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Committee reviews 2025 capital purchases, YTD revenue/expense and bank reconciliations; Safe Streets grant timing clarified
Summary
Finance staff reviewed 2025 capital purchases including a $9.5 million wastewater expansion, year‑to‑date revenues of $875,928 (7.7% increase), and bank balances totaling roughly $23.7 million; staff said the Safe Streets for All grant is reimburseable and reimbursements have been received for the invoiced item discussed.
At the March 18 finance committee meeting, staff walked members through 2025 capital additions, the year‑to‑date revenue and expense reports through February, and bank‑to‑book reconciliations.
Capital and equipment: Staff listed 2025 capital projects and purchases, including the East Granville Street widening ($332,000), the 2025 street improvement program ($866,000) and work related to the wastewater treatment plant expansion (staff listed $9.5 million for the expansion). Equipment purchases in 2025 included a cargo van for the wastewater division, rapid beacons and school‑zone flashers, trailers, mowers and a plow truck; police capital items included a lease payment for a vehicle and a new breathalyzer machine.
Revenues and expenses: Staff reported income‑tax receipts through February totaling $875,928 (an increase of 7.7% versus the same period last year), with withholding at $69,000, individual taxes $205,000 and net profit taxes about $60,000. Expense variances highlighted at >10% included police benefits (HSA funding and workers’ comp), towing and cruiser repair (an insurance claim pending reimbursement), mayor’s court costs and sewer fund supplies and contractual services. Staff explained that some variances are timing issues (for example, semiannual debt payments) while others reflect real increases.
Impact fees and grants: Staff explained that impact fees are driven by new development and that large one‑time development payments (for projects such as Kitner Crossing) will materially raise the year‑to‑date percentage once received. On the Safe Streets for All roadway safety grant, staff said the city fronts costs on a reimbursable basis and that an invoice paid in 2026 related to work from 2025 had already been reimbursed by the federal agency; the higher spending shown is a timing effect.
Bank reconciliation: Staff reported balances as of Feb. 28 of about $12 million at Fifth Third Securities, $3.4 million at Star Ohio and $8 million at First Commonwealth Bank (an interim balance from the transfer), for total deposits and investments of approximately $23.7 million. Outstanding checks were about $171,000, yielding a reconciled bank balance of $23,437,848.81 and a small book‑to‑bank variance staff said has been identified and will be resolved.
Unfinished business and adjournment: A council member asked staff to budget for replacing damaged street trees along Miller Drive and Fairland Drive after several incidents; the committee adjourned after a roll‑call motion.
