Resolution #16-10: Regarding the Authority to Spend Funds and Sign Checks

Date of Adoption: February 18, 2016

WHEREAS, the Vernon Township Municipal Utilities Authority is in need of a formal policy with respect to the authority to spend funds for routine costs of the VTMUA’s activities such as 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 BE IT RESOLVED that the chairman of the Vernon Township Municipal Utilities Authority is permitted to authorize routine expenditures of less than $500.00 without formal authority review provided that every expenditure or a complete checklist be approved at the next regular meeting of the Vernon Township Municipal Utilities Authority.

NOW THEREFORE BE IT RESOLVED that all checks of the Vernon Township Municipal Utilities Authority less than $500.00 shall require the signature of the chief financial officer. All checks in excess of $500.00 will require two signatures. One of the signatures must always be the Vernon Township Municipal Utilities Authority CFO. The other signature can be the chairman, vice chairman, or the treasurer.

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