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Finance director: Lima on target but drawing down reserves; hiring freeze, capital hold and other realignment steps ordered
Summary
Finance Director Mary Foster presented a mid‑year (Jan–Aug 2025) review showing revenues and expenditures on track against an adjusted eight‑month comparison, a $6 million use of general fund reserves to date, and proposed controls including a hiring freeze (instituted Sept. 6), overtime limits and a temporary capital hold.
Mary Foster, Lima’s finance director, presented the city’s mid‑year financial report covering January through August 2025, telling council the city is generally on target but must realign after a reduction in cash balances following ARPA drawdowns.
Key figures Foster reported: - General fund revenues through Aug. 31, 2025: $29,100,000 (compared with a full‑year budget of $41,400,000). - Expenditures through Aug. 31, 2025: $32,600,000 (full-year budget $50,300,000). - After adjusting budgets to an eight‑month basis, revenues were $1.5 million better than budget and…
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