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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Voila Miller, Chief Financial Officer |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer |
TITLE:
title
R2023-11-03 - Resolution Amending General Expenditure and Disbursement Authority to Non-Inventory Vendors
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Adopt Resolution 2023-11-03 which grants expenditure and disbursement authority to non-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 payroll, utilities, government, and debt payments, as well as disbursements over $200,000 if the associated contract was previously approved by the Board.
These disbursements fall into one of the following situations:
• The vendor is a payroll vendor that may require disbursements over $200,000 depending on employee elections of benefits, tax rates, or garnishments.
• The vendor is a utility exempt from procurement but requires payment based on usage that can vary throughout the year.
• The vendor is a government entity we have a contract with for services, but the pricing was not defined in the contract.
• The vendor is part of debt obligations and promissory agreements that sometimes require payment over $200,000.
DISCUSSION:
Staff has been reviewing disbursements over $200,000 and discovered a new vendor for 2023. HealthEquity is the administrator of the Health Saving Accounts (HSA) that employees use as an option to fund expenses associated with a high deductible health savings plan.
With the addition of a new HSA benefit option in 2023, we need to request additional disbursement authority originally granted in April in Resolution R2023-04-08. This new resolution adds Health Equity Inc with an authorized disbursement of $1.1 million to the list of authorized expenditures and disbursements for 2023.
This resolution provides sufficient disbursement transparency and allows the Authority to pay these vendors on a timely basis.
ALTERNATIVES:
UTA would hold any 2023 disbursements over $200,000 for vendors to a subsequent Board meeting for an approval, thus delaying timely payments to vendors.
FISCAL IMPACT:
The disbursement authorization for Health Equity represents employee contributions through payroll withholdings that will be transferred to their individual HSA accounts, resulting in no fiscal impact to UTA’s budget or fund balance. All other granted expenditures and disbursements are consistent with the prior resolution approved in April 2023.
ATTACHMENTS:
R2023-11-03 - Granting General Expenditure and Disbursement Authority to Non-Inventory Vendors