Approve the Chief Financial Officer (in his role as County Treasurer) to open a new bank account to support the operations of the Wild Wings County Service Area Golf Course and affirm entity resolutions in the banking agreement. (No general fund impact) (Rinde) 

The County of Yolo, through the County Service Areas team in the Community Services Department, manages the Wild Wings County Service Area (CSA). The Wild Wings County Service area includes operation of the Wild Wings Golf Course which is owned by the CSA. At the Board of Supervisors December 6, 2022 meeting, the Board approved an agreement with a new third party operator for the golf course, The Management Trust, who started their agreement effective January 1, 2023 (County Agreement No. 22-273; Minute Order No. 22-127). The County has long retained a bank account to allow the operator of the golf course to deposit the revenues generated from the facility as well as pay payroll and other expenditures of the course pursuant to the terms of the golf course management agreement. This account has historically been with US bank, however, in Section 3.5.2 of the Management Trust Agreement, the County agreed to establish an additional account as the Operating Expense Account separate from the current deposit account. 

The Management Trust has requested that the County establish an account with Western Alliance Bank that will allow them to most efficiently manage the operations of the golf course and the County will retain the right to the funds as well as the ability to update signors on the account periodically. Management Trust will request periodic replenishment of the account as well as provide full visibility through access and monthly reporting of expenditures occurring through the account and related to the operations of the golf course.

While the County Treasurer has the legal authority to open accounts as needed for County business, Western Alliance Bank requires specific approval to open the account by the Governing Body and to affirm certain resolutions within the account agreement. As a result, staff is requesting the Board to approve the Chief Financial Officer to open a new bank account for the Wild Wings CSA golf course and to affirm the resolutions set forth in the attached excerpt from the Western Alliance agreement (Attachment A). 

The Department of Financial Services has collaborated with the County Service Area manager within the Department of Community Services, County Counsel, and the current vendor The Management Trust who operates the Wild Wings golf course under contract for the County.