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Detroit budget office presents prelim. FY2025 numbers; projects ~$60.2M unassigned fund balance amid corporate tax uncertainty
Summary
Acting OCFO staff presented an unaudited FY2025 financial report estimating a $60.2 million unassigned fund balance while flagging an $7–8.8 million revenue shortfall largely tied to corporate income taxes and substantial underspending caused by invoice timing.
Donnie Johnson, acting deputy chief financial officer and budget director, told the Budget, Finance and Audit Standing Committee that the city’s unaudited financial results for the 12 months ending June 30, 2025, currently point to an estimated $60,200,000 unassigned fund balance but cautioned the figure is preliminary and subject to year‑end accruals and adjustments.
"These results are still preliminary, they're unaudited and they do exclude material year end accruals," Johnson said while presenting the annualized projection. He said the city was ahead on revenues for the month of June but, on a…
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