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Report regarding a resolution authorizing the appointment of Deputy City Treasurer(s). (Frank Risso, City Treasurer and Janet Salisbury, Director of Finance)
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RECOMMENDATION
Recommendation
It is recommended that the City Council adopt a resolution approving the appointment of Deputy City Treasurer(s).
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BACKGROUND/DISCUSSION
On February 12, 2014, the City Council of South San Francisco adopted Resolution No. 11-2014 authorizing the appointment of a new Deputy City Treasurer and confirming the existing Deputy Treasurer. Those Deputy City Treasurers named in the resolution no longer work at the City.
The adoption of this resolution by City Council would ensure the continuity of the City’s Treasury operations, which includes cash and investment management functions. This resolution would tie the appointment of Deputy Treasurers to positions versus individuals, which would allow staff to streamline the administrative process of carrying out essential liquidity and investment transactions.
In approving this resolution, the City’s Director of Finance, would be a Deputy Treasurer. Moreover, this resolution would allow the appointment of any additional Deputy Treasurers to be handled administratively between the Director of Finance and the elected Treasurer going forward.
FISCAL IMPACT
There is no fiscal impact related to the adoption of this resolution.
RELATIONSHIP TO STRATEGIC PLAN
The adoption of this resolution would support the Financial Stability goal of the City’s Strategic Plan.
CONCLUSION
Approval of the attached resolution will confirm the City’s Deputy Treasurer and streamline the process of appointing Deputy Treasurer(s) going forward.