To: Martin L. Cousineau, Finance Committee Chairperson
From: Deborah L. Cherry, Treasurer
title
RE: Approval to Amend the Cash Management Policy
recommendation
BOARD ACTION REQUESTED:
Approval to amend the current Cash Management Policy of Genesee County
BACKGROUND:
In October 2019, the Board of Commissioners passed the current cash management policy to set the guidelines to safely handle the cash of Genesee County. Some of the areas covered in the policy are receipting of County funds, banking activities and imprest (petty) cash.
DISCUSSION:
After reviewing the current policy, it was determined an amendment was needed to include the current cash handling policy, previously passed by the Board, as the current policy does not address cash handling at off-site Park facilities. The amendment reflects changes in titles, such as Controller to Chief Financial Officer, as well as strengthening other guidelines for departments.
IMPACT ON HUMAN RESOURCES:
N/A
IMPACT ON BUDGET:
N/A
IMPACT ON FACILITIES:
N/A
IMPACT ON TECHNOLOGY:
N/A
CONFORMITY TO COUNTY PRIORITIES:
The cash management policy ensures departments are following policy and safely handling the cash of Genesee County to assist with the County’s priority of Long Term Financial Stability.
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF THE GENESEE COUNTY BOARD OF COMMISSIONERS, GENESEE COUNTY, MICHIGAN
LADIES AND GENTLEMEN:
BE IT RESOLVED, by this Board of County Commissioners of Genesee County, Michigan, that the request by the Genesee County Treasurer to authorize approving the attached amendment to the Genesee County Cash Management Policy is approved (a copy of memorandum request, amended policy, and supporting documents being on file with the official records of the April 17, 2024 meeting of the Finance Committee of this Board).