City of La Salle Finance Committee met Feb. 24.
Here is the minutes provided by the committee:
Chairman Ptak called the meeting to order at 6:00 p.m.
Present: Alderman Ptak, Alderman Demes, Alderman Lavieri, Alderman Jeppson, Alderman Herndon
Absent: None
Others present: Finance Director John Duncan
A quorum was present.
There were no questions on the bills.
In regard to the request from Jake Green for a monetary donation to the Cruisin’ La Salle Car Show with proceeds benefiting the La Salle Girls and Boys Baseball program, the committee unanimously voted to donate $250 to the Car Show.
Finance Director John Duncan reviewed where the City stands with the IMLRMA Min/Max program for liability. In 2019 there were 16 total claims totaling with a YTD payout of $58,558. The loss fund is set at $252,000, so anything over that is when the City has to start paying. There are two surgeries still pending having reserves on those of $240,000, so it is speculated to have a pay-out $299,000. If that is the case the City will have to pay approximately $40,000 out of pocket. The City has stayed under the set amount of the loss fund in 2016, 2017 and 2018. Of the claims in 2019, nine claims were workers compensation related accounting for $272,000 of the $299,000 in payouts. Finance Director Duncan stated that he believes we are still better off taking the min/max plan, as it pays off over the course of time.
The meeting was adjourned at 6:06 p.m.
https://www.lasalle-il.gov/sites/default/files/agendas-minutes/2020-03/2-24-2020_0.pdf
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