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Councilmember urges finance committee review of city investment policy

Findlay City Council · February 17, 2026

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Summary

Councilmember DeArmond asked the finance committee to revisit the city's investment policy, saying the current language grants the city auditor broad authority over a large portfolio and lacks checks and balances; he recommended seeking an investment advisor and amending policy language to restore council governance.

Councilmember DeArmond raised concerns about the city’s investment policy during the municipal reports section, asking the finance committee to review and revise the policy to add checks and balances.

DeArmond said the existing policy (required by the Ohio Revised Code) designates the city auditor as the investment manager and grants broad authority to buy, sell and sign investment contracts. He said that when written roughly 30 years ago the council delegated authority to the auditor but that modern practice generally includes oversight by a finance committee and the use of external investment advisors. He noted the city’s investment portfolio is sizeable and suggested the finance committee work with the financial advisor to propose policy revisions and consider hiring an investment advisor.

Council supported referring the matter to the finance committee for further review; staff and the financial advisor were asked to provide legal and technical information at the next finance committee meeting so council can consider updated language that clarifies who governs investment policy and appropriate checks and balances.