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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene, CFO |
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PRESENTER(S): |
Troy Bingham, Comptroller |
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TITLE:
title
R2022-04-02 - Resolution Granting General Expenditure and Disbursement Authority for Specific Part Inventory and Uniform Vendors
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Adopt Resolution 2022-04-02 which grants expenditure and disbursement authority to inventory vendors described in Exhibit A
BACKGROUND:
Board Policy 2.2 (III)(D)(3) allows the Board to preapprove disbursements to vendors by resolution.
Annually the Board, by resolution, preapproves disbursements for vendors related to inventory purchases as well as disbursements over $200,000 if the associated contract was previously approved by the Board.
These disbursements occur when the vendor has multiple purchase orders that do not individually exceed the $200,000 purchase threshold that required Board approval, but the payment of invoices on these individual purchase orders occur all at the same time. In these rare situations, Accounting would need to make a disbursement over $200,000.
DISCUSSION:
The list of approved vendors for disbursements over $200,000 are in Exhibit A in the resolution. These vendors were identified because UTA did business with their companies in 2021 that exceed $200,000 and could possibly do business in 2022 for a similar amount.
This resolution will allow the Authority to pay these vendors on a timely basis in 2022.
Staff will look into the possibility of large parts supply contracts for Cummins Sales and Services, Gillig Corporation, and Siemens Mobility Inc. in 2022 to mitigate the need for receiving post approval authority for disbursements from the Board in 2023.
ALTERNATIVES:
UTA would hold any disbursements over $200,000 for these vendors to a subsequent Board meeting thus delaying timely payments to vendors.
FISCAL IMPACT:
None
ATTACHMENTS:
R2022-04-02 - Granting General Expenditure and Disbursement Authority for Specific Part Inventory and Uniform Vendors