Consent 1.V.
Regular City Council Meeting
- Meeting Date:
- 06/25/2012
- TITLE
- Cancellation of Checks and Warrants
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
Information
PROBLEM/ISSUE STATEMENT
Finance annually reviews outstanding warrants and checks. Under state law MCA 7-6-4303, City Council has the authority to cancel municipal warrants and checks that have remained outstanding or unpaid for a period of one year or longer.
ALTERNATIVES ANALYZED
The Council may: Approve the cancellation of checks and warrants, or not approve the cancellation.
FINANCIAL IMPACT
The money amounts contained in the cancelled warrants and checks will revert to affected funds. Employees and vendors were notified and given the opportunity to pay the stop payment fee and have their checks reissued. The final cancellations may not exactly match the attachment because payees are still responding and checks that are reissued will not be canceled.
RECOMMENDATION
Staff recommends that Council authorize the cancellation of warrants and checks and receivable balances.