12/14/18 – 5:09 A.M.
Findlay City Council talked about budget strategies for the future during Thursday’s budget hearings. The Courier reports much of the discussion focused on the year-to-year carry-over balance. Findlay expects to have a $10.7 million cash balance going into 2019.
City Safety Director Paul Schmelzer says the cash balance “isn’t that big,” considering they project the city’s general fund operating budget will be around $30 million next year. City Auditor Jim Staschiak agrees. He says bond rating agencies like to see a cash reserve of up to 40 percent of operational expenses for cities the size of Findlay.
Schmelzer says the city administration wants to develop guidelines for use, or non-use of the cash balance in the future.