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Detroit FRC City Meeting Minutes March 27, 2023
Detroit Financial Review Commission
CITY REGULAR MEETING
Monday, March 27, 2023, at 1:00 p.m.
Remotely Using Microsoft Teams
Approved: April 17, 2023
- Call to Order
- Chairman, Kevin A. Smith called the meeting to order at 1:04 p.m.
- Roll Call
- Let the record show that five (5) commission members were present. A quorum was not present at this meeting.
- Approval of the Proposed Minutes from the February 27, 2023, Regular City Meeting
- In the absence of a quorum at the March 27, 2023, meeting, it was agreed that approval of the February 27, 2023, City of Detroit meeting minutes will be tabled for the April 17, 2023, meeting.
- Executive Director’s Report
- Patrick Dostine, Executive Director, informed the meeting that in reviewing the city’s monthly report ending January 31, 2023, the city continues to pay its debt obligations, remains in compliance, and there is no reason to consider rescinding the waiver at this time.
- Mr. Dostine reported that Mayor Duggan presented the FY24 budget to city council on March 3 and council began its budget hearings. Mr. Dostine told commissioners that next steps for the FRC regarding the city’s waiver renewal is to hold in late April, early May both the finance- and contracts subcommittee meetings. Mr. Dostine also provided an update to the commission on the city’s motion to enforce the POA and the 30-year amortization for PFRS. The hearing was held March 15 in the US Bankruptcy Court Eastern District. A written decision from Judge Tucker is pending. Lastly, Mr. Dostine informed the commission that the city budgeted its first contribution to the legacy pension systems in the FY 24 budget. That amount is $149 million.
- Old Business
- New Business
- Public Comment
- Michelle George
- Next Meeting Date
- City Regular Meeting: Monday, April 17, 2023, at 1:00 p.m., using Microsoft Teams.
- Motion made by Commissioner Walsh and supported by Commissioner Barnwell to adjourn. The commission approved the motion to adjourn.
- There being no further business, the meeting adjourned at 1:23 p.m.
Members Present – 5
- Dr. J. Barnwell
- Ron Rose
- Kevin Smith
- Jeremy Vidito (non-voting)
- John Walsh
Members Absent –5
- Chris Harkins
- David Nicholson
- Angelique Peterson-Mayberry(non-voting)
- Jay Rising
- Mary Sheffield