Finance Committee

City of Joliet 150 West Jefferson Street Joliet, IL 60432 Meeting Minutes - Pending Approval Tuesday, March 21, 2023 5:30 PM City Hall, Council Chambers Finance Committee Committee Members Councilman Joe Clement Councilman Cesar Guerrero Councilwoman Sherri Reardon Finance Committee Meeting Minutes - Pending Approval March 21, 2023 Page 1 of 1 Finance Committee Meeting Minutes - Pending Approval March 21, 2023 Citizens who are unable to attend the meeting can email comments in advance of the meeting to publiccomment@joliet.gov. ROLL CALL: Present Councilwoman Sherri Reardon, Councilman Cesar Guerrero and Councilman Joe Clement ALSO PRESENT: Kevin Sing - Director of Finance and Armando De Avila - Risk Management Attachments: February 2023 Minutes A motion was made by Councilwoman Sherri Reardon, seconded by Councilman Joe Clement to approve the Minutes for February 21, 2023. The motion was carried by the following vote: Aye: Councilwoman Reardon, Councilman Guerrero and Councilman Clement CITIZENS TO BE HEARD ON AGENDA ITEMS: None. AGENDA ITEMS: A Resolution Approving Amendments to the City of Joliet TMP-5429 Investment Policy Attachments: Investment Policy Investment Policy Resolution Kevin Sing, Director of Finance - Presented the Investment Policy and Investment Policy Resolution regarding federal home loan banks, and the removal of using City bonds as collateral. Both items were recommended to be presented to full council for approval. No further discussion was held. A motion was made by Councilwoman Sherri Reardon, seconded by Councilman Joe Clement to approve the Investment Policy and Resolution, and recommended to move both items forward to full council for approval. The motion was carried by the following vote: Aye: Councilwoman Reardon, Councilman Guerrero and Councilman Clement IMRF Out-of-State Credit Authorization TMP-5425 Armando De Avila, Risk Management - Presented the IMRF Out-of-State Credit Authorization. No further discussion was held. Page 1 of 3 Finance Committee Meeting Minutes - Pending Approval March 21, 2023 A motion was made by Councilman Joe Clement, seconded by Councilwoman Sherri Reardon, to approve the IMRF Out-of-State Credit Authorization and was recommended to move forward to full council for approval. The motion was carried by the following vote: Aye: Councilwoman Reardon, Councilman Guerrero and Councilman Clement REPORTS: TMP-5406 Attachments: February2023 Monthly Financial Report Mr. Sing - presented the Monthly Financial Report for February 2023. Brief discussion was held. TMP-5407 Attachments: Invoices Paid 02.23 Mr. Sing - presented the February 2023 Invoices Paid Report. Brief discussion was held. TMP-5408 Attachments: Travel 02.23 Mr. Sing - presented the February 2023 Travel Expense Report. No discussion was held. TMP-5409 Attachments: Personell Summary Report - March 2023 Armando De Avila, Risk Management - discussed employment positions currently open within the City of Joliet. No further discussion was held. NEW OR OLD BUSINESS, NOT FOR FINAL ACTION OR RECOMMENDATION: None. PUBLIC COMMENTS: None. ADJOURNMENT: Page 2 of 3 Finance Committee Meeting Minutes - Pending Approval March 21, 2023 A motion was made by Councilman Joe Clement, seconded by Councilwoman Sherri Reardon to adjourn. The motion was carried by the following vote: This meeting will be held in an accessible location. If you need a reasonable accommodation, please contact Christa M. Desiderio, City Clerk, 150 West Jefferson Street, Joliet, Illinois 60432 at (815) 724-3780. Page 3 of 3