HomeMy WebLinkAbout4.05 Appoint Treasurer and Deputy Treasurer CITY OF DUBLIN. x700-30
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: November 10, •• 1986
SUBJECT Appointment of City Treasurer, Deputy City Treasurer-
and formalization of signatures authorizing City
investments
EXHIBITS ATTACHED Resolution appointing City Treasurer and Deputy City
Treasurer; Investment Form;
RECOMMENDATION�, � Adopt Resolution
FINANCIAL STATEMENT: None
DESCRIPTION I have discussed the City' s investment policy,
strategies and philosophies with the Finance Director. We agree that the
primary emphasis in the investment of municipal funds in the order of
priority shall be :
1 ) the safety
2) the liquidity
3) the yield
Based upon our discussions and by virtue of the fact that Mr. Molina has had
municipal investment responsibilities for over seven years with a
$22, 000, 000 portfolio, I recommend that the City Council appoint the Finance
Director as the City Treasurer.
Because the best method to assure good control of any financial transaction
is to always have at least two individuals involved, the Finance Director
has prepared a form (copy attached) which should be used for every
investment made by the City. It is appropriate to note that the Deputy
Treasurer, City Clerk, Deputy City Clerk or any other City Officer can
counter sign the form. This form must be appended to each investment file
and would be subject to the audit process . The form- is self explanatory and
only reflects the pertinent facts of each investment .
Because the City Treasurer may, from time-to-time, be unavailable at City
Offices and because it is prudent to identify an alternate City employee as
the Deputy Treasurer, Staff requests that the City Council appoint the City
Manager as Deputy City Treasurer. Staff recommends that the City Council
adopt the attached resolution.
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COPIES T0:
ITEM NO. '��
RESOLUTION NO. - 86
A RESOLUTION OF THE CITY COUNCIL•
i,u;, r . :1�v m n-r -i6c OF THE CITY OF DUBLIN rug' i'7lPJ. r;
APPOINTING THE CITY TREASURER AND
DEPUTY CITY TREASURER
WHEREAS, the City Treasurer ' s function, as prescribed by
the California Government Code Section 41004-41004 , includes the
receiving and safekeeping of all money coming into the Municipal
Treasury, the requirement to comply with all laws governing and
securing of public funds , the order to pay on warrants signed by
legally designated persons, the need to submit written reports to
the City Clerk and City Council ; and
WHEREAS, the City Treasurer shall also be responsible
for investment of City funds, obtaining funds during dry period
financing, determining the taxing and spending limitations of
California Constitution Articles XIIIA and XIIIB and any other
duties that may from time-to-time be promulgated by the
appropriate legislative body; and
WHEREAS, the Municipal Finance Director has proper
training and experience in matters concerning the duties and
responsibilities of the City Treasurer; and
WHEREAS, it is prudent to establish a Deputy City
Treasurer to function at times when the City Treasurer is
unavailable for more than a day or during an emergency.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Dublin hereby appoints the Municipal Finance Director
to hold the position of City Treasurer for concurrent term in
office and furthermore, that the City Manager be appointed to the
position of Deputy City Treasurer .
BE IT FURTHER RESOLVED that each investment of City
funds shall be substantiated by the appendage of signatures of two
City Officers on the form shown as Exhibit A, enclosed herewith.
PASSED, APPROVED AND ADOPTED this 10th day of November,
1986 .
AYES :
NOES:
ABSENT:
Mayor
ATTEST:
City Clerk
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19 J- _1� CITY OF DUBLIN xt' f
C' P.O. Box 2340 DUBLIN, CALIFORNIA 94568 r j
'Ill FOk`' . . - - ...
DATE- OF TRANSACTION =
CITY OFFICES _6500 DUBLIN BLVD. - '
form certifies that the. City of Dublin :.authorizes the
investment of Municipal Funds with :the.-'foll owing
:':-
ADMINISTRATION understanding :
829-4600
1 . INSTITUTION NAME
BUILDING INSPECTION
829-0822 2, TYPE OF INSTRUMENT
CITY COUNCIL 3 . COST OF INSTRUMENT
829-4600
4. FACE VALUE OF INSTRUMENT
CODE ENFORCEMENT
829-0822 5 . DATE OF PURCHASE
6 . DATE OF MATURITY-L /
ENGINEERING
829-4927 7 . NUMBER OF DAYS INVESTED
FINANCE 8. RATE
829-6226
9 . AMOUNT EARNED $
PLANNING
829-4916
Face = Cost
POLICE
829-0566 [ (i/360) (# days -.invested) — 1 ]
PUBLIC WORKS
829-4927 -
RECREATION
829-4932
CITY CLERK
CITY TREASURER
WIRE TRANSFER INSTRUCTIONS :
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