City of Peru Finance & Safety Services Committee met Aug. 31.
Here is the minutes provided by the committee:
THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT: Aldermen Radtke, Sapienza, Payton and Buffo present. Mayor Harl present.
OTHER PERSONS PRESENT: City Clerk Dave Bartley, Treasurer Jackson Powell, Aldermen Ferrari, Lukosus, Ballard, ASM Doug Bernabei, PSM Jeff King, City Engineer Eric Carls and Finance Officer Justin Miller, Human Resource Manager Kim Reese, Economic Development Director Bob Vickery and Mike Perry of Chamlin and Associates
MATTERS DISCUSSED
Alderman Buffo made a motion to approve the minutes of the August 17, 2020 Finance & Safety Services meeting. Alderman Radtke seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on September 2, 2020. PRESENTATION
OLD BUSINESS
Human Resource Manager Kim Reese provided a health insurance update. Human Resource Manager Kim Reese stated final rates are locked in and a resolution accepting membership in QCHIP is on the regular agenda for approval.
Mr. Tyler Feeny of Arthur J. Gallahger & Co. addressed the committee via Zoom and gave the following presentation regarding IPBC (International Personnel Benefit Cooperative):
• IPBC Overview:
o History
Risk sharing entity established in 1979
Grown from 8 to 139 member entities, as of 7/1/20
o Membership
Open to Cities, Counties, Special Districts, and Cooperatives
1-year membership term (July 1 Renewal)
New members admitted by majority vote of Executive Board
o Governance
Members own the cooperative
Each member appoints a delegate to the Board of Directors or Sub pool Board
o Leadership Opportunities
Executive Board
Finance Committee
Operations Committee
Membership Development Committee
• What Makes the IPBC Different?
o Stable & Predictable
o Full Disclosure & Transparency
o Municipal Service Team
o Purchasing Power
o Access to Data
Human Resource Manager reported rates are loaded and there is a 90-day transition.
Finance Officer Justin Miller provided the following update:
• FY200 audit will be available the first week of October
• Investment Strategy Update
o July is a big maturity month, but rates are so low no action is recommended
• CURES and FEMA COVID funding
o Any COVID priority expenses
o Overtime
o Stay at home hours
o Safety glass in Municipal Building
• NWS/IT Performance Bond
o New bond due to the sale $1,104,000.00
NEW BUSINESS
Committee discussed and recommended $1,000 donation to Peru CSO to support the Veteran’s banners.
PUBLIC COMMENT
CLOSED SESSION
Alderman Buffo made a motion to adjourn. Alderman Payton seconded the motion.
Meeting adjourned at 6:33 p.m.
https://www.peru.il.us/city-government/minutes/finance-and-safety-services-minutes/2020-fs-1/5050-finance-and-safety-services-minutes-08-31-20/file
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