Weirton facing ‘cash flow issues’
WEIRTON — City officials are grabbing their umbrellas in an effort to address what has been described as “cash flow issues.”
The city’s Finance Committee met in an emergency session Monday evening, immediately convening into an executive session for 45 minutes.
Upon reconvening into regular session, Ward 3 Councilman Fred Marsh, who serves as chairman of the committee, announced a discussion was held concerning “cash flow issues.”
Marsh said the issue would be further addressed during the Finance Committee’s next regular meeting, currently scheduled for 10:30 a.m., March 4.
“The finance director and city manager will present a number to come from the Rainy Day fund to cover current invoices until the cash flow improves,” Marsh said.
No other discussion was held, or comments made, during open session.
In addition to Marsh, Ward 6 Councilman Enzo Fracasso and Ward 7 Councilman Terry Weigel — also members of the committee — were in attendance, as well as City Manager Joe DiBartolomeo, Assistant City Manager DeeAnn Pulliam and Finance Director Diana Smoljanovich.
Ward 5 Councilwoman Flora Perrone also was in attendance, but did not participate in the executive session.
The discussion comes as the city is working to prepare its budget for the next fiscal year, a process which typically is concluded by the end of March.
(Howell can be contacted at firstname.lastname@example.org, and followed via Twitter @CHowellWDT)