TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: BP 352- Payment of Expenditures: Signature Authorization
BRIEFING ITEM
AGENDA PLANNING REQUEST: ☐
RECOMMENDED ACTION(S):
Title
Consider a review of Board Policy No. 352- Payment of Expenditures: Signature Authorization with minor updates. [ITEM HAS BEEN PULLED OFF THE AGENDA]
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Financial policies shall be reviewed on a routine basis.
BUDGETARY/FISCAL IMPACT:
There is no budgetary or fiscal impact associated with this report.
BACKGROUND/RATIONALE:
The applicable policy documents are attached for reference. The staff has reviewed the policy and has determined that referencing banking partners by function instead of specific bank names would better serve the purpose of the policy.
ADVANTAGES/DISADVANTAGES:
This report does not recommend a course of action with notable advantages or disadvantages.
ALTERNATIVES ANALYSIS:
Staff found no practical alternatives to the course of action recommended in this report.
PRIOR RELEVANT BOARD ACTION/POLICIES:
None
ATTACHMENTS:
1. Board Policy 352 - updated
Prepared by:
Sue Lee, Director of Revenue Management
Approved/Reviewed by:
Chris Andrichak, Chief Financial Officer
Jill A. Sprague, General Counsel/Chief Legal Officer
Linda A. Nemeroff, Board Administrative Officer/District Secretary