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Shakopee board approves financial signers, depositories and municipal advisor
Summary
Board members approved check signers, facsimile signature use, official depositories, designation of PMA Securities, LLC as municipal financial advisor, and authorized the Director of Finance and Operations to deposit/invest surplus funds and make EFTs on behalf of the district.
During procedural actions at the Jan. 5 organizational meeting, the Shakopee Public Schools board approved multiple routine financial authorizations. The board approved that the Clerk, Treasurer, and Chair be authorized signers on district checks and authorized the use of facsimile signatures by those officers.
The board designated official depositories for district funds and named PMA Securities, LLC as the district’s municipal financial advisor. The Director of Finance and Operations (or designee) was designated to deposit and invest surplus funds, and the board authorized the Director to make electronic funds transfers (EFTs) on behalf of the district. Each item was adopted by motion and recorded as passing unanimously.
The board also approved a motion authorizing the Superintendent (or designee) to enter contracts and approve payments on behalf of the district after informing the board. These approvals collectively establish the routine fiscal authorizations and delegations the district will use through 2026.
