TOLEDO, OH (Toledo News Now) - Toledo Mayor Mike Bell is expected to release the proposed 2013 operating budget at a press conference 2 p.m. Monday in the City Council chambers at Government Center.
While the budget of 2013 is significantly less challenging than 2010, the coming fiscal year will realize only modest recovery in Toledo at a slow and steady pace. Public safety continues to be the focus of the city's financial proposal with a recommendation for another police and fire class to be hired in 2013. There is currently a police class at the academy and a fire class will begin Dec. 3. Both will graduate in 2013 in advance of proposed new classes.
The administration also continues to keep an eye on the city's capital needs. Officials anticipate presenting a CIP budget in December that will include $32 million in major street and residential road construction, resurfacing, and renovations to Fire Station 3, as well as construction of a new Fire Station 12.
Modest growth is expected in income tax revenues, however, cuts in local government funds, estate taxes and property taxes granted to the city, will still need a transfer from the CIP to the general fund. Between 2011 and 2013, the city will see a loss of $14.7 million. Without these lost revenues, the CIP transfer would not be necessary.
The mayor, finance staff and other key administration officials will make comments and answer questions at the press conference Monday.
Copyright 2012 Toledo News Now. All rights reserved.