The Powell Finance Committee met on Tuesday, March 10, 2026, at 7:00 PM in the Council Chambers at 47 Hall Street, Powell, OH. The committee reviewed the December 2025, January 2026, and February 2026 financial reports, approved Q1 2026 supplemental appropriations for referral to City Council, discussed revenue forecasting methods and the 2026/2027 budgeting calendar, and heard an update on a potential community foundation fund through the Delaware County Foundation. Most items were handled by consensus; no roll-call votes were required.
Note: The raw transcript for this meeting contained garbled or incomplete portions (including the “oncology” discussion and references to OSU coming on board in August), and the agenda listed no minutes for this meeting. The summary reflects the information that could be reliably extracted from the transcript.
Tuesday, March 10th to order. Um roll fall when I call it roll. Sorry. Um Marcus Banisek here. Jennifer Bonifus. Yeah. Yep. Talk counts. Yeah. For Ramsey. Um the next item on the agenda is the approval of minutes. They were included in your materials. Does anybody have any additions or corrections to be made? Okay, if none, we will approve the minutes by consensus. Um now to the financial reports. I'll hand it over to Sam. Um to take it away. Yes, thank you. Um, so just kind of in the interest of time and repetition, we'll probably skip review of January's report since it's only really one month into the new year. Um so I'll start with December and probably go into February. But if there's any specific questions on January, we can always break that up. So as of the year end, December 2025, total operating revenue was 22.5 million. Um, portions of that, so total taxes assessments and related revenue was 19.5 million. That was 102.5% of the budget. Um we were higher than 2024. 2024 taxes, tax revenue was about 95% of the budget. So we were above the budget in 25 versus below it in 24. Um, other revenue in 2025 was 2.4 million. Um that was way above budget, 162% there. We had really strong interest earnings. Um it interest earnings increased 291,000 compared to year to date 2024. So 25 was a good year. That was about a 20% change in interest earnings. Umperating expenditures were below budget. Um personnel was kind of right on track at 93.3% of the budget. Operating expenses a little bit lower at 70.5. Um, but total operating expenditures were 11.9 million, which was 80% of the budget, a little bit higher than last year. Last year we were about 73% of the budget on expenses. So getting a little bit tighter, um, more precise in what we're budgeting and spending on expenditures. Capital equipment costs were $867,000, $460. Um about $75% of the budget. A lot of those larger um capital variances are kind of timing. Um we may have budgeted a larger equipment piece that just didn't get around to getting that appropriation and encumbrance by the end of the year. Um, so some of that is why that those expenses are below the budgeted cost. Um the other kind of larger expense variances that we saw within um mainly operating expenditures were vehicle maintenance, building maintenance, um, some of our contracted services and consulting fees. So I think those are really budgeted um fairly conservatively, so it was probably higher than what we really needed um for the year, so that wise kind of shows the excess. Um then for capital expenditures, we had budgeted 165,000 for a snow plow that was never appropriated and encumbered. Um I don't know if that was I think we're still waiting on a snow plow that we had encumbered, I believe, in 24. So with the timing of that one, I don't think they pursued a second one at that point. Um and I don't that may be uh just at a variance of what was budgeted to because 165 I don't think would get us a new plow.