City Council’s finance committee gave a positive recommendation Tuesday for use of a financial strategic management planning grant awarded by the state Department of Community and Economic Development.

The grant requires a 70/30 match and no more than $33,000 required for the match, Mayor Derek Slaughter said.

“This is the study I wanted to see,” Councilwoman Bonnie Katz said. “It will save us time and money and get an accurate analysis of the cost to run the city.”

The next step pending council’s review is to get with the department and to interview each financial firm that has submitted a proposal, Slaughter said.

Match money will come from use of a Community Development Block grants, River Valley Transit and, if needed, liquid fuels funds, he said.

The department counts “in-kind” service as part of the match, he said.

The committee also gave a positive recommendation to accept a lease agreement between the city and Williamsport Crosscutters.

The grant and lease proposal will be reviewed Thursday by council.