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City reports midyear operating surplus, projects narrow annual shortfall as budget season approaches
Summary
Detroit's acting budget director said the city posted a $35.6 million revenue surplus and a $43.9 million operating surplus through Dec. 31, while projecting an end‑of‑year revenue undercollection of roughly $13.8 million; officials urged caution ahead of the mayor's FY27 proposal.
Acting Deputy Chief Financial Officer and Budget Director Donnie Johnson and Acting Treasurer Valerie Agoli briefed the committee on the six‑month financial report for the period ending Dec. 31.
"For the eleventh straight year, Detroit home values are up," Johnson said, noting a citywide average increase of about 10% that added roughly $500 million in homeowner wealth. Agoli told members the city was running ahead on revenues as of Dec. 31 with a $35.6 million…
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