The mayor of Brooklyn announced his resignation Thursday night at the village board meeting.

Nathaniel O'Bannon III , who had been mayor of the village since 2005, cited the village's financial problems as the reason he decided to step down.

Village administrative assistant Victoria Young also resigned Thursday through a letter sent to the board. Treasurer Ronnie Steele has also left his post.

O'Bannon was elected twice to his position. He told the Village Board of Trustees that the resignations came after the Internal Revenue Service told him city officials could be personally liable for nearly $70,000 that Brooklyn owes in back payroll taxes.