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R-678 - 09/24/1996 - FINANCE - Resolutions Supporting Documents i_ Z cOUN VILLAGE OF OAK BROOK 1200 OAK BROOK ROAD OAK BROOK, ILLINOIS 60521 -2255 PHONE: 708 990-3000 FAX: 708 990.0876 Date: September 18, 1996 To: Village President and Board of Trustees From: Darrell Langlois Recommendation: That the V94--- llage President and Board of Trustees 1) approve Sections B and C of the attached Corporate Authorization Resolution and 2)approve the indented portion of the attached Facsimile Resolution which revise the procedures used for signing the Village's checks. The management letter issued by our auditors as part of the 1995 audit noted that some improvement in internal control over cash disbursements could be gained by revising the Village's check signing procedures. At the present time two signatures are required for all disbursements and almost all checks are signed via a facsimile signature plate bearing the name of the Village President and Village Treasurer. Howe-ar, since this s:Snature plate is always kept in my possession, we in fact only have a one signer system. The attached Corporate Authorization Resolution revises our current procedure by requiring only one signature on checks below $10,000 and two on all checks over $10,000. We will eliminate the signature plate that has two signatures and replace it with plates that only have one signature, with each person keeping their own signature plate in their possession. By doing this we will be able to transact most Village business, such as payroll, with only one signature (which in reality is our current practice) but will enhance internal control by requiring two se crate signatures on disbursements over$10,000. Since we will be revising the signature plates used to sign checks, the attached Facsimile Resolution must also be updated and approved. This document simply authorizes the bank to rely on facsimile signatures of the Village President, the Village Manager, or the Village Treasurer for the signing of checks as opposed to actually manually signing each and every check. Please feel free to contact me if you should have any comments or questions. 4. RESOLU110 X196-FI-FE'S-SA-R-677 A CORPORATE RES. 96-PI-FAC-N AUTHORIZATION RESQLjMON REVISING SIGNATURE R-677 PRO 'D I E; CORPORATE AUTHORIZATION The management letter issued by the Village's auditors as part of the RESOLUTION(Revising 1995 Audit noted that senie improvement in internal control over cash Signature disbursements could be gained by revising the Village's check signing Procedures) procedures. At the present time,two signatures are required for all disbursements and almost all checks are signed via a facsimile signature plate bearing the name of the Village President anti Village Treasurer. However,since this signature plate is always kept in the possession of the Treasurer,the Village has only a one-signer system. The Corporate Authorization Resolution revises the Village's current procedure by requiring only one signature on checks below$10,000 and two on all checks over$10,000. The Village will eliminate the signature plate that has two signatures and replace it with plates that only have one signature with each person keeping their own signature plate in their possession. By doing this,the Village will be able to transact most Village business,such as payroll,with only one signature but will enhance internal control by requiring two Separate signatures on disbursements over$10,000. Motion by Trustee Bartecki,seconded by Trustee McInerney, to pass Resolution 96-FI-FACS-SA-R-677,"Corporate Authorization Resolution",revising signature procedures,as presented and waive the full reading thereof. ROLL CALL VOTE: Ayes: 5 - Trustees Bartecki, Kenny, McInerney, Payovich and Savino. Nays: 0 - None. Absent: I - Trustee Shumate. Motion carried. 6 5. RESOLUTION 96-FI-FACS-SA-R-678 A RESOLUTION RES.96-FI-FAC-SA- AUTHORIZING FACSIMILE SIGNATURES: R-678 FACSIMILE Since the Vil_..ge will be revising the signature plates used to sign RESOLUTION checks, the Facsimile Resolution must also be updated and approved. This document simply authorizes the bank to rely on facsimile signatures of the Village President,the Village Manager, or the Village Treasurer for the signing of checks as opposed to actually manually signing each check. Motion by Trustee Bartecki, seconded by Trustee McInerney, to pass Resolution 96-FI-FACS-SA-•R-677, "Facsimile Resolution" as presented and waive the full reading thereof. ROLL CALL VOTE: VILLAGE OF OAK BROOK Minutes 6 of 14 September 24, 1996 �- 7r 11 1 Ayes: 5 - Trustees Bartecki,Kenny,McInerney,Payovich and Savino. Nays: 0 - None. Absent: 1 - Trustee Shumate. Motion carried. C. AWARD OF CONTRA(',TS: 1. 1997 PAVINQ PRQJECT ENGINEERING SERVICES: 1997 PAVING PROJECT - At the Village Board meeting of August 27, 1996,the Village Board ENGINEERING authorized staff to negotiate a contract with James J. Benes& SERVICES Associates,Inc. for professional engineering services for the 1997 Paving Project. Staff has been working with the consultant and an agreement is the culmination of those efforts. This agreement continues the recent practice of designing specifications rather than plan sheets for those streets that do not need reconstruction. This procedure saves approximately$55,500 on this project. This agreement has been reviewed by Village Attorney Martens and Purchasing Director Kapff and found acceptable as to form. A signed original,with appropriate revisions made, will be delivered on Monday. Motion by Trustee Payovich,seconded by Trustee McInerney, to approve the Agreement for Engineering Services with James J. Benes &Associates,Inc. for professional engineering services for the 1997 Paving Project in the not-to-exceed amount of$165,000.00 and authorize the Village President and Clerk to affix their signatures thereon. ROLL CALL VOTE: Ayes: 5 - Trustees Bartecki, Kenny, McInerney, Payovich and Savino. Nays: 0 - None. Absent: I - Trustee Shumate. Motion carried. D. ADOPTION OF 1997-2001 FIVE-YEAR FINANCIAL PLAN: 1997-2001 FIVE- YEAR FINANCIAL At the Committee-of-the-Whole meeting on September 9, 1996, the PLAN Board requested that the timing of proposed increases in the price of Golf Club memberships be adjusted somewhat and that the Capital Improvement Account in the Sports Core Fund contain a footnote regarding possible future expaiision of the golf course. The Board expressed a preference for"Scenario A"in the Infrastructure Fund, which would maintain the scope(A the utility tax as it presently exists. Revised pages reflecting these:;hanges are included in the 1997-2001 Five-Year Financial Plan. VILLAGE OF OAK BROOK Minutes 7 of 14 September 24, 1996 1�