TOLEDO, OH (Toledo News Now) – Toledo City Council is debating whether or not the city has money to place into its rainy day fund.
The mayor's office said the city finished 2011 with a $326,000 budget surplus, but some members of council don't see it that way.
Council members George Sarantou and Mike Collins are challenging the administration on this surplus claim. They say the mayor's office is referring to restricted funds, which can only be spent on certain items – and therefore cannot be placed into the Budget Stabilization Fund.
City council looked at the issue during their final meeting of the year.
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