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Norwood commission declines to accept 2025 financial recovery plan, sends it back for revisions
Summary
On March 31 the City of NorwoodFinancial Recovery Commission voted unanimously to not accept the city's proposed 2025 financial recovery plan, citing missing fund schedules and calculation discrepancies. The commission asked the administration to correct the plan and return it to council and the commission for final approval.
The Financial Recovery Commission for the City of Norwood voted unanimously March 31 to not accept the city—s proposed 2025 financial recovery plan and returned it for corrections and resubmission.
Mayor Eric Schneider presented the plan to the commission and reviewed its major elements, including a Montgomery Road water-main replacement, a large home stormwater project supported in part by Hamilton County, a Lincoln Avenue restoration, and capital requests for police cruisers, fire apparatus and mobile data computers. Schneider said the plan incorporates staffing and collective-bargaining agreements recently concluded and described the document as "a living, breathing document" that will require ongoing adjustments. "I'd like to say the plan is perfect ... but it doesn't work that way," Schneider said.
Why it mattered: commissioners and the state auditor—s office flagged two required items missing from the submitted package (street and state-highway fund schedules) and a mismatch in an insurance assumption in the written…
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