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Home My WebLink AboutReg 2014-06-02 Item 4F - Resolution - Change Fund and Petty Cash Fund Levels for Finance DepartmentCOUNCIL AGENDA SYNOPSIS Meal ng. Date Prepared by Ala or's review Gained review 06/02/14 PMC , ... Ordinance Mt Date 0 Bid Award Aft ,Dale E Public Hearing illtsDale Other Mtg Date SP ONS( )R 7 Council Mayor FIR IT P '1 Police P117 DCD Finance lire SPONSOR'S Adopt Resolution increasing the Finance department change fund levels and decreasing the SUMMARY Finance department petty cash fund level and repealing Resolution No. 1824 RiNIEWED BY COW Mtg. _ CA&P Cmte El F&S Cmte Transportation Cmte Utilities Cmte Arts Comm. Parks Comm. Planning Comm. DATE: 05/20/14 COMMITTEE CHAIR: SEAL RECOMMENDATIONS: SPoNsoR/ADmiN. COMMFF1IK Finance Unanimous Approval, Forward to 6/2 Consent Agenda COST IMPACT / FUND SOURCE ITEM INFORMATION ITEM No. 4.F. 91 STAFF SPONSOR: PEGGY MCCARTHY ORIGINAL AGENDA DATE: 06/02/14 Ac;;,:NDA PrEmTyrim: Resolution increasing the Finance department change fund levels and decreasing the Finance department petty cash fund level CATI(;( n' Dioission /11/,g Date motion Mt Dale Eg Resolution AN Dale 06/02/14 Ordinance Mt Date 0 Bid Award Aft ,Dale E Public Hearing illtsDale Other Mtg Date SP ONS( )R 7 Council Mayor FIR IT P '1 Police P117 DCD Finance lire SPONSOR'S Adopt Resolution increasing the Finance department change fund levels and decreasing the SUMMARY Finance department petty cash fund level and repealing Resolution No. 1824 RiNIEWED BY COW Mtg. _ CA&P Cmte El F&S Cmte Transportation Cmte Utilities Cmte Arts Comm. Parks Comm. Planning Comm. DATE: 05/20/14 COMMITTEE CHAIR: SEAL RECOMMENDATIONS: SPoNsoR/ADmiN. COMMFF1IK Finance Unanimous Approval, Forward to 6/2 Consent Agenda COST IMPACT / FUND SOURCE EXPENDITURE, REQUIRID AMOUNT BUDGETED APPROPRIATION REQUIRED $0 $0 $0 Fund Source: Comments: MTG. DATE RECORD OF COUNCIL ACTION 06/02/14 MTG. DATE ATTACHMENTS 06/02/14 Informational Memorandum dated 05/13/14 Resolution in Draft Form Minutes from the Finance and Safety Committee meeting of 05/20/14 91 92 TO: City of Tukwila Jim Haggerton, Mayor INFORMATIONAL U��U�^��U� nn�n ��nan�n��n ox��nm�m�~ nmn�~n�nv^�mn��nm��wn�n Mayor Haggerton Finance & Safety Committee FROM: Peggy McCarthy, Finance Director BY: Vicky Carlsen, Deputy Finance Director DATE: May 13, 2014 SUBJECT: Resolution changing the Finance Change Fund levels and the Finance Petty Cash Fund level ISSUE Approve Resolution authorizing an increase in the Finance Change Fund levels and @decrease in the Finance Petty Cash Fund. BACKGROUND The change fund and petty cash fund needs in the Finance department have changed since the implementation of PCards for most of the City's purchasing. Additiona|k/, more utility customers are paying their utility bilis with large currency bills. Both the change funds and petty cash fund limits have not been changed for several years. DISCUSSION Both change funds in the Finance department need to be increased. More citizens are paying their utility invoices with large bills ($50s and $100s) using up the existing change funds of $100 each before the day has ended. On many uucasions, by the sfternoon, there is not enough small bills and change Ieft for those that pay their accounts later in the day. Increasing both change funds to the proposed levels of $300 for the general fund and $400 for the water fund will provide a Iarge enough bank for change to be made throughout the day. With the use of PCards for most City purchases, the use of petty cash, while not completely eliminated, has decreased significantly. Reducing the petty cash fund by $500 will still leave $300 available for small, incidental purchases by those that do not have City issued PCards. RECOMMENDATION Council is being asked to approve the resolution authorizing an increase in the Finance Change Funds and a decrease in the Finance Petty Cash Fund and forward this item on the Consent Agenda at the June 2, 2014 Regular Meeting. ATTACHMENTS Draft Resolution 94 DRAFT A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, INCREASING THE FINANCE DEPARTMENT CHANGE FUND LEVELS AND DECREASING THE FINANCE DEPARTMENT PETTY CASH FUND LEVEL, AND REPEALING RESOLUTION NO. 1824. WHEREAS, the Tukwila City Council previously established Change Fund and Petty Cash Fund levels by Resolution No. 1824, passed on May 5, 2014; and WHEREAS, there is a need to modify the Change Fund levels and Petty Cash Fund level for the Finance Department due to operational needs; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. The Change Fund levels are hereby set as follows: Finance Department General Fund 000 $100.08 300.00 Finance Department Water Fund 401 -00.00 400.00 City Clerk's Office General Fund 000 100.00 Seattle Southside Visitor Center Hotel /Motel Tax Fund 101 100.00 Municipal Court General Fund 000 300.00 Parks and Recreation General Fund 000 350.00 Golf Course Foster Golf Course Fund 411 1,200.00 (or less as needed) W: \Word Processing \Resolutions \Revise Fund Levels for Finance 5 -12 -14 VC:bjs Page 1 of 2 95 Section 2. The Petty Cash Fund levels are hereby set as follows: Finance Department General Fund 000 $800.00 300.00 Police Investigation/Tukwila General Fund 000 10,000.00 Fire Department General Fund 000 350.00 Parks and Recreation General Fund 000 300.00 Public Works Division I General Fund 000 350.00 Section 3. Resolution No. 1824 is hereby repealed. PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at a Regular Meeting thereof this day of , 2014. ATTEST /AUTHENTICATED: Christy O'Flaherty, MMC, City Clerk De'Sean Quinn, Council President APPROVED AS TO FORM BY: Filed with the City Clerk: Passed by the City Council: Resolution Number: Shelley M. Kerslake, City Attorney W: \Word Processing \Resolutions \Revise Fund Levels for Finance 5 -12 -14 VC:bjs 96 Page 2 of 2 City of Tukwila Finance and Safety Committee FINANCE AND SAFETY COMMITTEE Meeting Minutes May 20, 2014 — 5:30 p.m.; Hazelnut Conference Room PRESENT Councilmembers: Dennis Robertson (Acting Chair, for Verna Seal); Joe Duffie, Kathy Hougardy Staff: David Cline, Jennifer Ferrer, Laurel Humphrey CALL TO ORDER: Acting Committee Chair Robertson called the meeting to order at 5:30 p.m. I. PRESENTATIONS No presentations. II. BUSINESS AGENDA A. Resolution: Authorizing Investment in the Washington Local Government Investment Pool Staff is seeking Council approval of a resolution that would authorize investment of surplus City funds in the Washington State Local Government Investment Pool (LGIP). The State Treasurer published a prospectus in January 2014, outlining the purpose of the LGIP and its strategies, risks, earnings, distributions, and management. Governing bodies of all participating agencies must pass an updated resolution acknowledging receipt and understanding of the prospectus. Staff confirms that the LGIP continues to be a good investment tool for surplus funds. UNANIMOUS APPROVAL. FORWARD TO JUNE 2, 2014 REGULAR CONSENT AGENDA. B. Resolution: Changing the Finance Department Petty Cash and Change Fund Levels Staff is seeking Council approval of a resolution that would modify the Finance Department's Change Funds and Petty Cash Fund in response to changing needs. Both of the Change Funds need to be increased due to more residents paying utility invoices with large bills. It is not unusual for staff to encounter change shortages later in the day as a result. The Petty Cash Fund can be reduced due to the implementation of the City's PCard purchasing program that allows designated employees to use a credit card for City expenses. The requested changes are as follows: • Change Fund — General: Increase from $100 to $300 • Change Fund — Water: Increase from $100 to $400 • Petty Cash: Decrease from $800 to $300 UNANIMOUS APPROVAL. FORWARD TO JUNE 2, 2014 REGULAR CONSENT AGENDA. III. MISCELLANEOUS Meeting adjourned at 5:38 p.m. Next meeting: Tuesday, June 3, 2014 — 5:30 p.m. — Hazelnut Conference Room Acting Committee Chair Approval Minutes byLH 97