HomeMy WebLinkAboutC.054.93009_0027012
MAP
Section 7.
The following procedures are hereby established
and shall be incorporated in the cash
disbursements section of the County's cash
management plan:
(1)
All checks, drafts, or orders of this unit drawn
against said funds shall be signed by the director
of finance and countersigned by one of the
following: Chairman, Iredell County Board of
Commissioners; vice -Chairman, Iredell County Board
of Commissioners; or County Manager. The names
and signatures of the officers shall be duly
certified by the clerk to the board to said
depositories from time to time.
(2)
The method in which appropriations and other
available resources are expended shall be
performed pursuant to G.S. 159-28(b).
(3)
Billings to the county for goods received or for
services rendered shall not be paid early or late,
but on the discount date or the due date to the
extent practicable.
(4)
The director of finance shall establish a system
of inventory to insure that stocks will remain
at levels necessary to conduct business without
being excessive.
(5)
The director of finance will consolidate all
payments to a particular vendor, rather than
issuing separate checks for each billing to
the extent practicable.
(6)
A cost effective disbursement cycle shall be
established to crate the maximum amount of
investable funds while at the same time
insuring all bills are paid by their due date.
The disbursement cycle shall be reviewed
periodically by the director of finance and
changes shall be instituted when appropriate.
Section 8.
The following procedures are hereby established
in the banking relations
and shall be incorporated
section of the Cash Management plan:
(1)
The director of finance will maintain the minimum
number of bank accounts for official operation.
(2) The director of finance shall maintain in the
County's accounts enough moneys to meet the
County's daily obligations.
(3) An official depository shall be selected based on
a competitive proposal. A Request for Proposal
for Banking Services shall be submitted to those
financial institutions within close proximity to
finance office. The selection process will be
carried out every three years. The director of
finance will determine that institutions
offering proposals are financially sound based
on a comprehensive analysis of the institutions'
financial positions. The director of finance
shall recommend an official depository to the
Board based on the evaluation of the proposals.
Evaluations will be based on the institution's
ability to provide all services as required by
the County efficiently and at a reasonable cost,
previous experience, references, and savings in
excess of the cost of changing banking
institution.