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Rush City board approves financial depositories, credit card program and EFT authority
Summary
The board approved official depositories for district funds including the MN School District Liquid Asset Fund, PMA Companies, Northwoods Bank, Ehlers and Unity Bank; authorized the Executive Assistant to coordinate a credit card program and designated the Business Manager and Superintendent to authorize electronic fund transfers. Motions were recorded as carried unanimously.
During the Jan. 9 organizational meeting, the Rush City school board approved a list of official depositories for district funds, adding Ehlers to the previously listed institutions: MN School District Liquid Asset Fund, PMA Companies, Northwoods Bank, Ehlers and Unity Bank. The motion to approve depositories was recorded as carried 4-0.
The board authorized the Executive Assistant to coordinate the district credit card program and designated the Business Manager and Superintendent as the authorized signatories for electronic fund transfers. Both actions were approved by recorded motions; the minutes record a 5-0 vote on the credit-card and electronic-transfer authorizations.
These authorizations assign administrative responsibility for financial operations and set the institutions that may hold district funds.
