Bell to release 2012 Toledo operating budget

Press Release from City of Toledo:

Bell to release 2012 operating budget

Toledo Mayor Michael P. Bell will release his proposed 2012 operating budget at a press conference beginning at 2:30 p.m. on Tuesday, November 15, 2011 in the Mayor’s Office Suite on the 22nd floor of Government Center.

The city continues to face strained revenues and a structural deficit. The budget recommendation are anticipated to include a hiring freeze for non-safety personnel, the need for contract concessions to be achieved during current negotiations with four of the city’s bargaining units, and small police and fire classes late in the year.

The city will again see decreased local government revenue sharing. Additionally, 2012 is the last year the city may transfer CIP funds to the general fund under the current authorization by voters. The state of Ohio will also phase out the estate tax beginning in 2013.