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Also attached to this agenda item: Electronic Funds Transfer Policy October 30th Resolution 220-2023 EFT Policy

To: From: Date: October 25, 2023 Re: Electronic Funds Transfer (EFT) Policy At the recommendation of our insurance company, the Village Treasurer has prepared the attached Electronic Funds Transfer (EFT) Policy that will govern how payments are made by wire by the Village. As a general rule, the Village makes payment to vendors by check. However, some payments are required to be made by wire. Because of the increase in wire transfer fraud, it is prudent to have a written policy in place that governs the procedures for these EFTs. These procedures will reduce the risk of the Village making a fraudulent wire payment. Please let me know if you have any questions. Thank you. Mayor Brian Pugh Trustees Ann Gallelli Sherry Horowitz Nora Moriarty Nicholson Len Simon Village Manager Bryan T. Healy Village Treasurer Daniel Tucker Village Clerk Pauline DiSanto Village of Croton-on-Hudson New York Stanley H. Kellerhouse Municipal Building One Van Wyck Street Croton-on-Hudson, NY 10520-2501