Peru Finance Committee updated on Police Pension Fund audit plan
At a recent meeting, the Peru Finance and Safety Services Committee received an update on a plan for an outside audit of the Police Pension Fund.
The Peru finance officer and the committee are responsible for directing the financial operations of the city, including planning, developing, organizing, implementing, directing and evaluating the city’s financial operations.
Below are the minutes from this meeting, as provided by the committee.
FINANCE & SAFETY SERVICES COMMITTEE MINUTES
DATE OF MEETING: May 25, 2016 TIME: 4:00 p.m.
PLACE OF MEETING: Executive Conference Room, Peru Municipal Building
1901 4th Street, Peru, IL 61354
THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT:
Aldermen Potthoff, Radtke and Payton present; Alderman Ferrari absent; Mayor Harl present.
OTHER PERSONS PRESENT: City Clerk Dave Bartley, Alderman Lukosus, Alderman Sapienza, City Engineer Eric Carls, ASM Doug Bernabei, PSM King and Finance Officer Justin
Alderman Potthoff made a motion to approve the minutes of the May 11, 2016 Finance & Safety Services Meeting. Alderman Payton seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on May 18, 2016.
Peru Police Commander Shaun Anderson addressed the Committee requesting a $625.00 donation to purchase a grill from Debo’s for the Jason Brokaw benefit. The Committee approved the request.
Finance Officer Justin Miller reviewed the Sales Tax Comparison, as prepared by intern Matt Pehoski.
Finance Officer Justin Miller reviewed the exhibit for the reserve policy for the general fund and utility fund. Finance Officer Justin Miller reported the starting balance for the General Fund is $2,506,522; Utility Fund starting balance is $7,000.000
ASM Bernabei to follow up with Corporate Counsel to ensure the investment policy is ready for Tuesday’s Regular Meeting and language for overall council approval.
Alderman Payton reported on a special Police Pension Fund meeting to discuss and approve an outside audit of the fund; being paid for by the pension fund.
Committee tabled discussion/approval of NCICG Annual Membership Fee in the amount of $3,000.99. Mayor Harl requested further research.
Alderman Payton made a motion to approve Starved Rock Country Summer Events Promo ad in the amount of $400.00. Alderman Radtke seconded the motion, motion carried.
Alderman Potthoff made a motion to go into closed session to discuss appointment, employment, compensation, discipline, performance, or dismissal of specific employees of the public body or legal counsel for the public body, including hearing testimony on a complaint lodged against an employee or legal counsel for the public body to determine its validity. Alderman Radtke seconded the motion. City Clerk Dave Bartley called the roll with Aldermen Potthoff, Radtke, and Payton voting aye; Mayor Harl voting aye; Alderman Ferrari absent; motion carried.
Closed session began at 4:22 p.m.; ended 5:02 p.m.
Alderman Payton made a motion to re-open the meeting at 5:02 p.m. Alderman Radtke seconded the motion. City Clerk Dave Bartley called the roll with Aldermen Potthoff, Radtke, and Payton
present; Alderman Ferrari absent; Mayor Harl present.
Alderman Radtke made a motion to adjourn. Alderman Payton seconded the motion. Meeting adjourned at 5:02 p.m.