Laserfiche WebLink
<br />MINUTES OF THE FINANCE COMMITTEE <br />JUNE 5, 2023 <br />AUDITORIUM <br />Present: Councilmembers Shachner & Bullock <br />Also Present: Councilmembers Rader, Marx, Finance Director Rancatore, Assistant Finance <br />Director Shuster, Law Director Vargo, Mayor George <br />Call to Order: 7:09 p.m. <br /> <br />Chair Shachner mentioned that Councilmember Kepple has an excused absence. <br />Approval of the minutes of the March 20, 2023 meeting of the Finance Committee. <br /> <br />A motion was made and seconded to approve the minutes of the March 20, 2023 meeting of the <br />Finance Committee. All members voted in favor. Motion passed. Minutes were approved. <br /> <br />ORDINANCE 14-2023 - AN ORDINANCE to take effect immediately provided it <br />receives the affirmative vote of at least two thirds of the members of Council, or <br />otherwise to take effect and be in force at the earliest period allowed by law, <br />st <br />authorizing the transfer and advance of certain funds. (1read & referred to Finance <br />05/15/23) <br /> <br />Director Rancatore explained that the transfers outlined within the ordinance are routine and <br />planned as part of the 2023 budget. He noted that water and sewer funds will be transferred to <br />cover the debt service payments for water and sewer projects. General Funds will be transferred <br />to cover Winterhurst and the Office on Aging. He noted that quarterly transfers were not being <br />made this year regarding the personnel benefits of Court employees as these expenses were <br />budgeted differently this year. <br />Motion made and seconded to recommend Ordinance 14-2023 for approval. All members voted <br />in favor. Motion passed. Ordinance 14-2023 recommended for adoption. <br />*** <br />Director Rancatore explained that the following three resolutions pertain to the County Budget <br />Commission. All three pieces of legislation are required by Ohio Revised Code to levy property <br />taxes. Property tax comprises 21% of the city’s General Fund. Director Rancatore remarked that <br />this is a more significant proportion than other communities and provides a good diversification <br />that is attractive to the investment community. He underscored that the city has not adjusted tax <br />rates since 2003 and is not proposing any increase for the 2024 calendar year. <br />RESOLUTION 2023-26 - A RESOLUTION to take effect immediately provided it <br />receives the affirmative vote of at least two thirds of the members of Council, or <br />otherwise to take effect and be in force after the earliest period allowed by law, <br />1 <br /> <br /> <br />