06.e Staff Report-Bank Signatories Staff Report
Date of Meeting: February 18, 2025
For: Mayor and City Council
From: Colleen Firkus, Treasurer
Subject: Changing Bank Signatories
Background: Whenever there is a personnel change in the positions of Mayor, City
Administrator, Clerk or Treasurer, the bank requires action by the City Council to name the new
bank signatories for that position. To streamline this process, the City Council can name the
signatories by position with a motion for the bank to have on file.
New staff will still need to sign new paperwork at the bank.
Options:
1) Move to name bank signatories by position to be on file at the bank.
2) Move to name bank signatories by individual names requiring future motions by
the City Council naming individuals.
Recommendation:
Option 1: Move that bank signatories are designated by position namely the Mayor, City
Administrator, Clerk, and Treasurer, for the bank to keep on file.