INCLUDES:

1. Seeking recommendation for Salary Survey company (South Elgin)
2. RFP for Actuarial Services (Freeport & Flora)
3. Response Village Treasurer Job Description (Burlington)
4. Response Accounting Policies & Procedures (Peoria)
5. DROP legislation

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SALARY SURVEY conducted by company

I would like to ask the members if anyone has conducted a salary survey in the past year or two; what companies they considered/used; and a cost (doesn't have to be exact) for the service. Thank you for all replies. Have a great week!

Art Skibley
Finance Director
Village of South Elgin
askibley@southelgin.com

GRAYSLAKE:
We used The Par Group 847/234-0005 for NorthEast area department head salary survey. Approx $4,000
Michael

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RFP for ACTUARIAL SERVICES

I am in search of an RFP for actuarial services. Our Police Pension Fund has finally agreed to hire a private firm, and I will be developing the RFP. I hate to start from scratch, if I can avoid it. I didn't see one on the website.

Also any comments, suggestions, concerns, "this works better than that", "do this, don't do that" comments would be euqally appreciated as well!!

Thanks so much.
Linda Buss
Freeport

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RFP for ACTUARIAL SERVICES

I would like to know of an actuary in this area who could look at our Police Pension fund. Does anyone have a model RFP.
Also, Erik Bush says Hello!
Janice Schofield
City of Flora
jschofield@florail.us

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VILLAGE TREASURER JOB DESCRIPTION

Hi Michael! I was hoping that some of the wonderful treasurers out there in "municipality land" could yet again assist me in my quest for perfection? I am in desperate need of job descriptions for a Village Treasurer, the more the merrier! Our Village has adopted the IML job description which is as clear as mud to me, and I would like to get a better understanding of my job as it relates to other municipalities.

(Side note) And I am hoping that Brazil will be as delightful as the travel brochure purports it to be, Friday afternoon is my departure for those long awaited 3 weeks of fun. I will have some delightful tales to tell at the next IMTA function I am sure...best wishes and thanks in advance for your assistance!

Best wishes,
Rhonda Christensen, CIMT
Treasurer, Village of Burlington
burlingtontreas@sbcglobal.net

RESPONSE:

Rhonda, Here are my comments...

I was elected Treasurer in 1993 as my first government experience. As such I am part-time, no office, little pay... I have little involvement in the day to day operation which is handled by the finance dept...

There is no Treasurer's job description or duties statement other than what you can find in the statutes which are kind of vague. After being in office for a couple of months I decided what I wanted to accomplish... Here is a short list...

1. Ensure that all elected officials and staff are properly bonded.
2. Ensure that city funds were properly and continually collateralized.
3. Create a comprehesive Investment Policy. Check out the United City of Yorkville's web site for ours.
4. Enable funds tracking through the use of online viewing of bank accounts and the State of Illinois Money Market Funds.
5. Maximize interest received on city funds through electronic transfers ( rather than checks through the mail), short term CD's, CDARS (still looking at this one)
6. Create a Fund Balance Reserve Policy as a "rainy day" reserve. Check out the United City of Yorkville's web site for ours.
7. Attempt to keep the council informed through the monthly Treasurer's report. ( We are looking at revising this one )
8. Work with the Finance department to provide input or assistance.

I feel I have accomplished some things which have helped the city now and in the future...
The job is pretty much what you want to make it...

Good luck....
Bill Powell
Treasurer: United City of Yorkville
wpnkp81@sbcglobal.net

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ACCOUNTING POLICIES & PROCEDURES

Peoria County is looking for assistance in preparing accounting policies and procedures. This would be a comprehensive project, including everything from AP, AR, Cash Receipts, Bad Debt, Internal Controls, etc. Has anyone issued an RFP for outside assistance in developing overall policies, training organization-wide, and implementing best practices? Thanks for your help.

Donna Schwab
Peoria County Budget Director

Donna,
If you receive electronic replys to your request, please forward a copy to me.
Thanks
Michael

The replies were mixed. Those that had policies had developed them internally. Many didn't have formal policies. I've attached the email that either had policies or suggested resources. We've not proceeded with the project. Ideally, we'd like to develop them internally, too. Time is an issue whether developing an RFP and working with a consultant or doing it ourselves. I certainly thank everyone that had responded.

Donna
dschwab@co.peoria.il.us

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DROP - Deferred Retirement Option Plan Amendment to House Bill 1816

Legislation is expected to be introduced to provide the "DROP" option to police and fire employees. DROP allows an employee to begin drawing their pension five years before they actually retire. For participants with 30+ years of service, this results in a "double dipping," with the employee receiving up to 175% of their salary during those five years. There is a provision that allows the Pension Board to decided whether the DROP plan is adopted. It is the opinion of several IMTA Board members that local governments should oppose this legislation because of one- the "adoption provision" and two- the extension of retirement benefits above the 75% maximum provision. There is alot of debate on this issue. Please take the time to familiarize yourself with the legislation and send your feedback to your state and local officials.

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APT's 41st Annual Conference- Memphis, TN
July 22-26, 2006
Largest Government and Finance Conference in the United States