Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Administration topic
No spam. Unsubscribe anytime.
Albany board names banks, retains counsel and auditor, and grants financial authorities
Summary
The board authorized depositories (Stearns Bank; Magnifi Financial—Albany; PMA Financial Network 'MN Trust'), retained Pemberton Law and Schlenner‑Wenner for audit, set official signatories and gave business manager and superintendent authority to invest excess funds and make electronic transfers.
At the Jan. 8 meeting, the Albany Area Schools board authorized three bank depositories—Stearns Bank, Magnifi Financial (Albany branch) and PMA Financial Network, known as 'MN Trust.' The depository authorization passed with all present voting for the motion; Dirkes recorded an abstention on the depository vote as noted in the minutes.
The board also voted to retain Pemberton Law as the district’s legal counsel and to continue with Schlenner‑Wenner for audit services. The board designated the Board Chair and the Superintendent as the officials authorized to contact legal counsel on behalf of the district. The board further authorized the business manager and superintendent to invest excess funds, make electronic fund transfers, and allowed the superintendent to expend funds within budget guidelines; all these motions passed unanimously.
The board kept temporary signature arrangements in place until new official signatures are prepared. The new official signers will include Chair Hansen, Clerk Sand (Amy Sand), Treasurer Dirkes, Superintendent Okerlund, and Business Manager Clemen.
