Council spent a significant amount of time on Thursday discussing our 2023 budget and a presentation from our Finance Department related to our current position and economic trends that were taken into consideration for the planning of the 2023 budget. Overall, the City is in a good financial position and we have spent the last several years making investments into our City along with paying down debt from prior years. We incurred a small amount of short term debt to purchase the property for the driving range, however the overall debt in the City continues to be paid down each year since our record high in 2008. There is an expectation that with recent inflation that an overall recession is highly probably, though the expectation for duration of such recission is still very much unknown. The City of Stow also money from the American Rescue Plan Act (ARPA Funds) that need to be committed and spent over the next several years. These ARPA Funds do have restrictions as to what they can be used on. Several projects approved in 2022 will likely be funded with ARPA Funds, this includes a new firetruck, computer upgrades for several departments, stormwater improvements on Englewood, and water tower improvements. We will continue to review the 2023 budget and plan on having a final budget in place for 2023 prior to the end of 2022.
Council approved the initial plans for improvements at the recently purchased driving range, this includes an expanded range that will be used for instruction with improved tee boxes, bunker, and target greens. The new improvements will also include irrigation in the new range space, something our current range does not have. These improvements will take place this fall and early spring 2023, with this space being allowed to settle and grow grass through July 2023 until it is available for use. Once this new area is opened for use then improvements will be made on the current driving range space to make similar improvements to that area. This was in our 2023 capital budget and will allow for additional income from our driving range now that it is a City owned asset.
Council also approved the appointment of two new Commission on Inclusion members that will join that City commission once they are able to be sworn in. Pam Hunt and Michael Lamboy are both being appointed to fill vacancies that occurred on the commission. Both residents have strong experiences in this area and I am sure will be welcome voices on the Commission. Congratulations Pam and Michael!
Council also approved entering into the Ohio Department of Transportation municipal bridge inspection program. This program provides inspection for 11 “smaller” bridges that the City is responsible for maintaining across the City. While referred to as bridges, many of these may look like large culverts to our residents. We have had a few issues with some of these types of bridges in the last several years and also do not currently have a program to inspect them beyond normal road maintenance review. These should help us to be proactive in knowing of necessary maintenance of such bridges along with potentially being able to get additional state funding for such maintenance.
Council will meet once during the month of November on Thursday November 10, 2022 with Committees starting at 5:30 PM and Council meeting to follow.