Michigan commission weighs renewal of Detroit's oversight waiver bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.
Detroit firefighter: Speed city s pension payments over 20 years to avoid 2034 shortfall
Michael Berent
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Michael Berent, a Detroit Fire Department sergeant, is chairman of the board of trustees for the Police and Fire Retirement System of the city of Detroit.
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Detroit firefighter: Speed city s pension payments over 20 years to avoid 2034 shortfall
Detroit City Council OKs 2021-22 budget, raises for city workers
Detroit The City Council approved a $1.1 billion budget for the 2021-22 fiscal year that includes raises for city workers and funding to bolster skilled trades training for city residents.
The council voted 8-1 Wednesday in favor of the general fund spending plan, with Council Member Raquel Castaneda-Lopez casting the lone no vote, noting her disagreement with the prioritization of investing in the Detroit Police Department over critical social services.
The budget approval comes as the city works to recover from a massive financial blow from the COVID-19 pandemic that cost Detroit more than $410 million in revenues over a 16-month span.
Detroit Mayor Duggan unveils key budget priorities to City Council detroitnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from detroitnews.com Daily Mail and Mail on Sunday newspapers.
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Detroit City Council members listen to Mayor Mike Duggan s budget proposal on Friday over Zoom.
With the strain of the coronavirus pandemic looming over the city of Detroit, Mayor Mike Duggan remained hopeful as he proposed a budget for the city s coming fiscal year while money is tight and preparations are needed for looming pension obligations.
The second-term mayor s administration plans to resume supplemental payments to the fund it s building up to cushion payments starting in fiscal 2024 to pay off legacy pension debt following the city s 2013-14 bankruptcy. It also allocates more money to beleaguered and praised entrepreneurial program Motor City Match, reduces home repair funding compared with last year and gives $2.5 million for a new homeownership program.