Toledo Finance Director Resigns

(Toledo, OH) Toledo city officials are looking for someone to manage the taxpayers' money. 

Finance Director George Sarantou stepped down Wednesday, just weeks after more than $8 million was found sitting idle for years in the city budget. The funds were improperly tied to Toledo's debt service fund and existed before Sarantou's tenure. 

In a statement, the mayor says the resignation allows the city to move forward. Sarantou also served as a long-time Toledo city councilman before term limits forced him from office. He became a top city administrator shortly after leaving elected office.

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