City of Gonzales
FINANCE DEPARTMENT
STAFF REPORT
TO: Honorable Mayor Rios and City Council
DATE: February 6, 2023
FROM: Mike Howard, Finance Director
THROUGH: Trevin Barber, City Manager
SUBJECT: Resolution No. 2023-09 Authorizing the Establishment and Maintenance of Bank Accounts for the Municipal Funds and Repealing Resolutions in Conflict Herewith
RECOMMENDATION
It is recommended that the City Council adopt Resolution No. 2023-09, A Resolution of the City Council of the City of Gonzales Authorizing the establishment and maintenance of bank accounts for municipal funds and repealing resolutions in conflict herewith.
BACKGROUND
The City of Gonzales, currently has municipal fund accounts with Mechanics Bank, both Checking and Money Market, in addition to The Local Agency Investment Fund (LAIF). These are funds used for the day-to-day operations of the City.
It is important that the City maintain current those authorized to maintain and transfer funds for the payment of City expenditures and payroll. As a result of recent changes in city management, it has become necessary to update those officers authorized to maintain, deposit, and transfer funds on behalf of the City’s municipal bank accounts and investment accounts.
REVIEW AND ANALYSIS
As a result of the recent changes in city management, it is important to update signature authority related to the City’s municipal bank accounts and investment accounts.
Explain Recommendation and How it Supports the Vision
AGENDA
ITEM
13 Gonzales will continue to be a safe, clean, family-friendly community, diverse in its heritage, and committed to working collaboratively to preserve and retain its small town charm.
Explain: It is important that the City maintain normal operations with appropriate signature authority. This is important because it is necessary to keep a close watch on the resources needed to carryout the Mission.
Explain how the Recommendation Directly Implements the Mission The City Council and Staff of the City of Gonzales will realize our Vision by providing the leadership, commitment and resources necessary to provide excellent services that enhance the quality of life of our diverse community. X Yes _____No _____ NA
Explain: Please see explanation above for the Vision.
Strong fiscal policies allow us to provide appropriate infrastructure for:
• Public Safety X Yes No N/A
• Housing X Yes No N/A
• Recreation X Yes No N/A
• Environment X Yes No N/A
• Education X Yes No N/A
Explain: Please see explanation above.
ALTERNATIVES
• Adopt the proposed resolution.
• Do not adopt the resolution. However, failure to adopt the resolution may not enable the City to manage its municipal funds for day-to-day operations.
• Provide other direction to staff.
BUDGET IMPACT
There is no budget impact to the adoption of this resolution. By approving the proposed resolution, the City of Gonzales will be able to maintain normal city operations.
CONCLUSION
It is recommended that the City Council adopt Resolution No. 2023-09, A Resolution of the City Council of the City of Gonzales Authorizing the establishment and maintenance of bank accounts for municipal funds and repealing resolutions in conflict herewith.
Attachments:
1. Resolution No. 2023-09