FINANCE
DEPARTMENT
M E M O R A N D
U M
To: Honorable Mayor and City
Commission
From: Richard
D. Sala, City Manager
By: Debra Sears, Finance Director
Date: February 26, 2008
Subject: Change in Signatories – Bank of
As a result of recent staff changes, it is necessary
to advise our current safekeeping services provider – Bank of New York of those
changes and to revise certain bank forms in order to designate the appropriate
City representatives who are authorized to have access to the City’s
safekeeping account.
The attached form designates the appropriate City
representatives who will have authority to access the City’s safekeeping
account and is utilized to maintain proper internal controls.
The City is responsible for filing this form with
Bank of New York to reflect staffing changes and account signatory
authorization. This bank form ensures
that Bank of New York’s records are kept up to date with the City’s intended
authorizations. The following
individuals were previously authorized and will continue to have access to the
account described above:
Ambreen
Bhatty, Assistant City Manager
Ydia
A. Forster, Interim Finance Director
At this time, the form will be updated to reflect the following additions:
Debra Sears, Finance Director
Additionally, effective March 10, 2008, Ydia A.
Forster, Interim Finance Director will be automatically deleted.
RECOMMENDATION:
The Administration recommends Commission’s
consideration and approval of the attached Resolution authorizing and directing
the City Manager to amend the list of authorized users for all Bank of New York
accounts as set forth on the Certificate of Authorized Persons.
RESOLUTION NO ________
A RESOLUTION
OF THE CITY COMMISSION OF THE CITY OF
WHEREAS, the City Commission for the
City of North Lauderdale (“City”), previously authorized the use of Bank of New
York for Safekeeping Services; and
WHEREAS, as a result of recent staff
changes, it is necessary to advise Bank of New York of those changes and to
revise the City’s signature cards in order to designate the appropriate City
representatives who are authorized to have access to the City’s accounts; and
WHEREAS, the City Commission finds that it is in the best interests of the City
to approve the attached Certificate of Authorized Persons in order to designate
the appropriate City representatives who will have authority to access the
City’s accounts and to maintain proper internal controls.
NOW, THEREFORE, BE IT RESOLVED BY
THE CITY COMMISSION OF THE CITY OF
Section 1. The foregoing “WHEREAS” clauses are hereby ratified
and confirmed as being true and correct and are hereby made a specific part of
this Resolution upon adoption hereof.
Section 2. That the City Manager be and the same is
hereby authorized, and directed to amend the list of authorized users for all
Bank of New York accounts as set forth on the Certificate of Authorized
Persons.
Section 3. That this amendment shall add Finance
Director Debra Sears and to all account access and as authorized users to all
accounts.
Section 4. That this amendment shall automatically remove Interim Finance
Director Ydia A. Forster effective March 10, 2008.
Section 5. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED BY THE CITY COMMISSION
OF THE CITY OF
APPROVED AS TO FORM:
__________________________________
CITY ATTORNEY SAMUEL S.
GOREN
______________________________
MAYOR
JACK BRADY
______________________________
VICE MAYOR JOHN CANGEMI
ATTEST:
_________________________________
PATRICIA
VANCHERI, INTERIM CITY CLERK