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Detroit FRC City Meeting Minutes February 26, 2024

Detroit FRC City Meeting Minutes February 26, 2024

Detroit Financial Review Commission

CITY REGULAR MEETING

Monday, February 26, 2024, at 1:00 p.m.

Remotely Using Microsoft Teams

Meeting Minutes

Approved April 29, 2024

 

  1. Call to Order
    1. Chairman, Kevin A. Smith called the meeting to order at 1:01 p.m.
  2. Roll Call
  3. Approval of Proposed Minutes from the December 18, 2023, and January 29, 2024, Meetings
    1. Motion made by Commissioner Walsh and supported by Commissioner Rose to approve the draft minutes of the commission’s December 18, 2023, and January 29, 2024, city meetings. The commission unanimously approved the minutes of the December 18, 2023, and January 29, 2024, as presented.
  4. Executive Director’s Report
    1. Patrick Dostine stated that based upon the city’s monthly financial report for the six months ending December 31, 2023, the city continues to remain in compliance with all statute relevant to the waiver status.
    2. Mr. Dostine briefly talked about the city’s February 12 Revenue Estimating Conference. Speaking about the recurring GF revenues, Mr. Dostine said revenues are projected to increase 2% to 3% through FY28. Mr. Dostine also noted the mayor will be presenting the FY25 budget to city council on March 7, which kicks off the annual budget adoption process.
  5. Old Business
    1. None
  6. New Business
    1. None
  7. City’s Monthly Financial Report for six Months ended December 31, 2023 – FYI Only
    1. Staff from the OCFO’s office of the city of Detroit discussed the above-mentioned financial report and addressed questions from the commissioners.
  8. Public Comment
    1. Mr. William Davis
  9. Next Meeting Date
    1. City Regular Meeting: Monday, March 25, 2024, at 1:00 p.m. using Microsoft Teams.
  10. Adjournment
    1. There being no further business, the meeting adjourned at 1:30 p.m.

Roll Call:

Members Present

  • Dr. J. Barnwell
  • Hakim Berry
  • Angelique Peterson-Mayberry(non-voting)
  • Ron Rose
  • Kevin Smith
  • Dr. Vitti (non-voting)
  • John Walsh

Members Absent

  • Jen Flood
  • Jay Rising
  • Mary Sheffield