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<br />MINUTES OF THE FINANCE COMMITTEE <br />SEPTEMBER 18, 2023 <br />Auditorium <br />Present: CouncilmembersShachner(chair), Kepple, Bullock <br />Also Present: Councilmembers Marx, Rader, Baker, Mayor George, Law Director Vargo, <br />Finance Director Rancatore, Purchasing Manager Byrne, Public Works Director Gordon, Fleet <br />Manager Holmon <br /> <br />Call to Order: 5:50 P.M. <br /> <br />Approval of the minutes of the June 5, 2023 meeting of the Finance Committee. <br /> <br />A motion was made and seconded to approve the minutes of the June 5, 2023 meeting of the <br />Finance Committee. Councilmembers Shachner and Kepple voted in favor. Motion passed. <br />Minutes approved. <br /> <br />ORDINANCE 16-2023 - AN ORDINANCE to take effect immediately provided it receives <br />the affirmative vote of at least two thirds of the members of Council, or otherwise to take <br />effect and be in force at the earliest period allowed by law, authorizing the transfer and <br />advance of certain funds. (1st read & referred to Finance 7/17/23) <br />Finance Director Rancatore delivered a brief summary of Ordinance 16-2023. He commented <br />that the 2023 budget transfers are routine and planned for. <br />Motion by Chairman Shachner, seconded by Councilmember Kepple, to recommend Ordinance <br />16-2023 to Council for approval. All members in favor. Motion passed. Ordinance 16-2023 <br />recommended to Council for approval. <br /> <br />ORDINANCE 18-2023 - AN ORDINANCE to take effect immediately provided it receives <br />the affirmative vote of at least five members of Council, or otherwise to take effect and be <br />in force after the earliest period allowed by law, establishing new purchasing limits in line <br />with the Ohio Revised Code for the City of Lakewood. (1st read & referred to Finance <br />Committee 9/5/23) <br /> <br />Finance Director Rancatore, Law Director Vargo, and Public Works Director Gordon <br />collaborated to give a presentation on Ordinance 18-2023. Finance Director Rancatore began the <br />presentation by explaining the new Ohio State Law, ORC §9.17: <br /> Increases the threshold that municipalities can make purchases without competitive <br />bidding to $75,000, which is effective through 2024. <br /> Provides for a 3% increase each year thereafter. <br /> <br />Chairman Shachner asked whether this 3% increase to the purchasing limits is automatic or <br />discretionary. Law Director Vargo responded that the increase is discretionary, but will confirm <br />that information. <br />1 <br /> <br /> <br />