City of Peru Finance and Safety Services Committee met Feb. 17.
Here is the minutes provided by the committee:
THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT: Aldermen Radtke and Payton present; Alderman Sapienza absent; Alderman Buffo arrived at 6:11 p.m. Mayor Harl present.
OTHER PERSONS PRESENT: Deputy City Clerk Stephanie Piscia, Alderman Radtke, Alderman Payton, Alderman Buffo, ASM Doug Bernabei, PSM Jeff King, City Engineer Eric Carls, Finance Officer Justin Miller, Human Resource Manager Kim Reese, Parks, Recreation and Special Events Director Adam Thorson, Mike Perry of Chamlin and Associates and Chris Perra of T.E.S.T. and Economic Development Director Bob Vickery
MATTERS DISCUSSED
Alderman Radtke made a motion to approve the minutes of the February 5, 2020 Finance & Safety Services meeting. Alderman Payton seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on February 20, 2020. PRESENTATION
OLD BUSINESS
Finance Officer Justin Miller provided the following report:
Finance Report- 02/17/2020
Investment Strategy
Reinvestments looking more like the laddering approach Liquidity
• City has $900,000 in excess liquid reserve. The liquidity is in the Utility and General Funds and the recommendation is to reinvest $900,000 of the funds
Investment Parameters
• Security type: Certificate of Deposit
• Maturity length of: (24,30,36 months) • Interest range of: (Best Rate Available)
Long Term Financial Plan
Update-budget meetings and capital project listing • Preliminary documents available shortly
Grant Items
Plank Road (No update)
Market Street Water Main Loop (Northern Partners)
Cell Tower Lease
T-Mobile/Sprint Merger
• 2nd time trying to move forward with lease. T-Mobile pulled out two times at the finish line and is no longer extending contracts more than a year past maturity date
Fiscal Year 2021 Budget
March 2nd first draft
March 16th second draft-posted online
March 30th final draft
April 27th budget hearing and approval
Actuarial Footnotes
GASB 67 & 68 Engagement Letter
• Police and Fire pension liabilities
• Each report will cost $1,650.00
GASB 75 Engagement Letter
• Post-employment benefits
• Report will cost $1,500.00
Human Resource Manager Kim Reese provided the following update:
Human Resources Report- 02/17/2020
Illinios Public Risk Fund-HELP Program-Rebate on Workers Compensation Premium
In 2019 the City committed to completing 12 action items for the Highly Enhanced Loss Prevention program
Notified that we were successful in the completion of those items and have been awarded a 10% rebate to the workers compensation premium by March 31, 2020
Rebate equates to $19,288.90
Employe Handbook & Drug & Alcohol Policy
Will email draft policies within the week and will be discussed/presented for approval at next Finance and Safety Services meeting and Regular Council meeting.
o Noted a proposed Return to Work policy that may be included in the handbook or could be a stand-alone policy
Noted there will be a zero-tolerance policy on new cannabis law
Employe Handbook & Drug & Alcohol Policy
56 Applicants-10 interviewed
o Noted applicant pool was fantastic
Selection to be made by end of week
NEW BUSINESS
Alderman Radtke reported Economic Development Director Bob Vickery passed out 2020 Economic Development project lists.
Finance Officer Justin Miller stated the city received the Peru Parkside bond invoice.
City Engineer Eric Carls noted that due to an issue with Concur (accounting billing system), there were a larger volume of Chamlin and Associates bills.
PSM/Fire Chief Jeff King reported on insurance claim for damage to bunker gear hoses.
Mayor Harl asked the committee to be looking into properties to relocate the new substation. Mayor Harl stated he was contacted by Terry Happ and has some property to sell. Mayor Harl stated it is Electric Department Foreman Kye Kaszynski’s best spot for new substation.
Finance Officer Justin Miller stated the city is in the 3rd and final year of contract with Buxton and will need to know by summer if we will renew contract.
PUBLIC COMMENT
CLOSED SESSION
Alderman Payton made a motion to adjourn. Alderman Buffo seconded the motion. Meeting adjourned at 6:32 p.m.
https://www.peru.il.us/city-government/minutes/finance-and-safety-services-minutes/2020-fs-1/4775-finance-and-safety-services-minutes-02-17-20/file
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