Forwarded from Georgetown Transportation Enhancement Corporation (GTEC):

Consideration and possible action to approve a Resolution amending the bylaws of the corporation, clarifying the roles of the General Manager and Finance Manager and authorizing those individuals to delegate duties and responsibilities -- Leigh Wallace, Finance Director, COG, Finance Manager, GTEC

The purpose of this item is to amend the bylaws of GTEC so that the General Manager (City Manager) and Finance Manager (Finance Director) may apply financial procedures and internal controls consistent with other operations of the City. These controls continue to follow industry standards, state law and are reviewed by the City’s external auditor.

The current language of the bylaws restricts the General Manager and Finance Manager from delegating duties. This means both positions are manually receipting invoices for GTEC’s major capital projects and right of way acquisition before payment is authorized, in addition to project managers, Director, and Assistant City Manager. In future, the approvals will be consistent with the City’s policy and procedures on approving invoices. Engineering Department staff, Director and Assistant City Manager will receipt for the invoices based on amount. These changes to the bylaws will allow for streamlined processing of payments now, as well as in the new financial software currently being implemented by the City.

City of Georgetown Invoice Approval Limits: