Resolution #12-07: Resolution of the Vernon Township Municipal Utilities Authority Regarding Authority to Spend Funds and Check Signing

Date of Adoption: July 16, 2012

WHEREAS, the Vernon Township Municipal Utilities Authority is in need of a formal policy with respect to the authority to spend funds for the routine costs of the VTMUA’s activities, operating, maintaining and repairing the municipal sanitary sewer system;

WHEREAS, the Vernon Township Municipal Utilities Authority is in need of a formal policy regarding the signing of checks;

WHEREAS, the Vernon Township Municipal Utilities Authority has considered this issue in an effort to have the most efficient operations;

NOW THEREFORE IT BE RESOLVED that the Chairman of the Vernon Township Municipal Utilities Authority is permitted to authorize routine expenditures of less than $500 without formal authority review provided that every expenditure or a complete checklist be approved at the next regularly scheduled meeting of the Vernon Township Municipal Utilities Authority.

NOW THEREFORE IT BE FURTHER RESOLVED that all checks of the Vernon Township Municipal Utilities Authority of less than $500 shall only require the signature of the Chief Financial Officer. All checks in excess of $500 will require two signatures. One of the signatures must always be the Vernon Township Municipal Utilities Authority CFO. The other signature can be the Chair, Vice Chair or Treasurer.

NOW THEREFORE IT BE FURTHER RESOLVED that the Clerk of Board shall keep this resolution in a binder with the adopted Rules and Regulations as an official record of the VTMUA.