TOWN OF VIEW ROYAL COUNCIL REPORT - Disbursements Signing Policy
Report considering the replacement of the Cheque Signing Policy with a broader Disbursements Signing Policy that includes electronic funds transfers.
TOWN OF VIEW ROYAL COUNCIL REPORT
TO: Council DATE: September 20, 2018 FROM: D. Christenson, Director of Finance MEETING DATE: September 25, 2018
Disbursements Signing Policy
RECOMMENDATION:
THAT Policy No. 1600-013 (Cheque Signing) be rescinded and replaced with Policy #1600-022 (Disbursements Signing).
CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:
I concur with the recommendation.
PURPOSE OF REPORT:
To consider replacing the current Cheque Signing Policy #1600-013 with a disbursements signing policy that also authorizes electronic funds transfers, updates the titles of signing authorities and strengthens fraud prevention measures.
BACKGROUND DISCUSSION:
At its September 18, 2018 meeting the Committee of the Whole considered a disbursements signing policy and suggested improvements that retained the requirement for the Mayor to review and authorize payments over $25,000. The attached policy achieves this while permitting authorized signatories to complete the electronic transfer of payments efficiently.
RECOMMENDATION:
THAT Policy No. 1600-013 (Cheque Signing) be rescinded and replaced with Policy #1600-022 (Disbursements Signing).
SUBMITTED BY: D. Christenson, Director of Finance
REVIEWED BY: K. Anema, Chief Administrative Officer
Attached:
- Policy #1600-013 (Cheque Signing)
- Policy #1600-022 (Disbursements Signing)
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