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February 24, 2025

February 24, 2025

Detroit Financial Review Commission

CITY of DETROIT REGULAR MEETING

Monday, February 24, 2025, at 1:00 p.m.

Via Microsoft Teams

MINUTES

  1. Call to Order
    1. Chairman, Kevin A. Smith called the meeting to order 1:01 p.m. He welcomed Bishop. Dr. Vaughn to the first FRC meeting.
    2. Let the record show that a quorum was present.
  2. Approval of the Proposed Minutes from the December 16, 2024, Regular City Meeting
    1. Motion made by Commissioner Rose and supported by Commissioner Walsh to approve the draft minutes of the commission’s December 16, 2024, city meeting.The commission approved the minutes as presented.
  3. Approval of Proposed Minutes from the January 27, 2025, Meeting
    1. Motion made by Commissioner Rising and supported by Commissioner Blaskiewicz to approve the draft minutes of the commission’s January 27, 2025, city meeting.The commission approved the minutes as presented.
  4. Executive Director’s Report
    1. Patrick Dostine, Executive Director, informed the meeting that in reviewing the City’s monthly report, ending December 31, 2024, the city remains in good standing with the Financial Review Commission and remains in compliance with all statute relative to the waiver.
    2. Mr. Dostine reported to commissioners about the city’s February revenue estimating conference. Recurring revenues for the general fund are projected to increase about 2% per year through fiscal year 2029. The city’s estimates were unanimously adopted by the conference principals.
    3. He also stated that Mayor Duggan would be presenting his 11th [sic] and final balanced budget to city council on Feb. 28, and the city will submit its four-year financial plan to the financial review commission by April 30. Lastly, Mr. Dostine updated commissioners on the city’s motions to amend the plan adjustment. Both motions are now with the bankruptcy court. The court has scheduled a March 19th hearing.
  5. Old Business
    1. None
  6. City’s Financial Report for December 31, 2024 – FYI Only
    1. The Chief Deputy CFO in the OCFO’s office Tanya Stoudemire and John Naglick gave an overview of above-mentioned financial report and addressed questions from the commissioners.
  7. Public Comment
    1. Michelle George
  8. Next Meeting Date
    1. City Regular Meeting: Monday, March 24, 2025, at 1:00 pm. using Microsoft Teams.
  9. Adjournment
    1. There being no further business, the meeting adjourned at 1:19 p.m.

Roll Call

Members Present

  • Hakim Berry
  • David Blaskiewicz
  • Jen Flood
  • Jay Rising
  • Ron Rose
  • Kevin A. Smith
  • Bishop Dr. Vaughn (Non-voting)
  • John Walsh

Members Absent

  • Dr. J. Barnwell
  • Mary Sheffield
  • Dr. Nicholai Vitti