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Akron budget amendment paused after staff outlines higher-than-expected COLA costs and plan to draw $8 million in ARPA interest
Summary
Committee took time on an amendment to the 2025 appropriation after staff said cost-of-living increases and wage pressures require adjustments; staff proposed drawing about $8 million in ARPA interest to supplant general fund balance and noted Project Acorn and reimbursable grant activity.
The Budget & Finance Committee took time on an ordinance to amend the city’s 2025 annual appropriation after staff outlined several drivers of the request, including higher-than-expected cost-of-living increases and wage pressures across departments.
Mister Wheeler asked Teresa Klein, the city’s audit and budget manager, to distribute memos explaining the requested amendments. Wheeler told the committee the largest single driver is…
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