HomeMy WebLinkAbout4.07 1stNationwideBnk-PoliceInvst
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: May 8,1995
SUBJECT
Designation of 1st Nationwide Bank- Police Investigation Account
~Prepared by: Paul S. Rankin, Assistant City Manager)
EXHIBITS ATTACHED (1) / Resolution
(2) / Excerpt From Accounting Procedures Related To Police
r/'" Investigation Account
RECOMMENDATIO~ Adopt Resolution
FINANCIAL STATEMENT:
This action will have no impact on costs as all expenditures are made
as part of the annual budget process. The account will not incur any
fees and will accrue a minimal amount "of interest revenue.
DESCRIPTION: The City has maintained an account at Homestead Savings since 1985 as a revolving
fund for Police Special Investigations. 1st Nationwide Bank has acquired Homestead Savings and it is
necessary for the designated officials to execute new signature cards. No other changes are anticipated by
Staff in the administration of this account.
Consistent with current policy, Staff has prepared a Resolution (Exhibit 1) which will record the
designated signers on this account as the City Manager and the Police Chief. In addition the resolution
acknowledges the change in ownership of the bank. As shown in Exhibit 2 the City has adopted policies
and procedures related to these funds, including a restriction on the maximum amount retained in the
account.
Staff recommends that the City Council adopt the Resolution.
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ITEM NO. 4.. 7'
COPIES TO:
CITY CLERK
FILE ~
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RESOLUTION NO. - 95
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
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DESIGNATING THE PROVIDER OF BANKING SERVICES
FOR POLICE INVESTIGATION ACCOUNT
(1st Nationwide Bank)
WHEREAS, on August 12, 1985, the Dublin City Council authorized the establishment
of a Revolving Special Investigative Fund; and
WHEREAS, an interest bearing account was established at Homestead Savings; and
WHEREAS, an acquisition was made by 1st Nationwide Bank and Homestead Savings
is no longer in existence; and
WHEREAS, it is appropriate to have a resolution which clearly designates providers of
banking services to the City of Dublin; and
WHEREAS, the City has adopted accounting procedures related to this account
including a restriction on the total balance; and
WHEREAS, the account is interest bearing and will not incur service charges.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin
does hereby designate 1st Nationwide Bank: as the provider of banking services for the City of
Dublin Police Investigations Account.
BE IT FURTHER RESOLVED that the City Manager and the Police Chief shall be the
authorized signers on the account and these officials are hereby authorized to execute any
documents on behalf of the City of Dublin to establish or amend the banking services provided to
the City of Dublin by 1st Nationwide Bank, as they may relate to this account.
PASSED, APPROVED AND ADOPTED this 8th day of May, 1995.
AYES:
NOES:
ABSENT:
Mayor
ATTEST:
City Clerk
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D. Police Investigation Account
The Police Investigation account ~hall contain not more than
$5,000 and will be primarily used in the investigation of
drug/narcotic investigations, however, funds may be used for
other types of investigations such as: gambling, prostitution,
crimes of moral" turpitude and in certain cases, other criminal
investigations.
1. The Police Chief shall serve as custodian of the
Investigation Account.
2. Requests for cash shall be recorded on a standard request
form.
a. Either. Police Chief or City Manager can withdraw funds
from account.
b. Any expenditure of funds by police personnel requires
the approval of the Police Chief.
c. Police Chief records and issues funds to investigator
who signs a receipt indicating amount received, date of
transaction and usage.
d. Investigator who receives funds keeps a log indicating
how funds were spent. Information includes case
number, date and reason for expenditure.
e. Police Chief rev~ews investigator's log.
f. City Manager reviews Police Chief's and investigator's
records and logs.
g. Request for reimbursements will be submitted to the
Finance Technician who shall replenish the account,
reimbursement not to exceed the Council approved
budget.
EXCERPT ADOPTED ACCOUNTING PROCEDURES PG.5
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