Laserfiche WebLink
30 <br /> <br />• If not specifically approved beforehand, a list of all electronic fund transfers shall be <br />submitted to the City Council at the next regular City Council Meeting following <br />the transfer. <br /> <br />Vendor Payment Verification <br />• Written confirmation of each electronic funds transfer shall be available within <br />one business day of each transaction. <br /> <br />• Additional processes: <br />o Conduct an annual review of vendors <br />o Remove duplicate vendors <br />o Inactivate old or unused vendors <br />o Review for unusual activity, such as fluctuation in payment amounts and <br />activity for inactive vendors <br />o A signed Form W-9 is required for every new payee before making any <br />payments or changing a mailing address. This can be confirmed online or <br />directly with the IRS. <br /> <br />VI. Payroll <br /> <br />Direct Deposit Authorization Form <br /> <br />• All employees must complete a Direct Deposit Authorization form upon <br />employment. <br /> <br />• This form will be entered and reviewed by the HR Director and Accountant. <br /> <br />• Any changes an employee requests must be submitted to the HR. The HR must then <br />make a follow-up phone call to verify the employee's identity and that the change was <br />initiated by the employee. <br /> <br />Payroll Payments <br /> <br />• The Finance Director will review and approve the payroll file. <br />• A list of all payroll-related electronic fund transfers shall be submitted to the City <br />Council at the next regular City Council Meeting following the transfer. <br /> <br />VII. Policy Controls <br /> <br />The City of Little Canada will only make payments via electronic funds if the following <br />policy controls are met: <br /> <br />1. The disbursing bank must keep on file a certified copy of the delegation of authority. <br />