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Staff presents draft procurement and investment policies and a consultant contract change; board asked for feedback
Summary
Staff reviewed a draft procurement policy with relaxed quote thresholds and a proposal to incorporate advanced payment rules, an investment policy to guide use of fund balance, and a consultant contract shift from a flat monthly fee to a not-to-exceed arrangement; staff said it would return with revisions after board feedback.
At a Village Board work session, a staff presenter reviewed a draft procurement policy and a proposed investment policy and described a pending contract renewal for a gas-system consultant.
On procurement, Speaker 4 said the draft attached to the agenda would change several requirements in the village code, including how professional services and emergency procurements are handled and how the board receives claims for payment. "We could look to incorporate either some of these items that are in this draft policy into the code," Speaker 4 said, and asked whether the board preferred a detailed code provision or an…
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