TURA Regular Meeting


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Meeting Date: 07/08/2020  

Information
Subject:
TURA Financial & Banking Changes - Discussion and potential action
Background:
With so many changes in the past few months and more changes to come it is time to have a discussion on how to handle the bank authorizations.  Each bank has its own requirements and process for changes and the majority of time only authorized signers are able to make changes and review account balances and information.  

TLC, for instance, would not allow me to change the address of the agency account back to the original address.  With a bit of whining (from me), one of the local branch staff did manage to change the address.  They are now requesting a copy of minutes or a letter from the Board pertaining to Paul's removal as Agency Administrator and the appointment of a new Administrator.  The Board may want to consider leaving Paul on the TURA accounts as City Manager for the time being for any City participation in the financial aspects of the Agency.  Oregon Coast Bank and US Bank also have strict limitations on who is authorized to review, change, and discuss account information.
Recommendation:
If the Board appoints me as the new Agency Administrator, I would like to have authorization to review and make changes as necessary to the TURA bank accounts.  The Board would need to make a motion for this to be done and I would become an authorized signer on these accounts.  The accounts require two signatures for checks issued but I will not be signing checks.  I understand the need for oversight by the Auditors and am sure we can work out the possibly having one of the Board members review the bank statements on a monthly basis to satisfy the oversight.

I would also like the Board to consider obtaining a credit or debit card from US Bank in order to make any nominal purchases (office supplies, food, flowers, etc.) for the Agency and not have to run purchases through the City's books.  I am requesting this credit card be issued from US Bank as this is the account we use for paying the regular agency bills.  All statements can all be reviewed by the Board for oversight.
Motion:
1) Possible motion: To add Debbi Reeves as an authorized signer to the existing TURA bank accounts at US Bank, TLC Fibre Federal Credit Union, and Oregon Coast Bank.  
2) Possible motion: To authorize an Agency credit/debit card from US Bank.  
3) Possible motion: To remove Paul Wyntergreen as an authorized signer of TURA bank accounts.

    

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