Each member of the governing body shall receive for his or her services and as reimbursement for his or her expenses, compensation as follows:
(a) Mileage at the same rate as is established every January 1 by law by the IRS for state employees for each mile traveled by the shortest route upon the performance of duties assigned by the Mayor and/or Council; and/or
(b) Reimbursement for actual food and lodging expenses upon the performance of duties assigned by the Mayor and/or Council is $25/day per diem for overnight meetings, provided such expenses shall be documented by proper receipts.