Resolution #13-35: Resolution Adopting Purchasing and Cash Management Policies

Date of Adoption: August 22, 2013

WHEREAS, the VTMUA has a need for a purchasing policy as well as a cash management policy;

WHEREAS, the VTMUA has entered into a Shared Services Agreement with the Vernon Township Finance Office;

WHEREAS, Vernon Township has well-developed purchasing policies and a cash management policy that is followed by the Finance Office in fulfilling the Shared Service Agreement;

WHEREAS, it would be redundant to create a duplicative policy;

WHEREAS, the Commissioners of the VTMUA believe that it is in the best interest of the Authority to follow the purchasing policy and the cash management policy adopted by Vernon Township;

NOW THEREFORE IT BE RESOLVED by the Commissioners of the Vernon Township Municipal Utilities Authority that the Authority hereby adopts the purchasing policy and cash management policy as adopted by Vernon Township and as amended in the future until further resolution.