HomeMy WebLinkAbout20080505 - VI-04
MEMO
TO:
FROM:
RE:
DATE:
Honorable Mayor and City Council members
Charlene A. Stark, Finance Director
Budget Adjustments and transfers
May 1, 2008
The recycling program received additional grant funds in 2008. This request is to increase the
recycling budget by the $3,300 additional fund received. The plans are to purchase recycling
stations for the volunteer conference room and lobby.
The finance department has $5,000 in it's ERF account for future software purchases. I would
like to purchase software that would stop possible fraudsters of defrauding the city by cashing
unauthorized checks. The software is called positive pay and it creates a checks and balance for
the city with the city's bank account.
The way it works is that a file is created with the software and sent to the bank after every check
run. The file contains information on the authorized checks that have been issued by the city.
Checks being presented for payment are verified against this file by the bank and if they match
what is on the file they are paid. If the check does not match the city is contacted by the bank and
asked to authorize the check or request the check to be stopped. The check will not be cleared
unless staff authorizes. Thus a check being presented that is not authorized would be stopped
before any money changes hands.
Council Action Requested:
Approve the above budget adjustments and transfers.
City of Hastlre:; · 101. Founn Street East · HaS-MeS. MN 55033.1955 · 0:651.480-2350 · f:651.43,-4082 . \WM.(.l hastln~~mn.if:>