Toledo revenues down 11% in 2009

DOWNTOWN TOLEDO - Toledo budget problems for 2009 don't appear to be getting any better.

At Thursday's budget and finance committee meeting, the city says tax revenues are down about 11 percent compared to 2008. That's about the same number they were at in October, so the deficit still sits at around $3 million.

With six weeks left in 2009, it's looking more and more likely that the city will have a deficit carry-over into 2010.

As for the 2010 budget, Councilman George Sarantou said council will likely wait for Mayor-elect Mike Bell before making any decisions.

"Clearly Mayor-elect Bell and his team will have to weigh in on that and see what type of budget they are comfortable with," Councilman Sarantou said. "Seeing that they take office Jan. 4, we are eagerly waiting their input on the budget."

Current Glass City Mayor Carty Finkbeiner's 2010 budget proposal has an estimated deficit of $30.2 million.