HomeMy WebLinkAboutJ.M.Moore - Business Contracting Officer for the City's Banking-Trust-Invstmnt RelationshipsCITY OF PALM DESERT
OFFICE OF THE CITY TREASURER
STAFF REPORT
REQUEST: RECOMMEND APPROVAL OF JANET M. MOORE, FINANCE
DIRECTOR & CITY TREASURER, AS A BUSINESS CONTRACTING
OFFICER FOR THE CITY OF PALM DESERT'S BANKING, TRUST,
AND INVESTMENT RELATIONSHIPS.
SUBMITTED BY:
Thomas J. Metz, Deputy City Treasurer
CONTRACTOR:
Not Applicable
DATE:
May 12, 2016
CONTENTS:
Staff Report
Recommendation
By Minute Motion, approve Janet M. Moore, Finance Director & City Treasurer,
as a Business Contracting Officer for the City of Palm Desert's banking, trust,
and investment relationships, with the authority to sign related technical
documents on the City's behalf.
Committee Recommendation
Not Applicable.
Strateqic Plan Obiective
Not Applicable.
Background
Palm Desert Municipal Code Section 2.08.040 specifies that the Director of Finance for the City
of Palm Desert ("City') shall also serve as City Treasurer. The City Treasurer is the Business
Contracting Officer ("BCO") for the City's banking, trust, and investment relationships, and signs
all related technical documents. Whenever there is turnover in the City Treasurer's position,
certain financial documents have to be re -executed by the new City Treasurer. Union Bank
requires a copy of City Council minutes affirming that the new City Treasurer has such powers.
Staff recommends that Finance Director & City Treasurer Janet M. Moore be appointed as a
BCO for the City's banking, trust, and investment relationships, with the authority to sign any
related technical documents.
Staff Report
Approval of Finance Director as Business Contracting Officer
May 12, 2016
Page 2 of 2
Fiscal Analvsis
Without a Business Contracting Officer, the City may not be able to conduct its financial
business in a timely manner.
Submitted By:
Thomas J. Met eputy C Treasurer
Approved By:
c
n cCarthy, Interim Cit arager
tj m
Reviewed By:
aannetM. Moore, Finance irector
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