FOR IMMEDIATE RELEASE
Powell City Council appoints members to Citizen Financial Review Task Force
(POWELL, Ohio)—Jan. 3, 2018—Powell City Council appointed members to the Citizen Financial Review Task Force during their Jan. 2 meeting. The Task Force will hold their first meeting of the year later this month at the Municipal Building Council Chambers, 47 Hall Street.
The 18-member Task Force will review near-term and long-term capital infrastructure needs and identify potential funding sources. They will also undertake a high level review of the City’s cost-reduction efforts to date, compare service levels and costs to other jurisdictions, consider best practices, and identify possible near-term strategies for additional savings.
“Task Force members make up a cross-section of the community,” said City Manager Steve Lutz. “We look forward to working with the Task Force as they conduct a comprehensive review of the City’s current and future financial position and make recommendations to City Council.”
Members will determine the long-range financial impacts of revenue losses and reductions, structural changes to the overall revenue stream as a result of these reductions, and their impacts to the operating and capital improvement budgets looking forward. They will assess the potential for strengthening long-term revenue prospects through approaches such as increasing the income tax rate, reducing the income tax credit or increasing property taxes and economic development.
A report of findings and recommendations for City Council to consider will be presented by the end of June, 2018.
The Powell Citizen Financial Review Task Force is tentatively set to meet the fourth Tuesday of every month at 7:30 p.m. in the Municipal Building Council Chambers, 47 Hall Street.