06-23-2008 - Laserfiche WebLink

Home Browse Search

Item No: 7A Meeting Date: June 23, 2008 Type of Business: EDA Business Administrator Review: ___ City of Mounds View Staff Report To: Mounds View Economic Development Authority From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Resolution 08-EDA-243 Approving the Election and Appointment of Officers to the Authority Background On February 25, 2008, Clerk-Administrator Jim Ericson introduced Resolution 08-EDA-243 Approving the Election and Appointment of Officers to the Authority. Mr. Ericson’s staff report is attached for your reference. The EDA appointed Commissioner Stigney as Vice President but postponed additional appointments since the EDA’s bylaws regarding the Treasurer’s office were inconsistent with Minnesota State Statute Section 469.096. The inconsistency was that Statute requires that a Commissioner hold the office of Treasurer and the EDA bylaws had no such requirement. Discussion The general duties of the EDA’s officers are summarized below. • President − presides at all EDA meetings • Vice President − presides at EDA meetings in the absence of the President • Clerk − recording officer (does not need to be a Commissioner per State Statute) • Secretary − keeps minutes and records in the absence of the Clerk • Treasurer − receives and is responsible for funds, disburses funds by check, keeps receipts/disbursements and submits financial statement with EDA Secretary annually • Executive Director/Assistant Treasurer − chief executive officer, administers Authority business, serves as Treasurer in the Treasurer’s absence (Assistant Treasurer does not need to be a Commissioner per State Statute) State Statute Section 469.097 gives the EDA the power to delegate officer duties to an agent or employee. As such, the EDA may delegate the Secretary duties to TimeSaver and the Treasurer duties to the City’s Finance Director.