6217 – Electronic Funds Transfer
The Board authorizes the use of Electronic Funds Transfer (EFT) for payments to employees or vendors. EFT refers to the disbursement form a bank account by means of wire, direct deposit, automated clearing house (ACH) or other electronic means.
The NWESD 189 will develop and maintain procedures for electronic payments to safeguard district assets and to minimize fraud. The NWESD 189 will ensure that its procedures and practices are in line with guidelines published by the National Automated Clearinghouse Association (NACHA). Any requirements from the district’s bank or county treasurer regarding file submission or formatting shall also be followed.
The NWESD 189 will implement this policy according to the accompanying procedures.
First Reading: 08/26/2024
Second Reading: 09/23/2024
Reference:
6500 – Risk Management
Legal References:
RCW 28A.330.080 Payment of claims—Signing of warrants
RCW 28A.330.090 Auditing committee and expenditures
Date Revised: 09/23/2024