(1) The district’s general manager shall be the district’s “authorized individual” with the authority to authorize all amendments, changes, or alterations, including the designation of other individuals to make contributions, withdrawals, and obtain account information with the LGIP.

(2) The delegation of the “authorized individual” ends upon the written notice, by any method set forth in the prospectus, of the governing body that the authorized individual has been terminated or that his or her delegation has been revoked. The office of the State Treasurer will rely solely on the governing body to provide notice of such revocation and is entitled to rely on the authorized individual’s instructions until such time as said notice has been provided.

(3) The form incorporated into this section as Exhibit “A” or as hereafter amended by the delegated authority, or any other documentation signed or otherwise approved by the authorized individual, shall remain in effect after revocation of the authorized individual’s delegated authority, except to the extent that the authorized individual whose delegation has been terminated shall not be permitted to make further withdrawals or contributions to the LGIP on behalf of the district. No amendments, changes, or alterations shall be made to the form or any other documentation until the entity passes a new resolution naming a new authorized individual.

(4) The district’s board of commissioners acknowledges that they have received, read, and understood the prospectus as provided by the office of the State Treasurer. In addition, a copy of the prospectus will be provided to any person delegated or otherwise authorized to make contributions or withdrawals into or out of the LGIP and that said individuals will be required to read the prospectus prior to making any withdrawals or contributions or any further withdrawals or contributions if authorizations are already in place.

(5) The general manager, or designee, is authorized to only deposit or invest district monies at a financial institution designated as a qualified Washington Public Depository or the Washington State Local Government Investment Pool (LGIP) until the board of commissioners adopts a formal investment policy by resolution.

(6) The district will file a certified copy of Resolution No. 769 with the office of the State Treasurer.

(7) The general manager or designee shall establish internal controls to monitor and formally reconcile district cash and investments on a monthly basis. The formal monthly reconciliation shall be accomplished by the general manager, or designee, and such formal reconciliation shall be reviewed and acknowledged by a second district employee designated by the general manager.

(8) The general manager, or designee, shall review the quarterly State of Washington Public Deposit Protection Commission listing of qualified Washington Public Depositories to ensure the district’s financial institution retains its qualifications.

(9) The board of commissioners shall receive a quarterly financial management report that includes a listing of cash and investments.

(10) The district’s finance manager, or designee, is authorized to transfer funds between the deposit account, the revolving account, the money market account, and the Washington State Treasurer Local Government Investment Pool.

(11) The finance manager shall report to the board of commissioners the district’s cash and investment balances quarterly. [Res. 770 § C, 2019; Res. 769 §§ 1 – 9, 2019.]