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Board adopts electronic funds-transfer resolution, names transfer authorities and financial institutions
Summary
The board approved a resolution delegating electronic funds-transfer authority under Minnesota statute, named authorized transfer administrators, confirmed banking depositories and investment institutions, and authorized bank signatories for 2026.
The Bird Island–Olivia–Lake Lillian School Board adopted a resolution delegating authority to make electronic fund transfers under Minnesota Statute section 471.38 and identified authorized administrators at its Jan. 5 organizational meeting.
During the reading of the resolution, the board named Nicole Vite, identified in the packet as an SWWC business service specialist, and Tim (superintendent) as the school business administrators authorized to make electronic fund transfers for Jan. 5–Dec. 31, 2026. The resolution was read into the record and approved by vote.
The board also approved Hometown Bank of Olivia as the district's official depository for 2026 and authorized a list of local financial institutions for investment purposes. The institutions named in the packet included local/community banks and financial services listed for the calendar year.
Separately, the board confirmed the Hometown Bank signatories: chair Greg Pepple, vice chair Brad, clerk Mariela, treasurer Sandy Benson and superintendent Tim, with Nicole Vite authorized for transfers; checks were to require three signatures.
Board members discussed procedural clarifications about the business manager and assistant business manager roles and noted bank paperwork and signed resolutions would be prepared and circulated following the meeting.
The resolution and bank authorizations take effect immediately; staff were directed to prepare signature documents for execution.
