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Finance report: council hears $22 million cash balance, ambulance fund moves and possible water/sewer rate review this fall
Summary
The finance committee reported $22 million in city bank balances with $7.5 million encumbered, plans to move $1 million from the ambulance fund into a money‑market account, another $1 million moved to long‑term investment at Red Tree, and an alert that water and sewer rates may need review in September.
FOSTORIA, Ohio — At its meeting the Fostoria Finance Committee reported a cash position that the committee described as "$22,000,000 in the bank," with $7,500,000 encumbered and about $14,500,000 available. The committee briefed council on short‑ and long‑term moves intended to improve returns on idle funds and on possible utility rate…
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