HomeMy WebLinkAbout5.11 Update Designation of Positions Authorized to Approve Local Agency Investment Fund TransactionsSTAFF REPORT
CITY COUNCIL
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Agenda Item 5.11
5.11
DATE: June 3, 2025
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: Update Designation of Positions Authorized to Approve Local Agency
Investment Fund Transactions
Prepared by: Wendy Lam, Accounting Manager
EXECUTIVE SUMMARY:
The City Council will consider a resolution updating the City’s designation of positions
authorized to approve fund transactions with the Local Agency Investment Fund.
STAFF RECOMMENDATION:
Adopt the Resolution Updating the Designation of Positions Authorized to Approve Local
Agency Investment Fund Transactions.
FINANCIAL IMPACT:
None.
DESCRIPTION:
The Local Agency Investment Fund (LAIF) is a voluntary investment program for California
local governments administered by the California State Treasurer. The City of Dublin has used
LAIF since 1982 to take advantage of pooled investing while managing the City’s cash flow
needs.
On June 20, 2023, the City Council approved changes to the City’s Personnel System which
included updating the title of Administrative Services Director to Finance Director. Additionally,
on September 5, 2023, the position of Accounting Manager was added to the City’s
Classification Plan.
The list of positions authorized to conduct transactions with LAIF must be revised via formal
action by the City Council to align with the City’s Personnel System. The changes are outlined
below.
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Current Position Updated Position
Administrative Services Director Finance Director
Finance Manager Accounting Manager
City Manager No Change
Assistant City Manager No Change
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) Resolution Updating the Designation of Positions Authorized to Approve Local Agency
Investment Fund Transactions
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Attachment 1
Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 1 of 2
RESOLUTION NO. XX – 25
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
UPDATING THE DESIGNATION OF POSITIONS AUTHORIZED TO APPROVE
LOCAL AGENCY INVESTMENT FUND TRANSACTIONS
WHEREAS, the Local Agency Investment Fund is established in the State Treasury under
Government Code section 16429.1 et. seq. for the deposit of money of a local agency for purposes
of investment by the State Treasurer; and
WHEREAS, the City Council hereby finds that the deposit and withdrawal of money in the
Local Agency Investment Fund in accordance with Government Code section 16429.1 et. seq. for
the purpose of investment as provided therein is in the best interests of the City of Dublin; and
WHEREAS, Resolution 12-82 authorized the deposit and withdrawal of the City of Dublin
monies in the Local Agency Investment Fund in the State Treasury in accordance with
Government Code section 16429.1 et. seq. for the purpose of investment as provided therein; and
WHEREAS, Resolution 26-07 authorized and designated the incumbents in the positions
of City Manager, Assistant City Manager, Administrative Services Director, and Finance Manager
to order the deposit and withdrawal of the City of Dublin monies in the Local Agency Investment
Fund; and
WHEREAS, the City Council approved changes to the Personnel System in June and
September of 2023, changing the Administrative Service Director to Finance Director and
Assistant Director of Administrative Services to the Accounting Manager, respectively, requiring a
change in the authorized positions for the Local Agency Investment Fund .
NOW, THEREFORE, BE IT RESOLVED that the City Council hereby updates the City’s
designation of authority for the deposit and withdrawal of the City of Dublin monies in the Local
Agency Investment Fund in the State Treasury in accordance with Government Code section
16429.1 et. seq. for the purpose of investment as provided therein.
BE IT FURTHER RESOLVED, as follows:
Section 1. The following City of Dublin officers holding the title(s) specified hereinbelow or their
successors in office are each hereby authorized to order the deposit or withdrawal of monies in
the Local Agency Investment Fund and may execute and deliver any and all documents necessary
or advisable in order to effectuate the purposes of this resolution and the transactions
contemplated hereby:
Colleen Tribby
City Manager
Jeff Baker
Assistant City Manager
Jay Baksa
Finance Director
Wendy Lam
Accounting Manager
Section 2. This resolution shall remain in full force and effect until rescinded by the City Council
by resolution and a copy of the resolution rescinding this resolution is filed with the State
Treasurer’s Office.
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Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 2 of 2
PASSED, APPROVED AND ADOPTED this 3rd day of June 2025, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
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