City of Peru Finance Committee met Jan. 30.
Here are the minutes provided by the committee:
ROLL CALL: Aldermen Payton, Sapienza and Tieman present. Alderman Buffo absent.
OTHER PERSONS PRESENT: City Clerk Dave Bartley, Treasurer Jackson Powell, Alderman Waldorf, Alderman Lukosus, Alderman Ballard, Alderman Edgcomb, Police Chief Bob Pyszka, Finance Director Justin Miller, Director of Engineering and Zoning Eric Carls, Adam Thorson, Director of Parks, Recreation and Special Events, Economic Development Director Bob Vickery, Mike Perry of Chamlin and Associates and Chris Perra of T.E.S.T.
MINUTES
Alderman Tieman made a motion to approve the Finance Committee Minutes of January 17, 2021. Alderman Sapienza seconded the motion; motion carried.
DISBURSMENTS
Committee reviewed and approved the disbursements for payment on February 2, 2022.
PRESENTATION
None
PUBLIC COMMENT
None
OLD BUSINESS
Kim Reese, Director of Human Resources reported on the following:
• Revised resolution for EPSL (Covid-19) pay ends April 30th
o Justin Miller, Director of Finance reported the city was reimbursed for employees who received covid-19 pay in 2020 through the CURES Act but not for employees who were paid covid-19 leave in 2021
• Discussed seeking applicants for Apprentice Lineman
o The Committee discussed and recommended seeking one
Justin Miller, Director of Finance provided the following finance update:
Budget Update
• The first draft of the budget was presented with a high-level overview. (Noted: this is the earliest 1st draft ever)
• The January initial draft marks the earliest a budget has been formally presented to the council. Department head collaboration and meetings were integral to the process.
• The current general fund budget deficit ($311,230) will move towards a surplus as future drafts are presented.
• The Peru Market Place (Wal-Mart/Kohls) sales tax rebate concluded in FY2022 and the freed cash flow (approx. $600k) will assist in paying the police station bond payments.
• IMRF city contribution rate reduced by almost 4% (or 40% of FY2022)
• Utility Fund cash flow is balanced after factoring in capital projects and bond premium payments • Pension contributions have not been updated with state-wide changes still pending.
NEW BUSINESS
Committee tabled scholarship program discussion.
PUBLIC COMMENT
CLOSED SESSION
Alderman Tieman made a motion to adjourn. Alderman Sapienza seconded the motion. Meeting adjourned at 6:57 p.m.
https://www.peru.il.us/city-government/forms-and-documents/minutes/finance-committee-minutes/2022-fc/5577-finance-committee-minutes-01-31-22/file
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