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September 28, 2026

September 28, 2026

Detroit Financial Review Commission

Regular City Meeting

Monday, September 28, 2026
at 1:00 p.m.
Using: Microsoft Teams

Minutes

  1. Call to Order
    1. Chairman, Kevin A. Smith called the meeting to order at 1:00 p.m.
  2. Roll Call
    1. Members’ Present
      1. Dr. J. Barnwell
      2. Akim Berry
      3. David Blaszkiewicz
      4. Jen Flood
      5. Ron Rose
      6. Kevin A. Smith
      7. Tanya Stoudemire
      8. James Tate
      9. John Walsh
    2. Members Absent
      1. Latrice McClendon
      2. Dr. N. Vitti
    3. Let the record show that 9 Commission members eligible to vote were present. A quorum was present.
  3. Approval of proposed Minutes from August 24, 2026, Regular City Meeting
    1. Motion made by commissioner Barnwell and supported by commissioner Blaszkiewicz to approve the draft minutes of the commission’s August 24, 2026, city meeting as presented. The commission approved the minutes as presented.
  4. Executive Director’s Report
    1. Patrick Dostine stated that based upon the city’s monthly financial report for the 1 month ending July 31, 2026, the city continues to remain in compliance with all statute relevant to the waiver status.
    2. Mr. Dostine Informed the meeting that the revenue estimating conference was held on September 11, 2026. He stated that the conference principals unanimously adopted the revenue estimates from the city, and the estimates cover FYs 28-31. These estimates will be used to begin the build out the FY28 budget and four-year financial plan. The FY28 budget will be the last budget to complete a full cycle under the reduced oversight of the financial review commission.
    3. Conference always starts with the economic forecast from The University of Michigan’s Research Seminar in Quantitative Economics (RSQE). The forecast was cautiously optimistic given some downside risks that are largely macro in nature.
    4. RSQE forecasted “…average annual wage growth of 3.3 % per year for Detroit payroll jobs and 4.2 % per year for employed Detroit residents through the four-year financial plan.” RSQE expects “…Detroit’s economy to continue expanding over the next several years.”
    5. Mr. Dostine further reported that the city’s overall general fund recurring revenues increased between the February 2026 conference and the September conference. The estimate for fiscal year 2027 general fund recurring revenues, was revised upward by $58.1M, mostly due to the city’s positive expectations for property, income, and wagering taxes. Regarding the general fund recurring revenue and the four-year financial plan, the city conservatively projected year-over-year growth to hover at just over 1% for fiscal years, 2027 and 2028, and around 2% for fiscal years, 2029 and 2030, therefore, an overall favorable forecast. A forecast for growth. He noted that toward the conclusion of the conference, the city discussed the downside risks and upside potential to the forecast. The upside potential for revenues included continued growth at the casinos; increased value of residential and commercial properties; and employment growth. The downside risks included: Uncertain effects to employment and personal income from federal and fiscal policy; lower state revenue sharing due to a reduction in state sales tax collections or state budget restrictions; energy prices decline as global geopolitical tensions ease. At the end of the conference, the principals gave some final remarks: One of the principals talked about the uncertainty in the macro-outlook that would have consequences not only for the city but the state as well. Another principal commented that while revenue forecast was favorable … it is critical that “… we remain disciplined and balance these gains against the cost pressures within the city's budget to ensure long term financial stability.
    6. Mr. Dostine further stated that the budget pressures he spoke about previously in his memo from the city/finance subcommittee meeting, which was held in May, remain. They include:
      1. Weak pension asset investment performance;
      2. Contract negotiations right now with fire and next year with police;
    7. He reported that council expressed a desire last budget season to bring more services in-house, like the ambulance and forestry contracts, and the ongoing clean-up of contaminated backfill.
    8. The meeting was further informed that the slide decks and reports from both the city and RSQE will be distributed to the commission upon completion of the packets.
  5. Old Business
    1. None
  6. New Business
    1. None
  7. City’s Financial Report for the 1 month ended July 31, 2026 – 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. Michelle George
    2. William Davis
  9. Next Meeting Date
    1. City Regular Meeting: Monday, October 26, 2026, at 1:00 p.m. using Microsoft Teams
  10. Adjournment
    1. Motion made by commissioner Stoude 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 1:34 p.m.