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Council advances multiple finance items: retirement incentive, firefighter contract and bank depository designations
Summary
The Finance & Personnel committee moved several items to full council: a proposed retirement incentive (up to $30,000 per employee options) to reduce healthcare liabilities, a three‑year firefighter contract with wage reopener clauses, Title 17 municipal income tax updates reflecting HB 96/ORC, and designation of depositories (Chase and Hocking Valley Bank) for active funds.
The Finance & Personnel committee advanced a package of finance items to full council on Feb. 9 after presentations from administration staff.
Retirement incentive: Director Stone outlined a program offering up to $30,000 per eligible employee through one of several options (pretax VBA payments, a taxable cash option, or OPERS service credit buyouts for OPERS‑eligible employees). The administration estimated a maximum potential cost of $540,000 over three years if 18 employees accepted the full $30,000 offer, and projected potential long‑term savings in healthcare liabilities (rough illustrative figure cited). The program would require employees to indicate participation by April 15 and to retire by May 31 if they opt in. The committee voted to move the proposal to full council for final consideration.
Firefighter contract and Title 17: Committee reviewed highlights of a new firefighters’ agreement (three‑year term, 3% wage increase, reopeners for years 2 and 3 on wages, clarifications on overtime and leave, insurance/prescription changes). The committee moved the contract to full council for final action.
Designating depositories: Treasurer staff recommended designating Chase Bank and Hocking Valley Bank as depositories for active city funds and increasing per‑bank active money limits (proposed up to $15,000,000). The committee moved the depository designations to full council for resolution next week.
Then and Now certificates: The committee also moved Auditor‑recommended Then and Now certificates (payments that fell before January budget completion) to full council by voice vote. No final appropriations were enacted at committee; items will appear on the full council agenda for final votes.
