Key Achievements

Proven leadership with 28 years of responsible management of the City’s financial resources.

Strategic Financial Leadership

  • Led the City Through Complex Financial Transactions: Guided the City through decades of note issuances, bond issues, voted levies, and refinancing efforts—lowering interest costs and maximizing taxpayer value.

  • Improved Bond Rating and Reduced Borrowing Costs: Elevated the City’s bond rating from Baa-1 to AA2, significantly lowering the cost of borrowing for capital investments in streets, parks, and public facilities.

  • Built Financial Resilience: Created financial flexibility that enabled the City to navigate recessions, emergencies, and strategic opportunities without raising tax rates.

  • Reduced Reliance on Debt: Strategically aligned new borrowing with disciplined repayment, minimizing the need for annual debt issuances for road programs and equipment replacement.

  • Advocated for Early Debt Retirement: Paid off voted bond issues for the library and fire station ahead of schedule, reducing residents’ tax bills.

🏆North Olmsted Director of Finance Carrie Copfer and her team earn the Auditor of State Award with Distinction — for the 11th consecutive year!

Ohio Auditor of State Keith Faber’s Office has once again recognized the City of North Olmsted Finance Department, led by Director of Finance Carrie Copfer, with the Auditor of State Award with Distinction for Fiscal Year 2024.

Each year, the Auditor’s Office conducts more than 4,200 audits across Ohio — and only about 4% of entities qualify for this prestigious award. North Olmsted has now received it every single year since it was created 11 years ago, reflecting the value of consistent financial leadership and accountability for the last 28 years.

Under Carrie’s direction, North Olmsted’s finances have transformed — from once unauditable to a model of fiscal stability, earning recognition year after year for:

  • Clean audits

  • Balanced budgets in all economic climates

  • Strong credit ratings

  • Transparent, responsible financial management

This award honors the hard work of not just the Finance Department, but the administration and council well, supporting the commitment to protecting taxpayer dollars with honesty, efficiency, and care.

As the Auditor’s Office shared, this honor is reserved for governments that “have the people and processes in place that understand fiscal accountability.” North Olmsted has exactly that — and it’s a record of excellence worth continuing.

Budgeting & Financial Controls

  • Implemented Strong Financial Controls: Established conservative budget assumptions and stringent management practices to ensure fiscal discipline.

  • Enhanced Budget Transparency: Selected and implemented a citywide Financial Enterprise Resource Planning (ERP) system, providing departments daily access to budgets and purchasing tools to enhance accountability and efficiency.

  • Improved Financial Reporting: Issued the City’s first Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR), earning annual awards for excellence from the Government Finance Officers Association and Auditor of State.

  • Restored Financial Integrity: Transformed the City’s finances from unauditable to clean audits and award-winning financial reporting.

Innovation & Long-Term Planning

  • Created Specialized Financial Reserves: Initiated key reserve funds, including Budget Stabilization, Separation Pay, 27th Pay, Hospitalization, and Workers’ Compensation funds.

  • Developed Investment Strategy: Authored the City’s Investment Policy and implemented a five-year laddered approach to mitigate interest rate volatility and optimize income.

  • Promoted Economic Development Tools: Encouraged the establishment of Tax Increment Financing, Job Creation and Retention Grants, and serves on the Community Improvement Corporation to position the City for long-term growth.

  • Collaborated on Sewer Rate Modeling: Partnered with consultants to develop a sewer rate model that funds operations and capital needs, maintaining rates significantly lower than the Northeast Ohio Regional Sewer District.

Collaborative Governance & Community Engagement

  • Independent Voice & Trusted Partner in Government: Worked effectively with four mayors, 25 council members, three elected law directors, and 23 administrative directors, fostering collaboration and providing a steady, independent perspective rooted in integrity.

  • Steering Committee Leadership: Served on the Steering Committees for the City’s 2015 and 2025 Comprehensive Strategic Plans, gaining insight into citizen and stakeholder priorities.

  • Records Commission Leadership: Championed the creation of the City Records Commission and led the development of department-specific public records retention policies.

  • Fostered Community Engagement in School Financial Planning: Served on the North Olmsted City Schools Citizens Financial Advisory Committee, collaborating with district leadership to represent community interests, review operating results, and contribute to the district’s five-year financial plan.