The following guidelines should be used whenever EFT (Electronic Funds Transfer), ACH (Automated Clearing House), OBG (Ohio Business Gateway) or on-line banking is initiated or received:
(a) Only the Village Fiscal Officer or the Assistant Fiscal Officer may initiate or record any electronic transactions. Electronic transactions may include, but are not limited to, recurring receipts from the State of Ohio or the County Auditor, payment of payroll, payroll withholdings, recurring charges such as monthly health insurance premiums (currently thru Anthem), BWC and ODJFS fees, bank charges and fees, and automatic payment (deduction) of resident monthly utility bills.
(b) All electronic transactions will be reviewed and approved by the Finance Committee at least monthly. Reconcilement of electronic transactions will be performed by the Fiscal Officer or the Assistant Fiscal Officer at least monthly. After reconcilement, the Finance Committee and full Council will review and approve all payments and reconcilement reports.
(c) On-line Banking: On-line transactions consisting of transfer of funds between accounts at the same depository institution are acceptable. An example would be transferring funds from the Village of Gibsonburg checking account to a Village of Gibsonburg savings account or vice versa.
(d) The Village will accept receipt of funds by direct deposit when required by the payer. Example of this include funds received from the Office of Budget and Management, Sandusky County Auditor, Ohio Business Gateway, and resident’s utility bill and tax credit card payments.
(e) All non-payroll EFT transactions should be reviewed and approved by the Finance Committee prior to set-up and starting any automatic payment or automatic deduction.
(f) Receiving billing notices or statements by e-mail do not require prior approval unless they are also being set up for automatic payment. E-mailed notices must still be approved by the initiator of the transaction regardless of type of payment.
(Ord. 17-2017. Passed 11-2-17.)