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AGENDA ITEM <br />Prepared By: RJO Reviewed By: DJR Approved By: DJR <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />1. Purpose. The purpose of this action item is to add Maggie Ung, the City’s Accountant as an <br />authorized signer to the city’s brokerage account with UBS. <br /> <br />2. Background. The City currently has four investment brokers that it uses to invest funds not <br />immediately required for operating expenditures. The Finance Director is responsible for maintaining the <br />investment portfolio. In order to ensure that that the City has ready access to its available funds, the <br />Accountant is given authority to make investment decisions in situations where the Finance Director is <br />unavailable. UBS requires the adoption of a resolution to add an authorized signer to the account. <br /> <br />3. Cost. There is no cost associated with this action. <br /> <br />4. Staff Recommendation. Staff recommends approval of the of the Resolution Approving UBS’s <br />Corporate Resolutions. <br /> <br />COUNCIL ACTION REQUESTED <br /> <br />Motion to approve a Resolution Approving the UBS Corporate Resolution. <br /> <br />Exhibits <br />A. Resolution Approving the UBS Corporate Resolution. <br />B. UBS’s Corporate Resolution. <br />Item No.: 13 Date: February 25, 2019 <br />Item Description: Adoption of a Resolution Approving UBS Corporate Resolutions <br />Presenter: Ron Olson <br />Finance Director <br />Agenda <br />Section: <br />Consent Agenda <br />