Council accepts May financial reports, approves transfers including corrected police pension amount

The Tallmadge City Council accepted May financial reports and approved three transfers to cover specific funds, with the record corrected during the meeting.

Council voted to accept the financial reports, including the appropriation and revenue reports for the period ending May 31, 2025. During the reading of the financial items, Finance Director Jill Gilbride corrected a previously stated transfer to the police pension fund. The final amounts recorded for the transfers to be included in the council record were: fire and EMS transfer of $205,000; street maintenance and repair transfer of $175,000; and a police pension transfer of $87,500. Council approved the financial reports and transfers by a vote of 5-0.

The finance documents accepted into the record included the appropriation report, fund report, revenue report for the period ending May 31, 2025, the Tallmadge Recreation Center profit-and-loss report, income tax reports for May, revenue comparisons for major funds and a consolidated investment portfolio for the period ending May 31, 2025. No additional budgetary actions or program-specific stipulations were made at the meeting; directors noted that income-tax revenues were coming in within budget expectations.