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Detroit FRC City Meeting Minutes June 30 2025

Detroit FRC City Meeting Minutes June 30 2025

Detroit Financial Review Commission

REGULAR CITY MEETING

Monday, June 30, 2025, at 1:00 p.m.

Microsoft Teams

MINUTES

  1. Call to Order
    1. Chairman, Kevin A. Smith called the meeting to order at 1:04 p.m.
  2. Roll Call
    1. Let the record show that six commission members eligible to vote were present. A quorum was present.
    2. Approval of proposed Minutes from May 19, 2025, Regular City Meeting Motion made by commissioner Walsh and supported by commissioner Barnwell to approve the draft minutes of the commission’s May 19, 2025, city meeting as presented. The commission unanimously approved of the minutes as presented.
  3. Executive Director’s Report
    1. Patrick Dostine stated that based upon the city’s monthly financial report for the 10 months ending April 30, 2025, the city continues to remain in compliance with all statutes relevant to the waiver status.
    2. Mr. Dostine told the commission that Moody's on Friday upgraded the city’s credit ratings one notch, with a positive outlook. He quoted Moody’s press release: “The city continues to bolster its financial resiliency and maintain solid operating performance, which will enable it to successfully weather the adverse effects of an economic slowdown, should one occur.” Finally, Mr. Dostine reported that the city was having a press conference on the rating at 2PM that day.
    3. Mr. Dostine told commissioners that over the course of the seventh-waiver year, the city has submitted reports required by statute and by FRC resolution 2018-13, Sec. 3. These reports, other data including the April 30th finance subcommittee meeting with OCFO staff served to inform the Financial Review Commission on statutory requirements the city must satisfy while in waiver status. The city complied and it remains in compliance with all requirements.
    4. Mr. Dostine told Chairman Smith and commissioners that it was his conclusion that the city of Detroit has satisfied all the requirements necessary for its eighth waiver.  
  4. Old Business
    1. None
  5. New Business
    1. City’s request to certify three deficit free budgets and compliance with Michigan Financial review Commission’s Act per MCL 141.1638 (g) (FRC Resolution 2025-01)
      1. Motion made by commissioner Berry and supported by commissioner Rose to certify the City’s three deficit free budgets request and compliance with Michigan Financial Review Commission’s Act (FRC City Resolution 2025-01) as presented.  Motion moved and supported. The Commission approved City Resolution 2025-01 as presented.
    2. City’s request to approve granting a waiver per MCL141.1638 (2) (FRC Resolution 2025-02)
      1. Motion made by commissioner Rose and supported by commissioner Berry to approve the City’s waiver request (FRC City Resolution 2025-02) as presented. Motion moved and supported. The Commission approved City Resolution 2025-02 as presented.
    3. City’s Financial Report for the 10 months ended April 30, 2025 – 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.
  6. Public Comment
    1. None
  7. Next Meeting Date
    1. City Regular Meeting: Monday, July 28, 2025, at 1:00 p.m. using Microsoft Teams
  8. Adjournment
    1. Motion made by commissioner Walsh and supported by commissioner Rose to adjourn. Motion moved and supported; the commission approved the motion to adjourn.
    2. There being no further business, the meeting adjourned at 1:28 p.m.

Roll Call

Members Present

  • Dr. J. Barnwell
  • Akim Berry
  • Ron Rose
  • Kevin A. Smith
  • Tanya Stoudemire
  • John Walsh

Members Absent

  • David Blaszkiewicz
  • Jen Flood
  • Mary Sheffield
  • Dr. N. Vitti
  • Dr. Corletta Vaughn