HomeMy WebLinkAbout22-140 - ADMIN Resolution - City Council - 2022/09/19Resolution No. 22-140
Resolution delegating authority to make electronic funds transfer and
authorizing credit card officers
Whereas, electronic funds transfer is the process of value exchange via mechanical means
without the use of checks, drafts, or similar negotiable instruments.
Whereas, in accordance with Minnesota Statute 471.38, a local government may make an
electronic funds transfer for the following:
(1) for a claim for a payment from an imprest payroll bank account or investment of
excess money;
(2) for a payment of tax or aid anticipation certificates;
(3) for a payment of contributions to pension or retirement fund;
(4) for vendor payments; and
(5) for payment of bond principal, bond interest and a fiscal agent service charge from
the debt redemption fund.
Whereas, the city utilizes electronic funds transfer for disbursements related to the
transmittal of payroll, payroll withholdings, debt service payments and other disbursements.
Whereas, Statute 471.38 requires that certain controls be enacted in order for a local
government to utilize electronic funds transfer, including that the governing body annually
delegate the authority to make electronic funds transfers to a designated business
administrator or chief financial officer or the officer’s designee.
Whereas, the city must designate corporate officers for all city credit card accounts and
are allowed to:
(1) Manage all city credit card accounts
(2) Issue new credit card accounts to other designated officers or employers
(3) Close credit card accounts for other designated officers or employees
(4) Speak with the credit card company on behalf of any city credit card account
(5) Handle all business needs as it relates to city credit card accounts
Now therefore be it resolved by the City Council of the City of St. Louis Park, Minnesota,
that:
1. Pursuant to Minnesota Statute 471.38 the city council delegates the authority to
make electronic funds transfers on behalf of the city to the city’s chief financial
officer or their designee.
2. The chief financial officer is directed to take all steps necessary for compliance with
Minnesota Statute 471.38.
3. This delegation of authority shall remain in effect until superseded by a subsequent
resolution.
4. The following Staff are authorized as credit card officers:
a. Finance Manager
b. Accounting specialist
c. Senior accountant
d. Accounting supervisor
e. Finance director
DocuSign Envelope ID: 76C2FAB8-B613-400D-A2D9-F5E897B5138E
Resolution No. 22-140 2
Reviewed for administration:
Adopted by the City Council September 19, 2022
Kim Keller, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: 76C2FAB8-B613-400D-A2D9-F5E897B5138E