Beavercreek council approves supplemental appropriations; finance staff cites higher-than-expected bond returns fees and vehicle repair costs

Beavercreek City Council on May 27, 2025 approved Ordinance 25-11, a single-reading ordinance authorizing supplemental appropriations, certification of additional revenue and interfund transfers for the 2025 fiscal year.

City finance staff told council the adjustments reflect several items identified since the budget was adopted. First, the city’s investment management moved late in 2024 to a third-party service (Bondtech), which charges an investment fee that the city is budgeting as an expense rather than netting it against interest income; staff requested an additional $6,500 for that account. Second, a vehicle in the city fleet was involved in an accident; insurance reimbursed the city for damages, but the vehicle-maintenance account needs an additional $26,000 to cover repairs. Staff also described grant-funded purchases through the Ohio H2O chloride-reduction program for the street department, and noted the cash-bond account has exceeded the budgeted amount: the city budgeted $115,000 but has returned $194,000 so far this year and needs an appropriation adjustment.

Council asked whether the Bondtech fee is flat or variable; staff said it varies with investments and returns. There were no public comments on the ordinance. The council approved the ordinance in a single-reading roll call vote.

Staff said the adjustments are routine midyear budget housekeeping to reflect actual activity and grant awards and to ensure sufficient appropriations are in place for operations and bond returns.