SERVING MAPLETON AND MINTO
THE
COMMUNITY NEWS VOLUME 52 ISSUE 30
1 Year GIC - 2.30% 3 Year GIC - 2.40% 5 Year GIC - 2.60% Daily Interest 1.50%
638-3328
THURSDAY, JULY 25, 2019
www.jackfinancial.ca
Mapleton undertakes market compensation review By Aryn Strickland MAPLETON - Council here has approved a list of upper- and lower-tier municipalities it will use to conduct a comparison of Mapleton’s compensation packages. Under its human resources policy, the municipality must approve comparators to be used in compensation reviews, which take place every four years and cost $4,500. A July 9 report from township human resources advisor Steve Ilott recommended a list of 17 upper- and lowertier municipalities to be contacted “in order to ensure we get a broad range of information to ensure the best data is gathered.� The list included the other six lower tier-municipalities
in Wellington and the county itself, as well as: - City of Waterloo; - City of Kitchener; - Township of Wellesley; - Township of Woolwich; - Town of Mono; - Township of Southgate; - Municipality of West Grey; - Municipality of North Perth; - Township of Perth East; and - Township of West Perth. Councillor Michael Martin asked whether council should consider only using lower-tier municipalities for the review. “I was just thinking maybe we could limit this to lower-tier municipalities as opposed to upper tier; maybe just remove Wellington County and Region of
Waterloo altogether,� said Martin. Mayor Gregg Davidson reminded council that in many cases staff will take jobs in those cities and therefore they would be useful for the review. “We had this conversation when Mr. Ilott was here and it’s in regards to staff going to those locations, moving over to better opportunities and the region and the county being two of those locations,� he said. Davidson added, “Now Mr. Ilott has the comparisons. “We understand that the county and the region will probably have higher numbers, but we just want to have that to compare to lower numbers, not necessarily be used in the actual compensation review.�
Magic show - The Bumbling Bert Magic Show in the Community Room at the Harriston branch of the Wellington County Library on July 19 drew a crowd of about 60. CLOCKWISE FROM TOP: Bert drew plenty of laughs with his comedic approach to magic; six-year-old Brynleigh Weber had a chance to be part of the show; no magic act is complete without the appearance of a rabbit. Photos by Patrick Raftis
Township joins investment program MAPLETON - Council here authorized township staff to enter into an agreement with a co-mingled investment initiative, ONE Investment Program (OIP), on July 9. Formed in 1993 by Municipal Finance Officers’ Association (MFOA) and Association of Municipalities of Ontario (AMO), OIP offers municipalities and broader Ontario public sectors more competitive rates of return on investments. The program offers four investment options and a high-interest savings account while also providing no fees or penalties for investment or redemption at any time.
The minimum investment or redemption for any portfolio is $5,000. “It would provide a more comfortable option, should we engage, in terms of looking at determining better options for our surplus funds,� explained director of finance John Morrison. “As you can see with this group, they have banded together some larger municipalities and have developed some expertise in terms of dealing with the legislation.� Currently, most of the township’s surplus funds are earning interest at 2.2% in an RBC Bank account. According to a report prepared by Morrison, “At this time, with the given market conditions, RBC has
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no other investment options that offered a higher return for the cash on hand other than a locked GIC (guaranteed investment certificate) for four years at 2.26%.â€? Other investment options offered by RBC that could offer higher returns fall outside of legislation, the report states. By pooling their money, OIP members, including the City of Barrie and the Town of Whitby, “have gone out into the investment community and obtained better rates,â€? Morrison told council. “If you looked at some of the returns as late as April they are doing the same thing with their pooled monies and SEE MAPLETON Âť 3
Beating the heat - With temperatures soaring over the weekend, the Palmerston Splash Pad was a cool destination for local youngsters. Nathan, left, and Simon Schuttel of Harriston were among those having fun while seeking relief from the heat on July 20. Photo by Patrick Raftis
WEEKLY WAG
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By Aryn Strickland
“Remember, today is the tomorrow you worried about yesterday.� - Dale Carnegie
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