REPORT TO THE CITY COUNCIL
DATE: June 26, 2017
FROM: MICHAEL LIMA, Controller/Finance Director/(ex-officio)Treasurer
Finance Department
BY: CORRINA BARBARITE, Treasury Officer
Finance Department
SUBJECT
Title
Appoint and authorize certain Finance Officers of the City of Fresno ("City") to sign City checks and various investment and commercial banking documents, and to provide verbal instruction required for the prudent financial administration and safekeeping of City funds
Body
RECOMMENDATION
Appoint and authorize certain City employees to act as Finance Officers to sign City checks and various investment and commercial banking documents, and to provide verbal instruction required for the prudent financial administration and safekeeping of City funds
EXECUTIVE SUMMARY
The City Council periodically adopts Resolutions which appoint Finance Officers for the City of Fresno to sign City checks and various investment and commercial banking documents, and to provide verbal instruction as required for the prudent financial administration and safekeeping of City funds. Since the approval of the last Resolution, there has been a change to the list of Finance Officers as shown on the attached Resolution.
BACKGROUND
Fresno Charter Section 804 establishes the position of Controller and specifies that this person is to have charge of the Finance Department and administer the financial affairs of the City under the direction of the Chief Administrative Officer. Fresno Municipal Code Section 7-901 names the City Controller as the ex-officio Treasurer of the City, and states that the Treasurer shall receive all moneys collected by the City and shall "retain the same in his custody to the order of said city."
Examples of the financial affairs assigned to the Controller include: signing payroll and accounts payable checks, purchasing investments, and performing various other banking transactions. In order for the Controller to effectively and efficiently ...
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