City of Toledo Finance Director Resigns

TOLEDO, Ohio - The finance director for the city of Toledo has resigned. 

George Sarantou stepped down from the position on Wednesday, a position he'd held since 2014. His resignation comes after the discovery of more than $8 million in the city budget.

In a letter submitted to Mayor Paula Hicks-Hudson, Sarantou said he has been honored to serve the citizens of Toledo. He went on to explain that he did not want his presence to be a continued distraction for the administration.

"While honesty compels me to believe that I was not, in any way, the cause of these issues, my dedication to his great City compels me to realize that it would be best for the Department of Finance and the City of Toledo if I step down as Director at this time," Sarantou wrote. 

Mayor Hicks Hudson released the following statement in announcing Sarantou's resignation:
"I have accepted the resignation of Finance Director George Sarantou. The City needs to move forward.  Director Sarantou has been a colleague and a friend and has always served in the best interest of the City of Toledo.  George has taken this course because of his love for the City for which I continue to admire him.”

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