Canfield City Council is considering an ordinance on June 17, 2026 authorizing the City Manager and Finance Director to enter into new depository agreements for the city’s active, interim, and inactive funds under Ohio’s Uniform Depository Act. The current five‑year depository agreements expire June 30, 2026, and the ordinance sets July 1, 2026 as the start date for the next depository period, with aggregate maximum balances of up to 10000000 each in active, interim, and inactive deposits. This indicates the city is in the process of selecting or confirming one or more banking institutions to hold and manage its public funds for the next five years.Financial institutions that provide public fund banking, treasury management, cash management technology, and related investment services may still be able to participate or position themselves for this and future terms, depending on where the city is in its selection process when the ordinance is adopted.

Ordinance references Ohio Revised Code Chapter 135 Uniform Depository Act and authorizes designation of one or more eligible public depositories beginning July 1, 2026.