Mayor Announces Proposed 2018 Budget
Today, Toledo Mayor Paula Hicks-Hudson presented Toledo City Council with the proposed 2018 Operating and Capital Budgets.
To reduce reliance on the capital fund and stabilize funds available for future city projects, it is imperative that the capital transfer be reduced if not eliminated. Therefore, this budget contemplates a reduction from over $11 million dollars in the prior years’ budget to $5.25 million.
The proposed 2018 budget includes $1,000,000 in funding for a District Improvement Grant Program, $8,750,000 for repaving of residential streets, $1,600,000 for a mill and fill program, and a new police and fire class set to begin in July and August, respectively.
The City Finance department estimates a general fund operating budget of $258,218,000, which is a .03% decrease over the 2017 current expenditure budget. Income tax revenue projection for 2018 is $178,000,000 compared to $173,650,000 for 2017.
“As I prepare to leave office, I am confident that I have left the citizens of Toledo in a better fiscal position than when I started due to budget saving measures, operational changes, and sound fiscal management.” Mayor Paula Hicks-Hudson.
To see the 2018 Proposed Budget, please see link below.