Finance Committee « The City of Lakewood, Ohio -
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Finance Committee

Finance Committee

Chair: Shachner
Members: Bullock, Baker

As outlined in the city’s charter and codified ordinances, City Council serves as the primary authority over the expenditure of public dollars and possesses the power of the purse in the City of Lakewood. The Finance Committee plays a leading role in carrying out these duties and responsibilities. The Committee‘s jurisdiction includes drafting, deliberating upon, and passing budget legislation; while conducting oversight on use of funds by the administration and developing financial policies to guide the City.

Each year the Finance Committee evaluates the administration’s proposed budget for the following fiscal year. The Committee holds a series of hearings each Monday from mid-November to mid-December with a goal of recommending the following year’s budget for adoption by the last Council meeting in December.

Every fall, the Finance Committee also serves as a forum for councilmembers to introduce and build consensus around their individual priorities for the following year’s budget. In 2019, the Finance Committee recommended a list of fourteen budget priorities for 2020 focused on parks improvements, environmental stewardship, traffic calming and other quality of life improvements.

The Finance Committee also meets as-needed throughout the year to consider legislation referred to it by Council including any proposed changes to the budget and other Finance-related topics. Any debt issued by the City must first move through a process in the Finance Committee.

Finance Committee Meeting Minutes