Title
Approval of Authorized Signers for County Bank and Investment Accounts.
Recommended Action
I move that Council approve the individuals authorized to sign on all County of Los Alamos bank and investment accounts as presented in the attachment, to be effective on October 26, 2016.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as presented.
Body
Article IV of the County Charter requires formal Council action to approve all individuals authorized to sign on County bank and investment accounts. The list of accounts and authorized signers is updated periodically to keep it current and to avoid potential audit findings. The following changes are proposed to update the listing that was approved in July 2016.
This action removes Amanda Salazar as a signer on the Employee Fund Account due to her departure from the County. All banking access has already been removed upon her departure.
This action adds Bernadette Martinez, Senior Human Resources Technician to the Employee Fund Account.
Further, this action adds Juanita McNeil, Court Administrator as a signer on the Municipal Bond Account. Juanita recently filled the position vacated by Monica Thompson.
Finally, this action formalizes the changes in signature authority.
Alternatives
If this is not approved there could be a negative impact on internal customer service and the County's ability to invest public funds and perform routine banking operations.
Fiscal and Staff Impact/Planned Item
There is no fiscal impact related to this action. There is minimal impact to accomplish the changes to signature cards on the various accounts.
Attachments
A - Authorized Signers on Bank and Investment Accounts - October 2016