Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance staff reports Ohio Checkbook updated; IRS review centers on missing 1099s
Summary
City finance staff told the Budget & Finance committee the Ohio Checkbook is current, detailed the May month-end reconciliation and disclosed an IRS review prompted by missing 1099s for payments tied to 2022.
City finance staff reported to the council's Budget and Finance meeting that the municipal Ohio Checkbook online posting is now current and that staff completed the month-end reconciliation for May while continuing work on related items.
The update is significant because it surfaced a previously separated Fifth Third Relief Fund holding $178,826.52 and identified outstanding checks and timing differences that explain apparent discrepancies between the software (books) and bank balances. Staff also told the committee an IRS review has focused on missing 1099 forms for contractor payments from 2022 that were not issued in early 2023; that omission prompted federal inquiry and could expose the city to tax-related liabilities if vendors do not…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
