TO: AC Transit Board of Directors
FROM: Salvador Llamas, 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 no amendments.
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:
This policy is to promote the District’s financial control environment through specifying the persons who are authorized to approve a banking or investment transaction or account and providing guidelines for the appropriate signature authority. Staff has reviewed the policy and has determined that no updates are needed at this time.
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:
SR 23-451a 10/25/2023
ATTACHMENTS:
1. Board Policy 352
Prepared by:
Sue Lee, Director of Revenue Management
Approved/Reviewed by:
Chris Andrichak, Chief Financial Officer
Aimee L. Steele, General Counsel/Chief Legal Officer