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Wasco council updates investment signatories, retroactively authorizes city manager for one transfer; routine resolutions pass
Summary
At its meeting, the Wasco City Council and related agencies adopted multiple routine resolutions updating authorized bank signatories and added temporary delegation language to the city investment policy; council retroactively approved a transfer made by the city manager.
The Wasco City Council and its related successor agencies adopted a series of routine resolutions updating authorized signatories on several municipal investment accounts and amended the city’s investment policy to allow temporary delegation of authority during vacancies. Council also retroactively authorized a transfer made last week by the city manager.
The votes were procedural housekeeping prompted by a vacancy in the finance director position and recent staff changes. Council members present — Mayor Pro Tem Salvania, Council Member Martinez and Council Member Raya — voted to approve the resolutions; Mayor Medina and Council Member Rainer were absent.
The resolutions approved by the council and related governing boards included: adding Rocio Mosqueda as an authorized signer for the successor agency’s bank accounts and for the Wasco Public Financing Authority accounts; updating authorized signatories for the Local Agency Investment Fund (LAIF), the California Co‑op liquid asset vehicle (CalClass), and the city’s US Bank investment accounts; and amending the city investment policy to allow the council, by resolution, to temporarily designate alternate staff when a designated finance position is vacant or absent. The council also retroactively acknowledged a single transfer executed last week and explicitly authorized the city manager’s authority for that transaction.
City Manager Herbert told the council the investment policy change is intended to provide a clear temporary delegation path while the finance director position is vacant. "In the event of a vacancy or prolonged absence in any of the designated positions referenced above, the city council may, by resolution, authorize additional or alternate staff to assume the responsibilities outlined in this policy," Herbert read from the proposed language on the dais.
Council members made no substantive amendments during the hearings and offered no public comments on the items. Motions to adopt each resolution were made by Council Member Martinez and seconded by Council Member Raya; each motion carried 3–0 with Mayor Medina and Council Member Rainer absent.
Votes at a glance - Successor Agency to the former Wasco Redevelopment Agency: adopt resolution authorizing signing authority for successor agency bank accounts and adding accounting manager as a signer. Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - Wasco Public Financing Authority: adopt resolution adding Rocio Mosqueda as authorized signer for financing authority bank accounts. Motion: Martinez; second: Salvania (procedural). Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - Investment policy amendment (city): add delegation paragraph permitting council to authorize alternate/ additional staff during vacancies; retroactive ratification of one transfer executed by the city manager. Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - Local Agency Investment Fund (LAIF): update authorized signatories (remove prior individuals and add City Manager Herbert, Assistant City Manager Lamar Rodriguez, and Deputy Treasurer Rocio Mosqueda as appropriate per staff report). Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - California Cooperative Liquid Asset Security System (CalClass): update authorized signatories (same personnel changes as LAIF). Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - US Bank investment accounts: update authorized signatories (same personnel changes). Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent. - Consent calendar (items 11a–11f): approved as presented in a single motion. Motion: Martinez; second: Raya. Outcome: approved, 3 ayes, Mayor Medina and Council Member Rainer absent.
Why it matters: The bundle of actions clarifies who can move and sign city funds while the finance director role is vacant and updates institutional records at state and private investment custodians. City staff characterized the votes as routine housekeeping needed to ensure access and proper controls over operating and reserve accounts.
Council did not take up substantive policy changes to investment strategy or reserves during the session; the changes narrowly address signatory authority and temporary delegation during staff vacancies.
