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City financial report: revenues trending above expectations; HUD awards $346.8 million in disaster recovery funds
Summary
Deputy budget director Donnie Johnson and Deputy CFO Nikhil Patel reported that through the nine months ending March 31, 2025 the city’s revenues are tracking to outperform budget while expenditures are below estimates; HUD awarded $346,846,000 in CDBG-DR funds and the administration projects roughly $71.9 million in over-collection for the year.
Detroit — City officials told the Budget, Finance and Audit Standing Committee that Detroit’s finances are generally on track for fiscal year 2025 as revenues continue to outperform projections and expenditures run below estimates, while several one-time and timing items are shaping the city's cash position.
"We are on the whole continuing to be on a good track. Our revenues are still on track to over perform on an annual basis and our expenditures are on track to underperform," Deputy Budget Director Donnie Johnson said during the committee meeting.
Johnson and Nikhil Patel, deputy chief financial officer and treasurer, reviewed the fiscal nine‑month report ending March 31, 2025. Key items the administration highlighted include…
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