Wednesdays With Wade Newsletter
2022 Budget Submitted
According to the City Charter, the mayor is required to submit his or her budget to Toledo City Council by Nov. 15th each year.
On Monday, I met that deadline, and I am proud to say that the balanced budget proposal I presented City Council allows us to continue to build on our progress while making sure that taxpayer money is spent wisely and efficiently.
The 2022 proposed budget revenues total $890 million and expenditures total $883 million with a general fund budget of approximately $279.1 million. We have proposed a capital improvement to general fund transfer of $18 million and a $1.1 million reduction in general fund balance. Both of these are necessary to preserve essential city services and ensure we are prepared to handle the impact of the income tax changes made by the State of Ohio regarding remote work.
The 2022 budget, coupled with the Toledo Recovery Plan, will allow us to make unprecedented investments in our city. We will invest in the priorities we know are important to our residents: public safety, police, roads, youth opportunities, and business and community development.
For the first time, the budget was created using OpenGov. This tool allows for the creation of the budget, reporting documents, and dashboards that are integrated with SAP, and increases transparency on City of Toledo spending.
The next step is for Toledo City Council to review the budget and work with the administration on its approval. We are anxious to get to work on these critical projects that affect all Toledoans.