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<br />Memo <br /> <br />Date: December 13, 2004 <br />To: Mayor, City Council & Staff <br />Rom: John W. Meyer Finance Director <br /> <br />Cash out of PTO (New Business) <br /> <br />Last year the city council passed a resolution allowing an employee to "cash out" <br />of PTO over 22 days during the 2004 calendar year. Tedd Peterson, Paul Palzer <br />and Teresa Bender have requested this "cash ouf. Teresa was also allowed to <br />"cash ouf her PTO in 2003. Benefits are usually paid at the current salary. Paul <br />and Teresa had their salary increased to serve as co-interim administrators. The <br />issues are: 1, at what rate of pay should the "cash ouf be based on for Paul and <br />Teresa and; 2, should Teresa be able to "cash ouf her PTO if she "cashed ouf <br />in 2003? <br />