RESOLUTION No. 20-27
REQUIRING THE CITY FINANCE DIRECTOR TO PROVIDE THE MAYOR AND CITY COUNCIL A 5-YEAR FINANCIAL FORECAST ON MAY 15TH AND OCTOBER 15H EACH YEAR AND DECLARING AN EMERGENCY
Sponsored By Councilors: Cleary, Haney, Harvey, Hock, Kline, Pierce, Rist
WHEREAS, the Mayor and City Council need to be kept apprised of the current and future financial condition of the City of Ironton, so as to provide an accurate financial roadmap for the City; and,
WHEREAS, said financial forecast can be used as an early warning system that will indicate if and when financial difficulties may occur; and,
WHEREAS,such forecast will enable the City Council and Mayor to make the appropriate spending decisions prior to financial problems occurring, so as to operate within the City’s financial resources,
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ironton, State of Ohio:
Section 1: That the City Finance Director shall prepare a 5-year financial forecast, which shall be made available to the Mayor and City Council by the 15th day of May each year, with 5-year updates thereafter by October 15th each year.
Section 2: That this Resolution is hereby declared an emergency measure necessary for the public peace, welfare and safety of the citizens of the City of Ironton, Ohio and shall take effect immediately upon passage.
Adopted this __________ day of ____________________________, 2020.