Here's how Toledo's mayor plans to offset budget deficit

Reported by Rob Wiercinski email
Posted by Kate Oatis email

TOLEDO (WTOL) - We now know how Toledo Mayor Carty Finkbeiner is planning to offset a multi-million dollar budget deficit.

The mayor's spokesperson tells News 11, three city employees have been laid off, and seven others have been reassigned, as part of the mayor's budget savings plan.

However, the mayor wants to offset the bulk of the general fund deficit by tapping into the CIP budget. A memo given to Toledo City Council includes a list of $13 million worth of capital improvement projects, that council would have to approve closing in order to return that money to the general fund.

That list of potential CIP closeouts includes $1.4 million earmarked for infrastructure improvements around the Southwyck Mall property, $1.2 million for upgrades at the Hoffman Rd. landfill and $400,000 for dredging along the Ottawa River.

"This is the last year such a budget move could be made, due to changes when the 3-quarter percent income tax was renewed by voters back in March," said Councilman George Sarantou, who chairs the finance committee.