Fostoria City Council eyes revenues for 2015
FOSTORIA During its finance committee meeting Tuesday evening, Fostoria City Council accepted the amount of the 2015 budget.
Steve Garner, director of finance, said he expects revenue to increase about 3.9 percent from 2014 to 2015, with a General Fund revenue total of nearly $6.2 million. Garner also expects to end the next fiscal year in the black.
Garner restated that Fostoria recently had been awarded the SAFER grant, which allows the city to hire eight more firefighters, at a cost of more than $1.17 million over the next two years.
According to Garner, significantly lower interest rates on the city’s investments remain a reason the city has struggled financially since the start of the recession. Interest earned on the city’s investments dropped from $131,014 in 2008 to $9,901 in 2013.
During the regular meeting, Mayor Eric Keckler reminded the council and the public that Fostoria’s annual Summer Fest will be Friday and Saturday downtown.
In other news, the council:
Approved the minutes of the last meeting.
Adopted an ordinance amending a section of the codified ordinances of the city of Fostoria relating to the duty to keep the city’s sidewalks clean.
Adopted an ordinance repealing a 2012 ordinance regarding the height of fences around pools and hot tubs.
The next meeting of the Fostoria City Council is set for 7:30 p.m. Aug. 5.