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1 MINUTES OF THE FINANCE COMMITTEE FEBRUARY 9, 2026 COUNCIL CHAMBERS Present: Councilmembers Baker ( Chair), Bullock, Strebig Also Present: Councilmembers Kepple, Hamilton Steiner, Bixenstine, Evans, Finance Director Mahoney, Mayor George, Planning Director Byington, Law Director Vargo, Council staff Call to Order: 7:04 p.m. Approval of the minutes of the December 15, 2025 Finance Committee meeting. A motion was made and seconded to approve the minutes of the December 15,2025 Finance Committee. All members voted in favor. Motion passed. Minutes approved. ORDINANCE 04-2026 - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the transfer and advance of certain funds. (1st read & referred to Finance 1/20/26) Vice President Baker summarized the proposed first quarter transfers and advances ordinance, noting that funds from the General Fund were being transferred to Winterhurst and Office on Aging and that wastewater improvement fees were being transferred to the debt service funds that pay for that related infrastructure. Regarding the federal funds listed in the ordinance including CDBG, ESG, and others, Director Mahoney explained that those funds were going into the General Fund as a way for the City to pay itself back for funds not received at the end of 2025. In response to questions, Director Mahoney added clarifying details regarding transfers and advances. Councilmember Bullock asked for more information regarding how the City is subsidizing Winterhurst over time. Director Mahoney said that the City is maintaining level funding but that she would confirm. She said it was possible that high utility costs could drive up the amount of transferred funds. Motion made by Vice President Baker, seconded by Councilmember Strebig to recommend Ord. 04-2026 for adoption. All members voted in favor. Motion passed. ORDINANCE 05-2026 - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the Director of Finance to enter into Equipment Leases in forms approved by the Director of Law on behalf of the City of Lakewood (“ City”). ( 1st read referred to Finance 1/20/26) Docusign Envelope ID: 309F1711- 9B7B-4CB1- 8DCC- 8D603510D19E 2 Director Mahoney explained that the vehicle leases in question are essentially loans that will be repaid over five years. The list of 11 vehicles being financed is listed in exhibit A. All were included in the 2026 budget. The cost listed for each vehicle in exhibit A is the total cost paid over five years. Director Mahoney provided additional details on the timing and financial mechanism. She explained how the City earns 3% interest on this arrangement. In response to a question from Councilmember Evans, Director Mahoney responded that in an effort to take out less debt than previous years, the City paid some vehicle expenses in cash this year. In response to additional questions, Director Mahoney reiterated that what is being referred to as a lease is actually a loan. It will be fully paid off in five years and the City is not intending to roll it into notes or bonds. Motion made by Vice President Baker, seconded by Councilmember Strebig to recommend Ord. 05-2026 for adoption. All members voted in favor. Motion passed. ORDINANCE 37-2025A - AN ORDINANCE to take effect January 1, 2026, provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, to provide for creating positions and rates of pay for full-time and certain part-time annual salaried employees and hourly rate employees not covered by a collective bargaining agreement in the several departments, divisions and offices of the City of Lakewood, including the Chief of Fire, Chief of Police and Civil Service Commissioners and superseding all prior salary ordinances. ( 1st read & referred to Finance 1/20/26) Chair Baker summarized the proposed ordinance, noting that the Public Information Officer position is being moved to a higher salary band and that license and certification stipends are updated to match the stipends provided in the collective bargaining agreements. Director Mahoney explained that the salary ordinance was introduced to Council prior to approval of the collective bargaining agreements. Now that the collective bargaining agreements are approved, the Administration is proposing to provide equal stipends for union and non-union employees with the same credentials. In response to a question about the Certified Municipal Clerk and Master Municipal Clerk credentials, Director Mahoney explained that an edit was made because they were listed twice in the original ordinance. Motion made by Vice President Baker, seconded by Councilmember Strebig to recommend Ord. 37-2025A for adoption. Chair Baker questioned the status of the City Architect position listed in the ordinance. Docusign Envelope ID: 309F1711- 9B7B-4CB1- 8DCC- 8D603510D19E 3 Mayor George affirmed that the City has not filled the City architect position in several years after the departure of the previous city architect. She said that the position was newly created and after the incumbent left, it was determined that it would be left unfilled. On the motion: All members voted in favor. Motion passed. Communication from Councilmembers Bullock, Hamilton Steiner, and Evans regarding continued work on 2026 Council budget priorities. ( referred to Finance 1/20/26) A motion was made and seconded to receive and file the communication. All members voted in favor. Motion passed. ORDINANCE 33-2025A - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, to establish appropriations for current expenses and other expenditures of the City of Lakewood, State of Ohio, for the fiscal year ending December 31, 2026. ( 1st read & referred to Finance 1/20/26) Chair Baker introduced Ordinance 33-2025A, noting that it seeks to adjust appropriations to the 2026 budget and that there is also a proposed substitute on file. Councilmember Bullock explained that the proposed ordinance intends to carry out the Council priorities that had the highest levels of support expressed during Council retreats. He explained the nature of the substitute, which he proposed after consulting with the Law and Finance Departments. He explained that instead of changing the 2026 appropriations, as proposed in the original version, that the substitute ordinance proposes using the whereas clauses to articulate Council’ s priorities and funding them from the economic development fund. He clarified that the proposed substitute restores the original budget numbers in exhibits A and B. Councilmember Bullock explained that the Economic Development Fund is projected to have 1.5 million and should have more than enough to absorb the proposed additional $ 520,000 in new spending. He added that $520,000 would be the maximum amount spent, as the legislation is written with “ not to exceed” language. Director Mahoney remarked that while she does not necessarily condone the proposed new purchases, her priority is to maintain the structural integrity of the budget, and that this compromise is one way to achieve that. She added that she and Councilmember Bullock agreed to check in in June to incorporate Council’ s budget priorities in the 2027 budget. Chair Baker added and that while Council and the Administration have established a good budget process over the years that there are more opportunities to improve and collaborate upon that process. He encouraged starting early and collaborating early so there are no surprises. He stated that Councilmember Bullock’ s work has moved Council and the Administration toward a more constructive approach headed into 2027. Docusign Envelope ID: 309F1711- 9B7B-4CB1- 8DCC- 8D603510D19E 4 President Kepple expressed appreciation to Councilmember Bullock and Finance Director Mahoney for their collaboration and thoughtful process. She added that the retreats she has designed were intended to identify and organize priorities early and that she intends to do the same this year. Chair Baker applauded President Kepple’ s retreat process and committed to taking the next steps to integrate it with the work of the Administration. Councilmember Evans stated support for the package of budget ordinances and expressed enthusiasm for a more collaborative approach with the Administration this year. Chair Baker clarified that Councilmember Bullock’ s proposed substitute Ordinance 33-2025A does not change appropriations but clarifies Council’ s legislative intent to spend certain amounts from the economic development fund. Motion by Chair Baker, seconded by Councilmember Strebig to substitute Ordinance 33-2025A with the new version provided in Granicus. All members in favor. Motion passed. Ordinance 33- 2025A substituted. Councilmember Bullock flagged a typo in the dollar figures, stating that he intended to propose 60,000 for traffic calming, rather than $50,000 as written. Motion by Councilmember Bullock to amend substitute Ordinance 33-2025A to strike $50,000 for traffic calming in the whereas clause and replace it with $60,000. Motion seconded by Chair Baker. All members voted in favor. Motion passed. Motion by Chair Baker, seconded by Councilmember Strebig to favorably refer the substituted and amended Ordinance 33-2025A to Council. All members in favor. Motion passed. ORDINANCE 34-2025A - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the Mayor, the Director of Law, the Director of Finance, the Director of Public Works, the Director of Planning & Development, the Director of Human Services, the Director of Human Resources, or the Procurement Officer to enter into contracts for professional services, and to advertise for bids and enter into contracts for the purchase of repair, maintenance and operating supplies, services and equipment as authorized by the 2026 Appropriation Ordinance and the Administrative Code of the City of Lakewood with the lowest and best bidder or bidders or as otherwise provided by law. (1st read & referred to Finance 1/20/26) ORDINANCE 36-2025A - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the Mayor ( Director of Public Safety), the Director of Public Works, the Director of Law, the Director of Finance, the Director of Planning & Development, and/or the Purchasing Manager to enter into service contracts in accordance with the Administrative Code of the City of Lakewood for the Department of Planning & Docusign Envelope ID: 309F1711- 9B7B-4CB1- 8DCC- 8D603510D19E 5 Development in accordance with the Administrative Code of the City of Lakewood, contracts not to exceed the specified amounts shown without separate resolution of Council. ( 1st read & referred to Finance 1/20/26) At the invitation of Chair Baker, Councilmember Bullock explained how his package of legislation addresses both contracting authority and appropriations. Ord. 33-2025A addresses appropriations and 34-2025A and 36-2025A address the corresponding contracting authority. Contracting authority identifies the specific purpose of the funding and which department is spending it. He reviewed the specific changes in the contracting authority Clerk Bach pointed to a typo in Ordinance 36-2025A where the list of directors authorized to enter contracts does not match the list in the other budget- related ordinances. Motion by Chair Baker, seconded by Councilmember Strebig to favorably refer Ordinance 34- 2025A to Council. All members in favor. Motion passed. Motion by Chair Baker, seconded by Councilmember Bullock to amend the title and Section 1 of Ordinance 36-2025A to strike the language and replace it with “ the Mayor, the Director of Law, the Director of Finance, the Director of Public Works, the Director of Planning & Development, the Director of Human Services, the Director of Human Resources, or the Procurement Officer.” All members in favor. Ord. 36-2025A amended. Motion by Chair Baker, seconded by Councilmember Strebig to favorably refer amended Ordinance 36-2025A to Council. All members in favor. Motion passed. Finance Committee adjourned at 7:48 p.m. Approved: Kyle Baker, Chair Finance Committee Maureen M. Bach, Clerk of Council 3/2/2026 Docusign Envelope ID: 309F1711- 9B7B-4CB1- 8DCC- 8D603510D19E