City of Peru Finance & Safety Services Committee met June 8.
Here is the minutes provided by the committee:
THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT: Aldermen Radtke and Payton present; Aldermen Sapienza and Buffo present. Mayor Harl present.
OTHER PERSONS PRESENT: City Clerk Dave Bartley, Treasurer Powell, Alderman Ferrari, Alderman Lukosus, Alderman Ballard, ASM Doug Bernabei, PSM Jeff King, City Engineer Eric Carls and Finance Officer Justin Miller
MATTERS DISCUSSED
Alderman Sapienza made a motion to approve the minutes of the May 26, 2020 Finance & Safety Services meeting. Alderman Payton seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on June 10, 2020.
PRESENTATION
OLD BUSINESS
Finance Officer Justin Miller presented the following update:
Finance Report- 06/08/2020
Investment Strategy
Update
• Staying liquid waiting for CD’s to improve
Fiscal Year 2021 Budget
Final Budget
• Discussed final budget to be voted on at regular council meeting
• $2.1 million deficit offset by $2.1 million in infrastructure fund Bond Ordinance
Discussed bond ordinance to be voted on at regular council meeting
• Moody’s rating call to take place on June 11th
Human Resource Manager Kim Reese provided the following update:
Census due August 1st
Final quote expected mid-August
October 1st will be start of transition back to BCBS of IL through IPBC
November 30th Letter of Termination with Key Benefit Administrators
Committee discussed and recommended $10,000 contribution to Illinois SBDC at the Starved Rock Country Alliance.
Alderman Radtke asked that the city talk to PVAS before cutting funding.
Alderman Payton addressed the Liberty Mutual renewal of the Boiler and Machinery insurance and asked for confirmation that the jet was covered. Clerk Bartley confirmed the jet was covered and noted the City receives credits from the IMEA for the standby capacity.
NEW BUSINESS
PUBLIC COMMENT
CLOSED SESSION
Alderman Payton made a motion to adjourn. Alderman Buffo seconded the motion.
Meeting adjourned at 6:26 p.m.
https://www.peru.il.us/city-government/minutes/finance-and-safety-services-minutes/2020-fs-1/4954-finance-and-safety-services-minutes-06-08-20/file
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