City of Peru Finance Committee met June 17.
Here are the minutes provided by the committee:
ROLL CALL: THE FINANCE & SAFETY SERVICES COMMITTEE MEMBERS PRESENT: Aldermen Payton, Ballard, Buffo and Tieman present.
OTHER PERSONS PRESENT: City Clerk Dave Bartley, Mayor Kolowski, PSM Jeff King, Director of Finance Justin Miller, IT Director Stephen Rounds, Director of Human Resources Kim Reese
MATTERS DISCUSSED
Alderman Sapienza made a motion to approve the minutes of the May 20, 2021, Finance & Safety Services meeting. Alderman Buffo seconded the motion; motion carried.
The Committee reviewed and approved the disbursements for payment on June 23, 2021. PRESENTATION
OLD BUSINESS
Justin Miller, Director of Finance provided the following finance update:
• Disbursements
o Change of format
o Payable’s report
• Purchasing Policy
o Conflicts of interest
o Minor updates
o No substitute changes
o New ordinance to update the policy
• Investment Policy and Strategy
o Updated the preferred broker language
o Other grammatical updates
o Current preference to stay liquid until market improves
• Police and Fire Pension
o Finishing up City audit progressing and on schedule
o Looking forward to reviewing actuarial report
• Phase II Economic Development Grant
o $3,970 for new applicants
o $2,000 for previous recipients
o Distributed on June 22nd
NEW BUSINESS
Committee discussed streaming of committee meetings and stated that since the building is open there is no need and that normally no public is present.
PSM/Fire Chief Jeff King reported on emergency sewer repairs
Committee approved $500 donation to the Aden Lamps Foundation.
PUBLIC COMMENT
CLOSED SESSION
Alderman Payton made a motion to go into closed session to consider meetings on collective negotiating matters between the public body and its employees or their representatives, or deliberations concerning salary schedules for one or more classes of employees and purchase or lease of real property for the use of the public body is being considered, including meetings held for the purpose of discussion whether a particular parcel should be acquired, or where the public body is considering the setting of a price for sale or lease of its property. Alderman Tieman seconded the motion. Clerk Bartley called the roll with Aldermen Payton, Ballard, Buffo and Tieman voting aye; motion carried.
Closed session began at 5:35p.m.; ended 6:00 p.m.
Alderman Tieman made a motion to reopen the meeting. Alderman Payton seconded the motion. Clerk Bartley called the roll with Aldermen Payton, Ballard, Buffo and Tieman present.
Alderman Sapienza made a motion to adjourn. Alderman Tieman seconded the motion. Meeting adjourned at 6:01 p.m.
https://www.peru.il.us/city-government/forms-and-documents/minutes/finance-committee-minutes/2021-fc/5379-finance-committee-minutes-06-17-21/file
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