2002 AGN FEB 19 I20 - Laserfiche WebLink

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Item #20 CITY OF COLTON AGENDA REPORT FUH COUNCIL MEEI INU OF February 19, ZUUL TO: HONORABLE MAYOR & CITY COUNCIL APPROVAL: Daryl Parrish CITY MANAGER FROM: MICHAEL WILLIAMS, CITY TREASURER SUBJECT: CONSIDERATION OF SALARY INCREASE FOR TREASURER DATE: February 11, 2002 BACKGROUND: On October 2, 2001 1 made a presentation to the Council regarding my expanded duties since my last salary increase in 1991. Please refer to the attached presentation. DISCUSSION/ANALYSIS: The Colton City treasurer's position is unique in a variety of respects. The position is an elected position with full responsibility for banking, cash management, investing, debt issuance, structuring, restructuring and management. This is accomplished with very minimal support. Other elected treasurer's are either full-time with support staff or are part-time with City staff that actually does the day-to-day functions. In addition, the Colton Treasurer is an integral member of the City financial team and is involved in reviewing and providing input on financial matters. As with treasurer's in the corporate environment, the City Treasurer is involved in debt issues, which the vast majority of City treasurer are not. At council direction some years ago, the treasurer was asked to sit at the dais during council meeting to provide input on financial matters as they were presented. This was instituted because of the contributions made by the treasurer with regard to identifying and publicly speaking about financial problems with the City. I think that the council knows that I will provide my opinion with the best interest of the City in mind. RECOMMENDATION I would request that the treasurer's salary be increased to $3,345 per month, to be effective the beginning of the current pay period (February 18,2002) and approve the attached resolution R-27-o2This is an increase of 3% per year over the salary set forth in 1991, poi&rout consideration of the additional duties.