TO: Board of Trustees
THROUGH: Carolyn Gonot, Executive Director
FROM: William Greene, Chief Financial Officer
PRESENTER(S): Troy Bingham, Comptroller
TITLE:
title
Resolution R2021-04-01 Granting Contract and Expenditure Authority
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Adopt Resolution 2021-04-01 which grants expenditure and disbursement authority for designated vendors.
BACKGROUND:
Board Policy 2.2 (III)(D)(3) allows the Board to preapprove disbursements to vendors by resolution. At its April 8, 2020 meeting, the Board, by resolution, preapproved disbursements for 16 vendors covering disbursements related to payroll benefits and taxes, insurance, electricity, bond and lease principal and interest, and P-card purchases as well as disbursements over $200,000 if the associated contract was previously approved by the Board.
DISCUSSION:
The proposed action amends Resolution R2020-04-02 to update the process to approve contracts, expenses, and change orders, specifically updating the list of vendors and estimated disbursement levels. Current thresholds provide sufficient disbursement controls and allows the Authority to pay a major vendor on a timely basis.
ALTERNATIVES:
UTA would hold any disbursement over $200,000 for subsequent Board meetings thus delaying timely payments to vendors.
FISCAL IMPACT:
None
ATTACHMENTS:
1. Resolution R2021-04-01