Mayor Michael P. Bell today sent to members of Toledo City Council and the City's union leadership an updated forecast for 2010 revenue and the current state of the anticipated deficit. That information is attached electronically to this release. To date the administration has identified $25.6 million in deficit reduction measures.
The Mayor met on Wednesday with the union leaders to present them with the potential cost savings to be achieved through employee concessions, which would affect all employees in all funds and agencies. The concessions and deficit reduction measures, coupled with the ballot initiatives the administration has proposed for council action would remediate the 2010 deficit without seriously affecting the level of service provided to Toledo residents. All measures would nevertheless pursue a long-term improvement in the efficiency of internal operations for the City of Toledo.
On Thursday the administration will meet with representatives from the State Auditors office and on Friday there will be a budget working meeting with members of the administration, city council, department directors and union leaders. Public input sessions are also being scheduled to allow citizens the opportunity to offer suggestions and weigh in on the service priorities they feel need to be addressed.
The Mayor has committed to providing multiple draft budget scenarios to City Council by March 1 to allow them time for discussion and action before the March 31 deadline.