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Findlay council approves ad hoc investment committee after months of questions over city investment reporting
Summary
Council voted to form an ad hoc committee to review city investment strategy, reporting and transparency after repeated requests from council members and disagreement about the appropriate forum to handle the matter.
Findlay City Council on July 15 approved creation of an ad hoc investment committee to review the city’s investment policies, reporting practices and strategy after a letter from three council members requested an expedited review.
Councilman DeArmond introduced the request, saying the goal is to “evaluate communication, transparency, reporting, accountability, and strategy” around municipal investments. The motion to create the ad hoc committee passed on a roll call vote with six members recorded as voting in favor and four opposed.
Why it matters: Council has statutory responsibility over municipal investments. The request followed months of questions from council members…
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