Development authority votes to move accounts under city control, end outside accounting services

The Forest Park Development Authority on a voice vote approved two financial moves aimed at transferring fiscal operations into city control.

At the meeting staff said the authority has opened a Bank of America account and deposited $8,000 and is working to connect the city's ENCODE financial system to the new account for reconciliations and reporting. Staff recommended closing the authority's existing off‑site bank account and terminating the outside accounting services currently used to manage the authority's books so the city can act as treasurer and provide monthly reconciliations and reports.

The motion to close the old account and move funds into the new Bank of America account was moved in the meeting record by the vice chair and seconded by a board member identified as Allen; the motion passed on a voice vote. The board also moved to end the contract with the authority's outside accounting firm; a second was recorded and the board approved that motion as well.

Staff said the transfer will centralize accounting in the city and make monthly reporting more timely. City finance staff told the board they will support ACH payments to vendors and work with the authority on procurement and accounts‑payable procedures. Staff noted some process changes will be needed, including occasional requisitions and purchase orders to route payments through the city's accounts‑payable department.

Next steps listed by staff include closing the off‑site account, completing the ENCODE‑bank connection, finalizing the termination of the outside accountant and returning a full set of initial financial reports to the board once the reconciliation process is ready.

The meeting record does not provide a roll-call of individual votes; the chair recorded the motions as adopted by voice vote.