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January 26, 2026

January 26, 2026

Detroit Financial Review Commission

CITY REGULAR MEETING

Monday, January 26, 2026, at 1:00 p.m.

Via Microsoft Teams

MINUTES

  1. Call to Order
    1. Chairman, Kevin A. Smith called the meeting to order 1:00 p.m.,
  2. Welcome
    1. Chairman Kevin Smith welcomed LaTrice McClendon, school board president of the Detroit Public Schools and James Tate, council President for the city of Detroit to the Financial Review commission monthly meetings.
  3. Roll Call
    1. Let the record show a quorum was present.
  4. Approval of the Proposed Minutes of the December 15, 2025, Regular City Meeting
    1. Motion made by Commissioner Walsh and supported by Commissioner Berry to approve the draft minutes of the Commission’s December 15, 2025, city meeting as presented. The Commission approved the minutes of the city meeting as presented.
  5. Executive Director’s Report
    1. Patrick Dostine, Executive Director, informed the meeting that in reviewing the City’s monthly report the city remains in full compliance with all FRC resolutions and statutes relevant to its waiver status, and the city of Detroit remains in good standing with the financial review commission.He further noted that the city’s FY25 financial statements were completed in December and forwarded to the Michigan Dept of Treasury. The city booked a $105M operating surplus, which is an increase from the earlier projected surplus of $60M, that is 11 straight consecutive operating surpluses for the city, which is an average of $138M per year.
    2. The former mayor at his last press conference in December attributed the operating surplus to strategic fiscal management of his department directors. The previous surpluses were driven largely by growth in income tax and wagering taxes.The city also submitted in December an annual report on its four pension systems, to the Michigan Dept. of Treasury.All four systems are in compliance with Protecting Local Government Retirement and Benefits Act, Public Act 202 of 2017, and these four systems are above 60% funded and the city’s combined ADC as a percentage of governmental fund revenues is 9.5%. The General Employee legacy plan is funded at 63.5%, while the Police and Fire legacy plan is funded at 76.9%. The General Employee hybrid plan is funded at 107.8%, and the Police and Fire hybrid is funded at 94.4%.He also noted that the city’s revenue estimating conference will be convened at 1PM on Friday, Feb. 13th.
    3. The estimates will be used to finalize the FY27 budget. He also informed the meeting that budget priority forums begin today, and Mayor Sheffield will deliver the ’27 budget to council on or around March 7 and approximately 40 plus hearings and executive sessions will be held culminating in a council vote on the ‘27 budget on April 7.
  6. Old Business
    1. None
  7. New Business
    1. None
  8. City’s Financial Report for November 30, 2025
    1. FYI Only
    2. Deputy CFOs in the OCFO’s office, Donnie Johnson and Valerie Agolli gave an overview of above-mentioned financial report and addressed questions from the commissioners.
  9. Public Comment
    1. None
  10. Next Meeting Date
    1. City Regular Meeting: Monday, February 23, 2026, at 1:00 pm. using Microsoft Teams.
  11. Adjournment
    1. There being no further business, the meeting adjourned at 1:32 p.m.

Members Present – 9

  • Hakim Berry
  • David Blaskiewicz
  • Jen Flood
  • LaTrice McClendon
  • Ron Rose
  • Kevin A. Smith
  • Tanya Stoudemire
  • James Tate
  • John Walsh

 

Members Absent –2

  • Dr. J. Barnwell
  • Dr. Nicholai Vitti