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Treasurer reports $8.7M in holdings; council discusses CDs, time clocks and overtime policy
Summary
Treasurer White reported CD maturities and balances; Curt Benson confirmed audit figures showing $8.7 million in holdings. Councilors discussed monthly CD allocation reporting and the possibility of time clocks and confirmation of supervisor overtime on paysheets.
Mayor Courtney read the Treasurer’s Report noting the City "has three certificates of deposit at Casey State Bank with a rate of 4.25 percent with $77,968.95 in each account." Treasurer White also said a collection of six CDs matured at $441,831 and that he found a rate of 3.75 percent at Casey State Bank. Ald. Volkman asked for a monthly list of certificates of deposit and their allocations.
Council members discussed payroll questions, including the possibility of instituting time clocks similar to other area towns and county governments. Ald. Volkman questioned the policy concerning the "2-hour call out overtime pay for City employees" and requested the Mayor confirm supervisor overtime on paysheets. Ald. Lewis, in a written statement, reiterated concern about the sewer plant’s discharge into the river, tying payroll/operations discussion back to operational oversight.
