The City of Loveland does hereby establish the following signatory policy:
(a) The Director of Finance, City Manager, Assistant Finance Director, and Clerk of Council are authorized to serve as Signatories for all City accounts. To open or close City bank accounts shall require two authorized signatories.
(Ord. 2019-80. Passed 9-10-19.)
(b) City issued disbursements of less than one thousand dollars ($1,000) or payroll checks shall require the City Manager’s signature only, or one of the three other authorized signatories in the City Manager’s absence.
(c) City issued disbursements in excess of one thousand dollars ($1,000) shall require two authorized signatories.
(d) Wire transfer of City funds shall require two authorized signatories.
(e) Accounts opened for investment of excess City funds shall require two authorized signatories and direction from the City’s investment advisory board.
(Ord. 2012-24. Passed 3-27-12.)