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City projects roughly $78.3 million year-end surplus, committee hears monthly financial report
Summary
Deputy budget director reported a strong cash position and projected a year-end surplus after council's budget actions; the committee was briefed on recent supplemental budget amendments and a court ruling allowing retirement benefit changes for police and fire.
City budget staff told the Budget, Finance and Audit committee that Detroit is tracking toward an estimated $78.3 million year-end surplus after the council's recent budget actions and supplemental amendments.
"We're still anticipating $39,200,000 over collection in revenues," Deputy Budget Director Donnie Johnson said in a presentation on the monthly financial report for the eight months ended Feb. 28, 2025. He said the city expects an overall ending surplus of about $78.3 million and that cash balances remain robust,…
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