Water District ATTEST: Michael A. Payne, Secretary, Yorba Linda Water District