Finance annually reviews outstanding checks and warrants. Under state law MCA 7-6-4303, City Council has the authority to cancel municipal checks and warrants that have remained outstanding or unpaid for a period of one year.

The Council may:

• Approve the cancellation of checks and warrants, or
• Disapprove the cancellation of checks and warrants.

The money amounts contained in the cancelled checks and warrants 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 cancelled.

Staff recommends that Council authorize the cancellation of checks and warrants and receivable balances.