Toledo Regional Chamber Of Commerce: Mayor's 2022 Budget To Be Reviewed By Toledo City Council

Press release from the Toledo Regional Chamber of Commerce:

Tim Schneider

11/30/2021

​​​​By Tim Schneider, Toledo Regional Chamber of Commerce Toledo City Council will review Mayor Kapszukiewicz’s proposed 2022 general operating budget proposal at its meeting at 2:00 p.m. today. The Mayor first announced and publicly shared the details of his budget plan about two weeks ago which is available at www.toledo.oh.gov/2022budget. ​The proposal includes budgeted general fund expenditures of about $279.1 million which is close to expected expenditures for the current year. It is balanced by using a transfer of $18 million from the Capital Improvement Program fund and by reducing general fund reserves by $1.1 million.Income taxes, the largest source of general fund revenue, is budgeted to generate about $190.2 million which is nearly $4.3 million more than what is expected for the current year. Separately, about $18.8 million is budgeted for residential roads via the 0.25 percent income tax designated for this purpose.With his budget plan, the Mayor also announced plans for reorganization of City departments. This includes a new Department of Transportation, a new Department of Building & Code Compliance, and a new office of Safety Director that will oversee safety services including police and fire.The proposal is expected to be referred to committee for further review. Toledo law requires that a budget be adopted annually by March 31. City Council meetings can be attended in person in Council Chambers at One Government Center in downtown Toledo, and can be viewed via video.​The Toledo Regional Chamber of Commerce will continue to review the City’s 2022 budget proposal and potential implications for businesses as more detailed information is available.

This press release was produced by the Toledo Regional Chamber of Commerce. The views expressed here are the author’s own.