Resolution 2002-03
Resolution
2002-03
of the Meeting of the Board of Directors of
the Federal Financing Bank
September 12, 2002
FEDERAL
FINANCING BANK
WASHINGTON, D.C. 20220
RESOLUTION
OF THE BOARD OF DIRECTORS
WHEREAS,
Section 4.01 of the Bylaws of the Federal Financing
Bank (the "Bylaws") provides that in addition to the principal
officers of the Bank, there shall also be such additional
officers as may be deemed necessary by the Board of Directors
(the "Board"); and
WHEREAS,
Section 4.02 of the Bylaws provides in part that officers
or agents of the Bank shall have such authority and perform
such duties in the management and conduct of the business
of the Bank as may be established by resolution of the Board
not inconsistent with the Bylaws; and
WHEREAS,
the Congress has recognized the importance of effective financial
management practices to the Federal Government in enacting
the Chief Financial Officers Act of 1990; and
WHEREAS,
as described in a memorandum dated March 19, 2002, from the
Secretary of the Treasury to all Department of the Treasury
bureau heads, the Secretary of the Treasury has instituted
a plan to ensure that material weaknesses and audit recommendations
are addressed in an expedited manner, part of which involves
formalizing the reporting relationship between bureau chief
financial officers and the chief financial officer; and
WHEREAS,
while the Bank is not a "bureau" of the Department
of the Treasury, the Bank is subject to the general supervision
and direction of the Secretary of the Treasury under Section
4 of the Federal Financing Bank Act of 1973;
NOW,
THEREFORE, BE IT RESOLVED, that the Board hereby
establishes the position of Chief Financial Officer as an
additional officer of the Bank.
BE
IT FURTHER RESOLVED, that the Chief Financial Officer
of the Bank shall, in general, perform all financial management
duties and such other duties as the Treasurer of the Bank
shall prescribe.
BOARD
RESOLUTION NO. 2002-03
Last Updated:
July 30, 2006
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