OSWEGO, NY – The Common Council voted 5-2 Monday night to authorize the mayor to execute an agreement with three+one services to provide a financial analysis for the city and to approve the transfer of funds from the contingent account to pay for the service.
Voting no were Council President Eric VanBuren and Second Ward Councilor Pat McLaughlin.
At last week’s committee meeting, Mayor Billy Barlow said that three+one services will provide proprietary reports and data that can be used internally and externally to achieve higher income on the city’s low- and non-performing operating dollars.
Through a comprehensive liquidity analysis, three+one will identify and quantify the time horizon and worth of all operating capital, which can be used to achieve new sources of income through the city’s financial institution, the mayor added.
The deal will cost the city $9,900.
However, if three+one doesn’t find $50,000 in savings, the initial analysis fee is waived,” Barlow pointed out.
Either party may cancel services with at least a 30-day written notice after the first year.
I did not like their proposal,” VanBuren told Oswego County Today following the meeting. “Checked a few of their references; they have some additional fees built in.”
When he questioned a representative, he “didn’t slake any of my concerns,” he added. “I had concerns that I didn’t feel were addressed.”