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City finance director reviews revenues, utility funds and Moody's upgrade; income tax growth cited
Summary
Painesville's finance director briefed council on the finance department's responsibilities, anticipated income tax receipts of about $12 million for 2025, recent switch in banking to Dollar Bank to reduce fees, and a recent upgrade to the city's credit rating by Moody's.
The city finance director presented a financial overview to Painesville City Council on March 3, summarizing revenues, utility funds, audits and a recent bond rating upgrade.
The finance director said the city manages cash, utility billing and investments and assists the auditor of state with audits. He reported income tax receipts are trending upward and…
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