Peru Finance and Safety Services Committee discusses FY2018 budget
Peru Finance and Safety Services Committee met Wednesday, Feb. 1.
Here are the minutes as provided by Peru:
FINANCE & SAFETY SERVICES COMMITTEE MINUTES
DATE OF MEETING: February 1, 2017 TIME: 4:00 p.m.
PLACE OF MEETING: Council Chambers, Peru Municipal Building
1901 4th Street, Peru, IL 61354
THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT:
Aldermen Potthoff, Ferrari, Radtke and Payton present; Mayor Harl present.
OTHER PERSONS PRESENT: Alderman Lukosus, Alderman Sapienza, City Clerk Dave Bartley, Treasurer Jackson Powell, PSM/Fire Chief Jeff King, ASM/Police Chief Doug Bernabei, Finance Officer Justin Miller, Intern Matt Pehoski, Human Resource Manager Kim Reese, Economic Development Director Bob Vickrey and Ben Hohenstatt of the News Tribune
Alderman Potthoff made a motion to approve the minutes of the January 18, 2017 Finance & Safety Services Meeting. Alderman Ferrari seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on February 8, 2017.
Andrea from Winkel, Parker & Foster provided an audit presentation as follows:
· In accordance with Government Standard
Charleston Community Unit School District No. 1 Board reviews salary schedule for central office employees
Compliant with GASB 67
Pension liability restated
Segregation of duties
Mailing of utility bill / receiving of payments
Mailing of Statement in Bookkeeping / receiving of payments
Fund transfers and GL entries
Proper control of daily transactions
Year-end totals need additional review
Alderman Potthoff noted the following:
increase in net position of 8%
low debt ratio
·low reliance of property tax
Committee discussed electronics recycling options.
Treasurer Jackson Powell reported on a recent Police Pension meeting with a year-end return of 8%.
Finance Officer Justin Miller provided the following update:
Finance Report- 02/01/2017
1. 2009 Hydro Bond Refinance
Moody’s Credit Opinion
Affirmed A1, Positive Outlook
Bernardi Securities Pre-Order Selling (End of February)
Bond Council and Paying Agent (March)
2. Expense Reimbursement and Credit Card Policy
Update and further define policy (No Update)
Credit Card Policy
3. Fiscal Year 2018 Budget
Public Works Vehicle (Option)
Plank Road Project (1.0M)
Sewer Separation (1.5M)
4. Martin Equipment Leases
Human Resource Manger Kim Reese provided the following update:
FOP & Local 150 collective bargaining agreements expire 4/30/17
FOP Negotiations scheduled for 2/27/17 - 10AM
PART-TIME RECEPTIONIST POSITION
• Conducted interviews and selected a candidate
• Will be placed on Monday’s Council Mtg agenda for approval
• Continuing with updates and plan to meet with department heads again to discuss further.
Alderman Ferrari made a motion to adjourn. Alderman Payton seconded the motion. Meeting adjourned at 4:55 p.m.
Organizations in this Story
1901 4th Street
Peru, IL - 61354