City of Peru Finance Committee met Sept. 5.
Here are the minutes provided by the committee:
ROLL CALL: Aldermen Sapienza, Ballard, Tieman present. Alderman Payton absent.
MINUTES
Alderman Ballard made a motion to approve the Finance Committee Minutes of August 21, 2023.
Alderman Tieman seconded the motion; motion carried.
PRESENTATION
None
PUBLIC COMMENT
None
OLD BUSINESS
Finance Officer Tracy Mitchel initiated a discussion regarding the annual Amazon Prime Membership. Ms. Mitchell reported the charge has been $1,299/year that we had paid in 2021 and 2022. Ms. Mitchell stated she changed to a SMALL business prime account which saves us $800/year but we have to have 10 or fewer users. Ms. Mitchell reported our TOTAL annual on savings from prime pricing and free shipping did exceed the membership charge, but we saved even more going to 10 users: Mitchell (Admin), Shevlin (Accounting), Piscia (Clerk's Office), Goskusky (Engineering), Wagner (Police), Mateika (PW & Fire), Fusinatto (Electric), Smith (HR), Rounds (IT), Thorson (Parks). Amazon has issued a credit memo for $1,062 for the prorated Medium membership and issued and invoice for $499 for the Small business membership.
Finance Officer Tracy Mitchell initiated a discussion regarding current actuary valuations of the Police and Fire Pensions. Ms. Mitchell reported that funding increased from 51.1% to 53.33% for the Police and 71.63% to 87.74% for the Firefighters. Ms. Mitchell suggested that in the future, we consider changing the proration of our tax levy and/or our budgeted annual contributions to perhaps gain more equity in the funding levels. The Fire pension has been held downstate for slightly over a year and had a 16.11% increase in the funding level. The Police pension was just recently transferred downstate so its funding gain of 2.23% was with Hometown National Bank.
PSM/Fire Chief Jeff King initiated a discussion regarding per diem vs expense report.
NEW BUSINESS
None
PUBLIC COMMENT
None
CLOSED SESSION
None
ADJOURNMENT
Alderman Tieman made a motion to adjourn. Alderman Ballard seconded the motion. Meeting adjourned at 5:06 p.m.
https://www.peru.il.us/government/agendas-and-minutes/minutes/finance-committee-minutes/finance-committee-minutes-2023/6242-finance-committee-minutes-09-05-23/file
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