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Finance committee approves minutes, discusses purchasing and hiring timeline; opts to discuss compensation in executive session
Summary
The finance committee approved prior meeting minutes, reviewed year‑end purchase‑order and cash‑policy issues, discussed suspending a third reading on appropriations for county certification, set tentative hiring dates for a finance director search, and agreed to discuss compensation in an executive session with counsel.
The Fostoria finance committee began by approving the digital minutes from the previous meeting after a motion and second. On the roll call, Cassidy voted "Yes," Podak voted "Yes," and the presiding officer announced an abstention; the minutes were approved.
Staff updated the committee on operational finance matters. The finance officer said the city likely generated almost $800,000 in interest income last year but that the budget conservatively forecasts between $500,000 and $600,000 for the coming year. Staff explained a timing problem…
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