The Finance Department 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.  Vendors, City employees and former employees  were notified that they had outstanding checks and were given the option to pay the stop payment fee of $13 to have a check reissued.

The Council may:

• Approve cancelling outstanding checks and warrants, or
• Disapprove cancelling the checks and warrants.

The money amounts contained in the canceled 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 cancelations may not exactly match the attachment, because payees are still responding and checks that are reissued will not be canceled.

Staff recommends that Council authorize cancelling outstanding checks and warrants and receivable balances.