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RESOLUTION 045R-21
TITLE: RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES AND AUTHORIZED MUNICIPAL OFFICIALS TO SIGN CHECKS FOR DISBURSEMENT OF FUNDS FOR CALENDAR YEAR 2021
MOTION TO APPROVE BY: SAUICKIE
MOTION SECONDED BY: CHISHOLM
YES: BORRELLI, CHISHOLM, SAUICKIE, FLEMMING, KERN
WHEREAS, under the provisions of state regulations (N.J.S.A. 40A:5-1) entitled Local Fiscal Affairs Law, the Township of Jackson in accordance with N.J.S.A.40A:5-14 hereby establishes Legal Depositories for public monies for the calendar year 2021. Further, recent amendment to N.J.S.A. 40A:5-15.1 entitled “Securities, which may be purchased by local units” provide added flexibility to secure high yield investments while safe guarding municipal assets.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:
The following banks or institutions approved by the Department of Banking and Insurance under the Government Unit Depository Protection Act (GUDPA) or other authorized investment vehicles authorized by the State of New Jersey are hereby designated as official depositories of Township funds for the calendar year 2021:
New Jersey Cash Management
Ocean First Bank
Authorized signatories herewith described below are established by appointing Resolution and/or Salary Ordinance as approved by the Governing Body. Effective authority for authorized signatories will be established on or about January 5, 2021, nun pro tunc. Wire or electronic transfer of municipal funds for the purpose to meet payment obligations (Eg. investments, payroll, debt service, vendor, state & federal taxes) are hereby granted to the Chief Financial Officer or assistant subject to ratification by the Governing Body.
Disbursements from all checking accounts except as otherwise noted herein shall be signed by any two (2) of the following four (4) authorized individuals to include at minimum each check to bear one original signature. The Mayor and President of the Council may designate a facsimile signature as subject to approval:
Mayor, Michael Reina
President of the Council,
Municipal Administrator, Terence M. Wall
Chief Financial Officer, Sharon Pinkava
Authorized Checking Accounts:
| A. Current Fund | xxxxxxxx0013 |
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| B. Capital Fund | xxxxxxxx0021 |
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| C. Parks & Recreation | xxxxxxxx0047 |
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| D. Dog Fund | xxxxxxxx0062 |
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| E. Public Assistance | xxxxxxxx0070 |
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| F. Handicap Trust Fund | xxxxxxxx0138 |
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| G. General Trust Fund | xxxxxxxx0054 |
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| H. Payroll Account | xxxxxxxx0039 |
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| I. Open Space Trust Fund | xxxxxxxx0302 |
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| J. Affordable Housing 3rd Round | xxxxxxxx2571 |
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| K. Developers Fees-COAH Trust Fund | xxxxxxxx2589 |
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| L. Builders Escrow | xxxxxxxx1535 |
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| M. Capital (Investment Fund) | xxxxxxxx0768 |
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| N. Current (Investment Fund) | xxxxxxxx0750 |
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| O. Section 125 Trust | xxxxxxxx4247 |
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| P. Credit Card Clearing Account | xxxxxxxx4403 |
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| Q. Affordable Housing Rehabilitation Program | xxxxxxxx4411 |
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All disbursements from the Jackson Township “Tax Collector Trust” checking account (Account
Tax Collector, Michael Campbell
Chief Financial Officer, Sharon Pinkava