HomeMy WebLinkAboutAssistant Treasurer Appointment
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
DISCUSSION:
ALTERNATIVES:
RECOMMENDED
MOTION:
ECONOMIC DEVELOPMENT AUTHORITY
AGENDA REPORT
March 22, 1999 ~
Frank Boyles, Executive Direct~1' ~
CONSIDER APPROVAL OF APPOINTMENT OF ASSISTANT
TREASURER.
History
The Economic Development Authority has designated Bob Jader as
Treasurer. The EDA Enabling Resolution and Bylaws provide that the
Treasurer is responsible for the "accounting, maintenance of books
and records, establishment and maintenance of funds and
accounts....". The Enabling Resolution also indicates that "the
Authority accounting, investment, fund maintenance and
disbursement shall be consistent with City procedures." The Bylaws
confirm these provisions. The Bylaws provide that City staff may
provide staffing services to the Economic Development Authority.
Finally, state law requires that the EDA Treasurer be bonded.
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State statute provides that the Economic Development Authority may
elect an assistant Treasurer who is not a member of the EDA. The
law also provides that the Authority may delegate one or more of its
agents or employees powers or duties as it deems proper.
Conclusion
In order to be in compliance with the EDA Enabling Resolution,
Bylaws and state statute, the Economic Development Authority
should appoint Finance Director Ralph Teschner as Assistant
Treasurer. Ralph is bonded and will maintain the books in accordance
with state law.
(1) Appoint Ralph Teschner as Assistant Treasurer.
Alternative (1). Motion and Second to appoint Ralph Teschner as
Assistant Treasurer for the Prior Lake Economic Development
Authority.
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