More than an hour and a half was spent discussing where the city of Wayne should have its checking account during Monday's meeting of the Wayne City Council.
In May of this year council members began discussing the need to look at options for the city's investment/checking accounts.
At that time, an Audit Committee was tasked with developing criteria for a Request for Proposals (RFP) for the best way to handle the accounts. The name and duties were changed to a Finance/Audit Committee.
The discussion was again brought up after the 2025-2026 fiscal year budget was finalized and the RFP was approved during a council meeting in early November.
The city received three proposals from eligible financial institutions and the Finance Committee met on Dec. 1 to evaluate each on the council-approved criteria.
These came from BankFirst, which proposed a fixed 1.15% rate for five years; State Nebraska Bank, which proposed a fixed 2.00% rate for five years with no fees imposed; and Elkhorn Valley Bank proposed a fixed 3.00% rate for five years with the only fees the city would incur would be wire fire ($5 for each incoming and $20 for each outgoing).
Council member Matt Eischeid, a member of the Finance/Audit Committee told those in attendance that this was a "difficult decision. We are aware of what the banks give back to the community. Our responsibility is for the taxpayer dollars and we have been very transparent in the process."
He said that with the difference in interest rates and the amount of money the city has, on average, in its checking account, the city could get approximately $250,000 in interest over the five year term.
"This is not a personal issue. We need to be responsible with taxpayer dollars and this money would help pay for projects in the community," Eischeid said.
He added "being on this committee has not been fun and it has strained friendships."
Council member Austyn Houser echoed Eischeid's comments, noting that the committee has "had lengthy discussions and is our fiduciary responsibility to be transparent."
Council member Jason Karsky said "this money belongs to the people, not the bank or the city. Should we be acting objectively or subjectively on emotions? This is the most challenging issue we have had in the 11 years I have been on the council."
Speaking during the meeting were three generations of the Ley family on the value State Nebraska Bank has had in the community in its 133 years in business.
Matt Ley shared information comparing the locally owned bank (State Nebraska) verses a branch of a Norfolk bank (Elkhorn Valley Bank).
He talked about how the money invested at State Nebraska Bank trickles back into the community and asked "how can we better the community? What is truly better for Wayne?"
He encouraged the council to look around the community and "see who is there."
Greg Ptacek, owner of Johnny Bryd Brewing, told the council "it sucks being a business owner right now, but I know Matt (Ley) has my back and will be there for me. State Nebraska is doing amazing things and I hope you don't throw that away."
David Ley shared information on State Nebraska's 133-year history in Wayne and noted the bank "took care of the entire community and during the Depression, when two of the three banks that were here went bankrupt, State Nebraska became successful. The subjective part of this issue is our strength."
Mason Ley told the council "My Dad (Matt) is my role model and he encouraged me to be a good person. My goal is to give back to the community that raised me."
Corby Schweers, Chief Lending Officer at Elkhorn Valley Bank, told the council "bankers are passionate and the community is lucky to have that. The city needs to be fiscally responsible with tax dollars. We want to be here long-term and donate our time and money into the community."
Following comments from the audience council members debated how to move forward.
Council member Dallas Dorey said he felt he couldn't make a decision at this time and suggested tabling the item until he could ask questions and get more information.
On a 3-4 vote, council members voted not to table the item with Council members Joe Witt, Jason Karsky and Dallas Dorey voting to table and Council members Austyn Houser, Dwaine Spieker, Parker Bolte and Matt Eischeid voting against tabling.
Council members then voted 3-4 for going with the proposal presented by Elkhorn Valley Bank. Council members Eischeid, Karsky and Houser voted for the proposal with council members Dorey, Witt, Spieker and Bolte voting against.
After more discussion, Council member Bolte introduced a motion to go with the State Nebraska Bank proposal with a 2% interest rate, which was seconded by Council member Spieker. This motion passed on a 5-2 vote with Council members Houser and Dorey voting against.
Monday's meeting began with a presentation of the "Golden Manhole Society Award" by the Nebraska Water Environment Association.
Doug Echtenkamp was the recipient of this award and was recognized for his work in safety, leadership and innovation in operations of the Wayne Water/Wastewater Treatment facility for the past 42 years.
A request to waive the auditorium rental fee for the Wayne City Auditorium for the Christmas Holiday Meal on Dec. 24 and 25.
Several local businesses have worked together to provide a meal, free of charge, to anyone in need of food and fellowship on Christmas.
Council members approved the third reading of two ordinances.
The first of these involved amending the city code in regard to riding lawn mowers, garden tractors and skid loaders and the second involved the use of golf cars. Considerable discussion has been held in recent meetings on the topics, including the age requirements for those driving these vehicles.
Council members also amended the schedule of fees pertaining to the Community Activity Center (CAC). These fees have not been amended since 2015.
The city originally did not want to compete with the fees charged by Providence Wellness Center. However, it was noted the city's fees are "much below" those.
The fees will be raised 20% for the coming year and the council members will re-vist the topic at that time.
Joel Hansen, City Street and Planning Director, gave a brief report on personnel, activities and equipment within the Street Department. He also listed a number of projects his department plans to work on in the coming year.
In other action, council members voted to change the day of the second meeting date in January. The third Monday falls on Jan. 19, which is Martin Luther King, Jr. Day, a federal holiday. The meeting will instead be held on Tuesday, Jan. 20.
The Wayne City Council will next meet in regular session on Monday, Jan. 5 at 5:30 p.m. in council chambers.
