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Auditor: $2 million transfer completed; general fund close to one months expenses
Summary
Auditor Sabrina Smith reported that a $2 million transfer tied to ordinance 2026-01 moved money from the CET Fund to the General Fund on Feb. 2; she said the general fund balance is about $500,000, which does not cover the citys estimated one-month expenses, and noted ongoing GAAP statement work and a forthcoming State of Ohio audit.
Auditor Sabrina Smith told council the Auditor's Office is closing January and is finalizing reconciliations and reports for Ohio Checkbook. Smith said a $2 million movement for ordinance 2026-01 was completed on Feb. 2, moving funds from the CET Fund to the General Fund. She said the general fund balance is roughly $500,000 and may not cover one months expenses without anticipated receipts.
Smith also said the city is preparing 2025 GAAP statements with third-party auditors and that the State of Ohio will conduct periodic audits (the citys schedule places it on a two-year audit cycle in this instance). Check runs continue one to two times per week, with more frequent runs at month or quarter boundaries.
