Resolution 16-02 - Authorizing signers for various accounts

To:                         Michael Green

From:                    Stephanie Patterson

Date:                     April 14, 2016

Subject:                 Briefing for Board Resolution #16-02

 

The District maintains a system of bank accounts as defined in Board Policy No. 6020 with Columbia Bank that include depository accounts and petty cash accounts associated with the ASB Fund and General Fund income and expenses. The three accounts that I am requesting authorization to update signers on are identified as:

  1. District Depository Account (7000133798): Exclusively for deposits of cash and checks collected at the buildings and Business Office for things such as ASB cards, student fees, book fair proceeds, and fund raising proceeds. Online payments and credit/debit payments made in the offices are also deposited to this account. All funds transferred to the Cowlitz County Treasurer weekly.
  2. Food Service Depository Account (7000133749): Exclusively for deposits of cash and checks for payment for meals purchased at all schools. All funds transferred to the Cowlitz County Treasurer weekly.
  3. District Revolving Fund (7000133814): Commonly referred to as an imprest fund. This account is used when it is impractical to make disbursement by warrant. Examples would be postage for bulk mailing, reimbursements to students/families and KWRL per diem for overnight travel.  It is understood that reimbursement for checks written on the District Revolving Fund Account will be paid through accounts payable monthly to cover any and all releases from these accounts.

 

Stacy Brown, who is independent of invoice processing, check signing, general accounting and cash receipt functions, is the custodian for the three accounts and is responsible for reconciling the bank statements and auditing all checks written from these accounts for accuracy.  She also prepares and processes the ACH transfer to the County Treasurer weekly.

Due to staff changes it has become necessary to update the account signers. It is my recommendation that the Board approves Resolution # 16-02 authorizing Michael Green, Asha Riley and Stephanie Patterson as signers on behalf of Woodland School District on account number 7000133798 (District Depository Account), 7000133749 (Food Service Depository Account) and 7000133814 (District Revolving Fund Account).

 

Ref:  WAC 392.138.120, RCW 28A.320.330, Board Policy #6020

 

 

Administrative Recommendation/MOTION/ "I move we adopt resolution 16-02"

Attached Files:
NameSizeType
Resolution 16-02.pdf 97KB application/pdf