City to take $1M from reserves

WEIRTON -- City council plans to shift $1 million from Weirton's rainy-day fund to assist with a reported cash flow issue, which officials have said is the result of slow collections following the holidays.

During a meeting Wednesday, members of the city's Finance Committee recommended a resolution authorizing City Manager Joe DiBartolomeo to transfer the funds from the Financial Stabilization Consolidated Investment Account to the city's general fund.

Ward 3 Councilman Fred Marsh, the chair of the Finance Committee, explained the money will be set aside and drawn from if needed.

He emphasized the city was not in any financial difficulty.

"We're ahead of the curve," Marsh said.

The issue was first raised during an emergency Finance Committee meeting Feb. 24, and then against during a special city council meeting Feb. 28.

Following the special council meeting, Mayor Harold Miller explained the issue was the result of slower-than-anticipated fee and tax collections following the holiday season. DiBartolomeo, Wednesday, agreed, saying the issue is just a matter of when revenue is coming in.

"It's a timing issue," he said. "We have money."

According to Finance Director Diana Smoljanovich, the city will still have approximately $2 million in the Rainy Day fund following the transfer.

In other budgetary matters, the committee recommended revisions to the 2019-2020 fiscal year general fund budget.

Also recommended by the Finance Committee, Wednesday:

¯ A resolution with Core Environmental Services for environmental services for the Public Works Department for $9,457

¯ A resolution for the software warranty for the Coban in-car cameras and body worn cameras for the Weirton Police Department, in the amount of $7,238.04

¯ A resolution for a contract with Pulice Construction for the demolition of property at 4109 Washington St., at a cost of $13,900

¯ A resolution to support the Festival of Nations, to be held March 21, with a contribution of $825.

(Howell can be contacted at chowell@weirtondailytimes.com, and followed via Twitter @CHowellWDT)