DETROIT (WXYZ) — Detroit Mayor Mike Duggan announced a $105 million budget surplus Monday, marking the city's 11th consecutive year of financial growth more than a decade after emerging from bankruptcy.
Watch Simon Shaykhet's video report:
At a press conference, Duggan stood alongside City Council members and other leaders to discuss how the funds will be used and the city's continued financial recovery.
RAW VIDEO: Mike Duggan holds final news conference as Detroit Mayor
"In addition to the $105 million surplus from this year, we have $550 million in reserve," Duggan said.
The announcement is part of the city's continued commitment to protecting public safety, improving city services, and thriving post-bankruptcy. The $105 million figure is significantly higher than a prior estimate of $60 million from September, resulting from what officials call strong collaboration with council and city department heads who came in under budget.
Mary Carmen Munoz with the Southwest Detroit Community Group Latin Americans for Social & Economic Development praised the mayor's financial management but pointed to areas needing more attention.
"The mayor and his team have done an excellent job," Munoz said.
However, she emphasized the need for more support for vulnerable populations.
"The senior citizens face such financial burdens. Older homes that need new roofs. Assistance with minor home repairs," Munoz said.
Downtown, another Detroit resident highlighted homelessness as a priority.
"We are homeless, we need it. Give more money to the homeless," Jerry said.
Mayor-elect Mary Sheffield pledged to continue focusing on neighborhoods while maintaining the city's improved credit rating and supporting retiree pension protection.
"One of the things our administration will really be honing in on is marketing Detroit. It's drastically changed and isn't the same as 12 years ago," Sheffield said.
City officials say department heads will continue managing funds effectively to avoid economic disasters.
"Our consistent surpluses and strong reserves absolutely bolster our ability to protect services," said Tate.
Duggan took a moment to reflect on Detroit's transformation since its financial oversight period.
"When we were in financial oversight, the whole tone out of Lansing was Detroit can't manage their own affairs. Now, look at what's happening in Detroit and Lansing and wonder who needs the emergency oversight," Duggan said with a laugh.
Watch our previous coverage from Duggan's last few months
—————————————————————-
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
