Finance - June 15, 2026

The City of Solon's Finance Committee met on June 15, 2026, to discuss several procurement and budget-related items. Key actions included approval of legislation to establish a separate accounting fund for adult use cannabis host community revenue, ensuring proper tracking within the general fund. The committee also approved a master tax-exempt lease purchase agreement with Key Government Finance for vehicle acquisitions supporting the city's capital plan. Budget amendments were approved for operating and capital appropriations, including a NOPEC grant-funded HVAC repair project at the dance studio. Additionally, legislation was passed to authorize the Finance Director to secure financing for a previously approved vehicle purchase. The committee approved payments via then and now certificates for various city expenses, including water reclamation chemicals. Financial reports indicated income tax collections were slightly below budget projections, but no immediate budget cuts were recommended. The meeting concluded with an update from the Economic Development Director on business retention and attraction efforts, noting positive engagement with local businesses and some out-of-state expansion interest.