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Council votes to close multiple dormant funds cited by auditors
Summary
Ordinance 64-2025, closing multiple dormant funds identified by the finance department and auditors, was adopted after suspension and waiver of reading. Finance Director Tom Reynolds told council some funds had no activity for up to 20 years.
Olmsted Falls City Council on Dec. 9 moved to suspend rules, waive the reading and adopt Ordinance 64-2025 to authorize the closure of multiple dormant funds identified by the finance department and auditors. The council voted to adopt the ordinance by recorded poll (7 ayes; 0 nays).
Finance Director Tom Reynolds said these are "the last few that the city is working to spend down" and noted that some funds have been inactive for as long as 20 years. The ordinance was presented as a housekeeping measure recommended to the council following audit review; the minutes record the council's unanimous approval that evening.
