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Board approves depositories, signatories and purchase-card limits
Summary
The board designated MILAF, PNC, Fifth Third Bank and Kalamazoo County State Bank as depositories, approved authorized signatories for various accounts and payroll, and set purchase-card limits for district positions, including $100,000 limits for Assistant Superintendent and Controller.
The board approved designated cash and investment depositories for the district: MILAF, PNC, Fifth Third Bank and Kalamazoo County State Bank. Lucas Hillard moved to approve the depositories and the motion carried unanimously.
The board also approved authorized signatures for general fund disbursements, payroll, trust and agency accounts, and athletic checkbooks; the motions specified which positions (for example, Board President, Superintendent, Assistant Superintendent and Controller) are authorized signers. In addition, the board set purchase-card limits for many district positions, including $100,000 limits for the Assistant Superintendent and Controller and lower limits (typically $5,000–$7,500) for building-level principals and directors. The Assistant Superintendent was authorized to temporarily increase limits for specific purchases.
