BY-LAW NO. 2
BEING A BY-LAW RELATING TO THE BANKING AND FINANCE OF
THE BOARD OF HEALTH FOR THE WELLINGTON-DUFFERIN-GUELPH HEALTH UNIT
(hereinafter referred to as the “Board”)
1. BANKING AND FINANCE
1.1 Financial Records
The Board shall keep or cause to be kept books, records, and accounts of its financial affairs as well as the invoices, receipts and other documents in its possession that relate to the financial affairs of the Board.
1.2 Annual Financial Statements
Each year the Board shall cause to be prepared statements of its financial affairs including:
(a) an annual statement of income and expenses;
(b) annual statement of assets and liabilities; and
(c) annual estimate of expenses for the next year.
1.3 Bank or Trust Agreement
The Board, through the Medical Officer of Health and Chief Executive Officer, will ensure that an agreement exists with a recognized chartered bank or trust company which will provide the following services:
(a) A current chequing or savings account(s) for the Board;
(b) Provision for cancelled cheques on a monthly basis, together with a statement showing all debits and credits;
(c) Payment of interest at a rate to be negotiated between the Board and the bank or trust company for all surplus funds temporarily held in such account(s); and
(d) Provide advice and other banking services as required by the Board;
1.4 Signing Authority
The Board will maintain a list of names, titles, and signatures of those individuals who have signing authority.
Two signatures shall be required on each cheque, comprised of either (a) one signature each from two of the Board Chair, the Secretary-Treasurer, the Director of Administrative Services or the Medical Officer of Health; or (b) one signature from the Board Chair, the Secretary-Treasurer, the Director of Administrative Services or the Medical Officer of Health, and a second signature from any other Director. These signatures shall be on a signature plate in the keeping of the Director of Administrative Services.
1.5 Authorization
The Medical Officer of Health and Chief Executive Officer is hereby authorized on behalf of the Board to:
(a) Deposit or negotiate or transfer to the bank or trust company (but only for the credit of the Board) all or any cheques, promissory notes, bills of exchange or orders for payment of monies;
(b) Receive all paid cheques and vouchers and to arrange settle, balance and certify all books and accounts at the bank or trust company; and
(c) Sign the bank or trust company’s form of settlement of balance and releases.
ENACTED this 6th day of March, 2019.
WITNESS the seal of the Board.
(Signatures: Chair, Secretary-Treasurer)
DIRECTORS RESOLUTION MAKING AND CONFIRMING
BE IT RESOLVED THAT By-Law Number 2 being a by-law relating to the banking and finances of the Board be and the same is hereby made as a by-law of the Board and the Chair and the Secretary-Treasurer be and they are hereby authorized to sign the by-law.
THE UNDERSIGNED, being all the directors of the Board hereby sign the foregoing resolution pursuant to the provisions of the Health Protection and Promotion Act (Ontario).
DATED the 6th day of March, 2019.
(Signatures: Chair, Secretary-Treasurer)
