Title
A RESOLUTION AUTHORIZING ADVANCES OF LOCAL TAXES.
Brief Description: Ohio Revised Code Section 321.34, requires all local authorities entitled to advancement of funds must submit a resolution authorizing advances of local taxes each year. This resolution entitles the City to receive tax advances from Summit County for 2024.
Body
Legislative History
The City passes this resolution on an annual basis.
Purpose & Explanation
The purpose is to permit the City to request and receive tax advances from Summit County. The most common advance the City receives is property taxes.
Timing Considerations
The resolution should be passed by year end.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends passage of the Resolution authorizing advances of local taxes. The Resolution should be passed prior to 2023 year-end to be effective for 2024.
Submitted by,
Thomas J. Sheridan, City Manager
Jeff Knoblauch, Assistant City Manager - Finance Director
Brian Griffith, Director - Management & Budget