CC - Item 5C - Authorized Signers on Bank/Credit Card Accounts for the City and the Rosemead Housing Development CorporationROSEMEAD CITY COUNCIL AND
ROSEMEAD HOUSING
DEVELOPMENT CORPORATION
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: GLORIA MOLLEDA, CITY MANAGER ,
DATE: JUNE 23, 2020
STAFF REPORT
SUBJECT: AUTHORIZED SIGNERS ON BANK/CREDIT CARD ACCOUNTS FOR
THE CITY AND THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION
SUMMARY
The City of Rosemead (City) and the Rosemead Housing Development Corporation (RHDC)
require several different bank/credit card accounts to efficiently operate financial matters.
Staffing has changed for these accounts and there is only one authorized signer left employed
under these current accounts. As with our other Bank Accounts, staff is requesting that the City
Council and the RHDC's Board authorize the City Manager (Board Executive Officer), the
Assistant City Manager (Assistant Executive Officer), the Director of Finance, and the Finance
Manager to be added by Resolution of the City Council and RCDC Board to be the authorized
signatories of the Bank of America credit card accounts. In addition, when new individuals
replace incumbents, bank/credit card signature cards must be completed with authority given to
the City Manager (Executive Director) and the Finance Director for any additions or deletions of
signers due to staff replacements.
STAFF RECOMMENDATION
Staff recommends that the City Council adopt Resolution No. 2020-26 and Resolution No. 2020-
06 RHDC, authorizing and adding the City Manager (Board Executive Officer), the Assistant
City Manager (Assistant Executive Officer), the Director of Finance, and the Finance Manager
as authorized signers on the City's bank/credit card accounts with Bank of America or any future
successor banks as approved by the City Treasurer.
Staff also recommends that the City Council and RHDC Board authorize the City Manager
(Executive Director) and the Director of Finance to remove previous staff incumbents who are
no longer part of the City and RHDC.
FISCAL IMPACT - None
STRATEGIC PLAN IMPACT — Adoption of the Resolutions is consistent with the Strategic
Plan's guiding principal for fiduciary responsibility of providing for transparency in financial
management of City/RHDC's finances. AGENDA ITEM 5.0
City Council Meeting
June 23, 2020
Page 2 of 2
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
AVA--,z -
Scott Miller finance Consultant
Tess Anson, -Finance Manager
Attachment A: Resolution No. 2020-26
Attachment B: Resolution No. 2020-06 RHDC
Attachment A
Resolution No. 2020-26
RESOLUTION NO. 2020-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD, CALIFORNIA, DESIGNATING THE CITY
MANAGER, ASSISTANT CITY MANAGER, THE DIRECTOR
OF FINANCE AND THE FINANCE MANAGER AS
AUTHORIZED SIGNERS FOR CITY BANK/CREDIT CARD
ACCOUNTS WITH BANK OF AMERICA OR ANY FUTURE
SUCCESSOR BANK/CREDIT CARD ISSUER
WHEREAS, the City of Rosemead established several bank accounts at Bank of America
and other Banks, and
WHEREAS, the Bank of America credit and bank accounts have old authorized signers no
longer with the City, and
WHEREAS, from time to time, staff in authorized positions are hired or separated in
employment with the City, bank/credit card authorization signature cards need to be updated to
reflect only those persons currently authorized as signers on the accounts, and
WHEREAS, the City may from time to time change credit card providers from Bank of
America to other banks/credit card issuers that the City finds better able to meet the City's needs,
NOW THEREFORE, BE IT RESOLVED, the City of Rosemead does hereby authorize
the following employees of the City as authorized signers on the Bank of America, or other future
successor bank or credit card issuer's bank/credit card accounts: the City Manager, the Assistant City
Manager, the Finance Director and the Finance Officer;
BE IT FURTHER RESOLVED, the City of Rosemead allow these authorized signers to
add other City employees to use City credit cards for City financial business only and to periodically
update the names of these authorized employees as they are hired or terminated in their employment
with the City.
PASSED, APPROVED, AND ADOPTED this 23rd day of June, 2020.
Sandra Armenta, Mayor
APPROVED AS TO FORM: ATTEST:
Rachel Richman, City Attorney
Ericka Hernandez, City Clerk
Attachment B
Resolution No. 2020-06 RHDC
RESOLUTION NO. 2020-06 RHDC
A RESOLUTION OF THE ROSEMEAD HOUSING
DEVELOPMENT CORPORATION DESIGNATING THE
EXECUTIVE DIRECTOR, THE ASSISTANT EXECUTIVE
DIRECTOR, THE DIRECTOR OF FINANCE AND THE
FINANCE MANAGER AS AUTHORIZED SIGNERS FOR
THE COMMISSION'S BANK/CREDIT CARD ACCOUNTS
WITH BANK OF AMERICA OR ANY FUTURE SUCCESSOR
BANK
WHEREAS, the Rosemead Housing Development Corporation (RHDC) has authorized staff
to use credit cards issued by Bank of America and other Banks to conduct RHDC financial business,
and
WHEREAS, the Bank of America credit and bank accounts have old authorized signers no
longer with the RHDC, and
WHEREAS, from time to time, staff in authorized positions are hired or separated in
employment with RHDC, bank/credit card authorization signature cards need to be updated to reflect
only those persons currently authorized as signers on the accounts, and
NOW THEREFORE, BE IT RESOLVED, the RHDC does hereby authorize the following
employees of the City as authorized signers on the Bank of America, or other successor bank or
credit card issuers bank/credit card accounts: the Executive Director, the Assistant Executive
Director, the Finance Director and the Finance Officer;
BE IT FURTHER RESOLVED, the RHDC allow these authorized signers to allow other
City/RHDC employees to use City/RHDC credit cards for RHDC financial business only and to
periodically update the names of these authorized employees as they are hired or terminate their
employment with the City/RHDC.
PASSED, APPROVED, AND ADOPTED this 23rd day of June, 2020.
Sandra Armenta, President
APPROVED AS TO FORM: ATTEST:
Rachel Richman, City Attorney
Ericka Hernandez, Board Secretary