Resolution - 23-10: Electronic Funds Transfer CITY OF SPRING PARK
SPRING PARK, MINNESOTA
RESOLUTION #23-10
ELECTRONIC FUNDS TRANSFER
WHEREAS, Minnesota Statutes, section 471.38, Claims, states that cities may use the
electronic funds transfer process to pay claims for payment via mechanical means without the
use of checks, drafts, or similar negotiable instruments, and;
WHEREAS, a local government may make electronic funds transfers for the following:
(1) a claim for a payment from an imprest payroll bank account or investment of excess
money.
(2) a payment of tax or aid anticipation certificates.
(3) a payment of contributions to pension or retirement fund.
(4) vendor payments; and
(5) payment of bond principal, bond interest and a fiscal agent service charge from the
debt redemption fund.
WHEREAS, this authorization only extends to a local government that has enacted all of the
following policy controls:
(a) the governing body shall annually delegate the authority to make electronic funds
transfers to a designated business administrator or chief financial officer or the officer's
designee.
(b) the disbursing bank shall keep on file a certified copy of the delegation of authority.
(c) the initiator of the electronic transfer shall be identified.
(d) the initiator shall document the request and obtain an approval from the designated
business administrator, or chief financial officer or the officer's designee, before
initiating the transfer as required by internal control policies.
(e) a written confirmation of the transaction shall be made no later than one business
day after the transaction and shall be used in lieu of a check, order check or warrant
required to support the transaction.
(f) a list of all transactions made by electronic funds transfer shall be submitted to the
governing body at its next regular meeting after the transaction.
NOW, THEREFORE, BE IT RESOLVED, that the following designated City staff are
hereby authorized to use electronic funds transfer as a means for payment of claims for the
City of Spring Park:
• City Administrator
• Finance Clerk
ADOPTED by the City Council of the City of Spring Park this 17th day of January 2023.
CITY OF SPRING PARK
Approv
U/
Jerome P. Rockvam, Mayor
Attest:
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