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Findlay treasurer reports fall in investments, warns of tighter capital planning
Summary
Treasurer told council the city's investment balance fell from about $105 million to about $98 million and said general-fund unappropriated cash dropped to $26.1 million; officials discussed capital-planning timing and potential impacts of flood-mitigation costs.
The City of Findlay’s treasurer reported to council on Feb. 4 that total city investments dropped from roughly $105,000,000 to about $97,000,900 and that the general-fund unrestricted balance at the start of 2025 stood at about $26,100,000, down from roughly $31,000,000 the prior year. The treasurer said the city projects year-end balances could decline toward $20,000,000 if current trends continue and cautioned council to watch supplemental appropriation requests closely.
The treasurer also said state rules limit the city’s rainy-day reserve calculation, and he expects to reduce that reserve by about $170,000 (bringing it under $2,000,000) to remain in compliance. On revenue projections, the auditor’s income-tax office has forecast a roughly $6,000,000 business net-profits tax return for 2025, a level the treasurer called unusually high and said a conservative figure (about $4–4.5 million) would be more typical.
City administration and council discussed capital planning timing. Mayor Murn said departments had submitted requests and staff had just received auditor numbers for capital allocations; appropriation meetings and a capital review are expected in the next few weeks with a goal to present a capital plan for council review in early March. City staff noted two one-time transfers in December — a $3,000,000 income-tax refund outflow and $2,200,000 set aside for flood mitigation — and an earlier $1,600,000 payment related to a fire truck purchase. The mayor said officials will continue monthly reviews with departments to identify dollars that can be returned to the unappropriated fund balance.
Council members urged quicker capital planning and regular updates. Council Member Frisci asked for a schedule and suggested bimonthly finance summaries; service and finance staff agreed to provide more frequent updates as departments reconcile budgets. Officials noted that interest-earning expectations changed: 2024 budgeted interest of about $1.8 million actually came in closer to $2.4 million; staff estimated interest revenue for 2025 at about $900,000 given lower cash balances.
Council and staff also discussed ongoing flood-mitigation projects and their funding. The mayor said the city is coordinating with the county and federal partners on a Norfolk Southern/rail-related project, FEMA environmental reviews, and basin/benching projects; each carries contingencies, and the mayor emphasized that any additional funding needs should be handled as a partnership with Hancock County rather than falling entirely to the city.
No formal vote was taken on finance items during this portion of the meeting; staff will return with capital-planning documents and further financial detail.
