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Board designates banks, auditors and legal counsel; approves signature and credit-card policies
Summary
The board approved a package of administrative and financial housekeeping measures: designation of depositories, authorization to use a facsimile signature plate, a district credit-card policy, appointment of auditors and legal counsel, and naming permitted contract agents.
At its July 27 meeting the board approved several administrative and financial resolutions, including designating JPMorgan Chase Bank, N.A. and the Michigan Liquid Asset Fund Plus as district depositories; authorizing the chief financial officer to file forms to use a facsimile signature plate; and adopting a credit-card policy that limits issuance, requires documentation and caps combined credit limits at 5% of the total district budget.
Derek Fisher presented the depository recommendation in the motion that "the JPMorgan Chase Bank, n a, and the Michigan liquid asset fund plus be designated as depository of Garden City Public Schools and authorized to accept for credit of the school district and or for collection of any and all checks, drafts, and other negotiable instruments when endorsed in the name of Garden City Public Schools." The board approved the resolution by voice vote.
The board also designated Miller Johnson as general legal counsel (without retainer) and authorized use of listed outside firms when conflicts exist. The auditing firm Yo and Yo was designated as the district's auditing firm and financial adviser without retainer. Finally, the board resolved to designate contract agents authorized to execute contracts on behalf of the district — naming Derek Fisher (superintendent), Stacy Williamson (associate superintendent) and Steve Wisniewski (chief financial officer) — and approved that resolution by voice vote.
