Toledo finds extra money in city budget, plans investment in roads

Toledo finds extra money in city budget, plans investment in roads
(Source: WTOL)

TOLEDO, OH (WTOL) - Mayor Paula Hicks-Hudson delivered good news to the city of Toledo Wednesday.

In a letter, the mayor said the city had more than $5 million more in the general fund at the end of 2016 than at the end of 2015.

In a press conference, officials say some of the extra money came from income tax collections, reduced workers' compensation claims and healthcare cost savings.

With more money in the budget that originally thought, the mayor discussed how these dollars would be spent.

She says $4 million will go for capital projects. Of that, $2 million would go for residential street repaving, $500,000 for sidewalks and $1.5 million for equipment replacement.

""This is really good news for us and we're moving slowly, but surely to a stronger financial picture," Mayor Hicks-Hudson said.

The city will also put some of the money into a rainy day fund and reduce the transfer from the capital improvement fund from $11 million to just $3 million.

Toledo residents have their own plans of what to do with the extra money, including opening more metroparks.

"More metroparks. I mean this is beautiful out here," said Joshua Carroll. "It's a Wednesday evening and I get to spend time with my son out here fishing."

Another resident brought up using the money to fight the heroin crisis.

"They should probably open up more clinics for the users in the city and I see there's not enough of that," said Richard Leroux.

The city submitted their year end financials for 2016 to the Auditor of the State and expect the final numbers by mid-June.

Once the audit is complete the mayor will propose the additional funds for residential road repavement, sidewalks, and equipment replacement.

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