HomeMy WebLinkAboutMinutes - 12/9/1998 - Finance and Personnel Committee (2) � � 1 v
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FINANCE/PERSONNEL COMMITTEE MEETING
December 9, 1998
Members Present: Chairperson Alderman Murgatroyd, Alderman
Baird, Alderman McClatchey
Absent: None
Others Present: Mayor Cuda, City Administrator Lobaito, City Clerk
Althoff, City Treasurer Welter, and Alderman Glab
Finance Chairman Alderman Murgatroyd called the meeting to order at 7:05 p.m.
He informed the committee staff had received nine proposals for banking services.
Interviews were conducted by City Treasurer Welter, City Clerk Althoff and City
Administrator Lobaito with all nine financial institutions. At their recommendation
representatives of the following four financial institutions;
Home State Bank
`-' Harris Bank
Amcore Bank
First Midwest Bank
were invited to make a brief presentation for the committee's consideration.
The financial institutions were scheduled in half hour increments beginning with
Home State Bank at 7:15 p.m.
City Administrator Lobaito reviewed the City of McHenry's current banking services
and associated interest rates and fees. A brief comparative synopsis of each of the
four proposals was presented. City Administrator Lobaito noted staff's interest in
providing the following services; automatic utility billing debt, direct payroll deposit
and credit card usage.
Representatives from each of the four financial institutions presented specific
information regarding their individual proposal and answered questions formulated
by the committee regarding electronic access and services, software security,
service fees, and the availability of automatic debit, direct deposit and credit card
services. In addition references were provided, Y2K compliancy was addressed
and each institution agreed to provide a letter of understanding enumerating the
terms and conditions of their banking services proposal.
Mayor Cuda left the meeting at 8:15 p.m.
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Finance Committee Meeting
December 9, 1998
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Some discussion followed after the four presentations. It was the consensus of
the committee to recommend Amcore Bank to full council as the City of McHenry's
banking service institution. It was noted Amcore has offered to waive all fees
associated with checking accounts, electronic services and NSF checks in addition
to providing interest bearing accounts.
Motion by Baird, seconded by McClatchey to recommend to full council the award
of the City of McHenry's banking services for a period of three years, until
December 31 , 2001 effective January 31, 1999 subject to a written letter of
understanding enumerating the terms and conditions of the Amcore services
proposal as presented.
Voting Aye: Baird, McClatchey, Murgatroyd
Voting Nay: None
Absent: None
Motion carried.
City Treasurer Welter left the meeting at 9:18 p.m.
�-' ANY AND ALL BUSINESS
City Administrator Lobaito requested the committee consider initiating special
recognition certificates. He cited the recent efforts of several employees relating
the additional workloads created by the unexpected departure of several city
employees. After some discussion it was the consensus of the committee to
recommend to full council the initiation of a certificates of appreciation employee
program.
Motion by Baird , seconded by McClatchey to adjourn the meeting at 9:25 p.m.
Voting Aye: Baird, McClatchey, Murgatroyd
Voting Nay: None
Absent: None
Motion carried.
The meeting was adjourned at 9:25 p.m.
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