The state of Ohio and Lucas County auditor recently released their annual comprehensive financial report of 2022 for the county, including various figures, tables and statistics that illustrate the economic changes within the county.
The audit’s summary noted the area’s shift away from the glass and automotive industries, writing that Lucas County has “become increasingly diversified, especially in the solar and alternative energy sectors, transportation and logistics, and medical services.”
It also highlighted the downtown Toledo area’s growing residential demand, citing the development of multiple warehouses and office buildings that have been converted into both market-rate and high-end residential spaces.
Several major programs were included as part of the county audit. While the fund balance for the county’s Mental Health and Recovery Services Board significantly increased, other public assistance programs slightly decreased in compensation. Overall, the fund balance slightly increased, signaling a period of overall economic success.
The Board of County Commissioners maintains a minimum of 15 percent of the available general fund revenue as a cash reserve in the event of sudden economic downturn.
Anita Lopez, county auditor, wrote that the audit was “a result of the continued cooperation and combined services of the elected officials and management of Lucas County,” thanking the various members of the auditing staff and the commissioners for making the publication possible.
