City of Peru Finance Committee met Nov. 21.
Here are the minutes provided by the committee:
ROLL CALL: Aldermen Sapienza, Buffo and Tieman present. Alderman Payton absent.
OTHER ALDERMEN PRESENT: Aldermen Waldorf, Lukosus, Ballard and Edgcomb
PRESENTATION
None
PUBLIC COMMENT
None
MINUTES
Alderman Buffo made a motion to approve the Finance Committee Minutes of November 7, 2022. Alderman Tieman seconded the motion; motion carried.
OLD BUSINESS
Finance Officer Tracy Mitchell reported the following:
• Investment of 2 CD’s
o $100,000 investment into Sallie Mae Bank, CD at 4.95% for 2 years (Municipal Pool)
o $150,000 investment into Sallie Mae Bank, CD at 5% for 3 years (Utility Fund)
NEW BUSINESS
Eric Carls, Director of Engineering and Zoning reported he met with Alderman Payton, Finance Officer Tracy Mitchell to discuss long term planning for capital projects.
Eric Carls, Director of Engineering and Zoning reported the Paser, General Fund Street program evaluation is complete and will be presented at an upcoming Public Services meeting.
Alderman Waldorf asked that the investment strategy should be evaluated based on future commitments/capital projects.
PUBLIC COMMENT
None
CLOSED SESSION
None
ADJOURNMENT
Alderman Tieman made a motion to adjourn. Alderman Buffo seconded the motion. Meeting adjourned at 6:40 p.m.
https://www.peru.il.us/city-government/forms-and-documents/minutes/finance-committee-minutes/2022-fc/5891-finance-committee-minutes-11-21-22/file
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