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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 with "then‑and‑now" purchase orders at year end—vendors submit invoices dated Jan. 1–5 that the accounting system cannot process until the prior year is closed. As a workaround, staff said the city can load temporary appropriations to allow processing, then finalize with the usual appropriations cycle, though the two‑step approach adds administrative work.
Staff also said they are revising cash handling procedures for the Police Department to reflect actual operations; the department keeps a small teller drawer for low‑value transactions (no more than about $75).
On appropriations timing, staff requested the council consider suspending a third reading on an appropriations ordinance so county certification of year‑end balances can occur and the city can proceed with final appropriations. Councilors indicated that scheduling the requested action for tonight would be helpful, and staff said they could submit materials to the auditor for certification.
The presiding officer raised finance director compensation and asked to discuss the matter in executive session with counsel. Council members agreed to review comparable compensation data and to continue the personnel discussion with the full council and counsel.
Councilors praised a recruitment brochure for the finance director vacancy and agreed on tentative recruitment dates: application deadline Jan. 25, candidate ranking Jan. 26 (special meeting), first‑round interviews March 9–10, and second‑round interviews March 12. The committee will convene for personnel interviews in executive session.
A motion to adjourn carried on roll call and the meeting ended at 5:49 p.m.
