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Council approves year-end finance requisitions: $30,000 software payment and $1,816 pension correction
Summary
Council approved a $30,000 annual payment to the city's accounting software vendor and a $1,816 requisition to correct a pension enrollment error that required amended tax filings for an employee. Finance Director Tom Reynolds explained the need for the reimbursement.
The Olmsted Falls City Council approved two year-end finance requisitions on Dec. 9: an annual payment of up to $30,000 to Software Solutions, Inc. for accounting software management, and a requisition not to exceed $1,816 to cover pension amendments and related fees after a payroll enrollment error.
Finance Director Tom Reynolds explained the pension issue began in 2019 when an employee was placed in the wrong pension system. "When this was corrected, the employee contributed more to the correct pension system and that triggered amended W-2’s and amended tax returns," Reynolds said in the minutes; he added an affected employee lost about $1,200 in federal and state refunds because three of the years were outside the IRS three-year refund window. Council approved both requisitions (software payment motion: Chitester; second: McFadden; pension amendment motion: Chitester; second: Gluss).
