Two protesters were arrested after members of the Ontario Coalition Against Poverty stormed a City of Toronto budget meeting Thursday morning.

About 50 people were at City Hall to protest planned cuts to homeless shelters and the TTC. One man has been charged with assaulting a police officer, while another is facing a charge of obstructing justice.

The city's budget has been a hot topic as officials try to balance the books.

The city could sell off assets to fill a projected $500-million budget shortfall it's facing next year, the National Post reports.

Councillor Doug Ford says the city could sell assets such as real estate to raise funds to fill the projected budget gap.

Meanwhile, Mayor Rob Ford says he wants to privatize any city service that "isn't nailed down."

Officials tell The Post that funding shortfalls over the last few years have been filled with surpluses, reserve money and one-time emergency funding from other levels of government.