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CONSENT CALENDAR
City of San Bernardino
Request for Council Action
Date: July 15, 2026
To: Honorable Mayor and City Council Members
From: Tarik Rahmani, Director of Finance
Department: Finance & Management Services Department
Subject: Resolution Authorizing Bank of America as an Approved Banking Institution and Designating Authorized
Signatories.
Recommendation:
It is recommended that the Mayor and City Council of the City of San Bernardino, California, adopt the attached Resolution No. 2026-121 authorizing Bank of America as an approved banking institution and designating authorized signatories for Bank of America accounts.
City Manager's Comments
The City Manager recommends approval of Bank of America as authorized bank. This will provide for better internal controls on the golf course management.
Executive Summary
The City of San Bernardino conducts its day-to-day banking operations through several different institutions. For each of these institutions, the City must authorize who is authorized to sign on the City’s behalf. Whenever there is a change to staff that is authorized, whether that be due to staff leaving or additional staff being added to the list of authorized individuals, staff must request council action to adopt an updated resolution. The same is true if there is a change to the institutions that the City conducts its business with.
Staff has identified a need to establish Bank of America as an approved banking institution for the purpose of maintaining the Shandin Hills Golf Club operating account.
The attached resolution authorizes the use of Bank of America for that purpose and designates authorized City signatories required by the financial institution.
Background
The City and Successor Agency must update bank and investment account signature 3 4
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authorizations on file with the various financial institutions that hold City and Successor Agency funds as personnel and organizational changes occur.
Most banking institutions require approval from the organization’s governing body through the adoption of a resolution and/or minutes from the meeting showing adoption and approval.
The City and Successor Agency have cash, investments, and other funds required to be held by fiscal agents in the following institutions:
1. Wells Fargo Bank, City;
2. Wells Fargo Bank, Successor Agency;
3. U.S. Bank, City;
4. U.S. Bank, Successor Agency;
5. BNY (Bank of New York) Mellon, City;
6. BNY (Bank of New York) Mellon, Successor Agency;
7. Citizens Business Bank, Successor Agency; and
8. Local Agency Investment Fund (LAIF), City - This program offers local agencies to participate in a major portfolio through the State Treasurer’s Office.
9. Authorized Brokers or Dealers for the City and Successor Agency The authorized signatories for the items listed above were approved at the regular council meeting on June 5, 2024.
Pursuant to the agreement governing the operation of Shandin Hills Golf Club, the operating account must be maintained at a City-authorized financial institution and include designated signatories. Bank of America has been identified as the institution that will be used for this purpose. Bank of America is not currently included among the City's approved banking institutions. Staff has identified the need to add Bank of America and establish authorized signatories for accounts maintained at that institution.
Discussion
The attached resolution authorizes Bank of America as an approved banking institution for purposes of maintaining the Shandin Hills Golf Club operating account and designates the City officials authorized to act on behalf of the City with respect to that account. Following approval by the Mayor and City Council, staff will forward the appropriate resolution to Bank of America.
In addition, as stated in the City's Investment Policy, the Director of Finance is charged with responsibility for carrying out investment actions and managing the City's banking relationships.
For consistency and transparency, staff periodically bring updated banking resolutions to the City Council whenever changes to institutions or authorized signatories are required.
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Strategic Targets and Goals
Approval of the resolution aligns with Key Target No. 1: Financial Stability by ensuring that the financial and administrative requirements to continue day-to-day operations in the Finance department are completed and kept up to date.
Fiscal Impact
There is no fiscal impact associated with adopting the attached Resolution.
Conclusion
It is recommended that the Mayor and City Council of the City of San Bernardino, California, adopt the attached Resolution No. 2026-121 authorizing Bank of America as an approved banking institution and designating authorized signatories for Bank of America accounts.
Attachments
Attachment 1 Resolution No. 2026-121 - San Bernardino - Bank of America Ward:
All Wards
Synopsis of Previous Council Actions:
06-05-2024 City Council approved Bank signatories of existing personnel at the time. 05-01-2024 City Council approved Bank signatories of existing personnel at the time. 11-01-2023: City Council approved Bank signatories of existing personnel at the time.
CC:
Eric Levitt