May 19, 2025

Detroit Financial Review Commission

REGULAR CITY MEETING

Monday, May 19, 2025, at 1:00 p.m.

Remotely Using Microsoft Teams

MINUTES

1. Call to Order
   1. Chairman, Kevin A. Smith called the meeting to order 1:00 p.m.
2. Roll Call
   1. Let the record show that seven (7) Commission members eligible to vote were present. A quorum was present.
3. Approval of the Proposed Minutes from the April 28, 2025, Regular City Meeting
   1. Motion made by Commissioner Rose and supported by Commissioner Blaszkiewicz to approve the draft minutes of the Commission’s April 28, 2025, City meeting as presented. The Commission approved the minutes as presented.
4. Executive Director’s Report
   1. Patrick Dostine, Executive Director, informed the meeting that the city of Detroit remains in good standing with the financial review commission. He reported after reviewing the financial report for the month ending March 2025, the city remained in compliance with all statute relevant to its waiver.
   2. He further reported that the city forwarded an approved Four-Year Financial Plan to the FRC’s office.  The FRC finance sub-committee met on April 30, and a summary of the meeting was included in the commissioners’ meeting packets.
   3. Mr. Dostine told commissioners that the city’s CFO and her team would present a PowerPoint that walked the commission through key financial numbers and operations and would make a case for an eighth consecutive waiver. The waiver meeting is scheduled for June 30, 2025.
   4. Mr. Dostine reported that Mayor Duggan appointed Tanya Stoudemire as the city’s CFO, and council unanimously approved the appointment at its full board with enthusiastic applause.
5. Old Business
   1. None
6. New Business
   1. City’s Year-eight Waiver Renewal Request – Presentation
      1. Donnie Johnson, deputy budget director, and John Naglick, chief deputy CFO/finance director at the city made a detailed presentation to the Commission. The presentation included: an overview of Detroit economic outlook, the revenue estimating conference; FY 2026 adopted budget and the four-year financial plan; and the rainy-day fund.    They also gave a detailed overview of the City’s ability to borrow/credit ratings; noting that S&P affirmed the City’s BBB rating, and the city is waiting for Moody’s to issue its report. They addressed questions from the Commission.
   2. City’s Monthly Financial Report for nine months ended March 31, 2025 – FYI Only
      1. The commissioners were invited to review the above-mentioned report and forward any questions they may have to the OCFO’s office.
   3. Public Comment
      1. Michelle George
      2. William Davis
7. Next Meeting Date
   1. City Regular Meeting: Monday, June 30, 2025, at 1:00 pm, remotely via Microsoft Teams.
8. Adjournment
   1. Motion made by Commissioner Blaszkiewicz and supported by Commissioner Stoudermire to adjourn. The Commission approved the motion to adjourn.
   2. There being no further business, the meeting adjourned at 1:56 p.m.

Roll Call

Members Present -7

• Dr. Barnwell
• David Blaszkiewicz
• Jen Flood
• Ron Rose
• Kevin Smith
• Tanya Stoudemire
• John Walsh

Absent – 4

• Akim Berry
• Mary Sheffield
• Dr. Vaughn
• Dr. Vitti (non-voting on city matters)