Detroit Mayor Mike Duggan proposes city's 2025 budget, financial plan

Detroit's proposed 2025 fiscal year budget

Duggan shared his proposed budget and four-year financial plan with Detroit's City Council on Thursday. A whopping $1.46 billion will be dedicated to general funds and $2.76 billion across all city funds.

DETROIT (FOX 2) - Detroit's proposed 2025 foscal year budget is looking more vibrant and worthwhile for Detroiters.

"We are not in this situation because of some bailout. This is something we earned ourselves," said Detroit Mayor Mike Duggan.

Duggan shared his proposed budget and four-year financial plan with Detroit's City Council on Thursday; $1.46 billion will be dedicated to general funds and $2.76 billion across all city funds.

"Let me tell you why we are where we are where we are today, and it really is the extraordinary increase in the income tax revenues in the city," Duggan continued.

Key points include prioritizing transportation with an investment of over $21 million to enhance D-DOT, employing an extra 117 bus drivers, additional funding for police and fire departments, and homelessness prevention.

A significant emphasis is the allocation of $40 million towards retiree pensions, along with setting aside money for supplemental retirement checks.

"The millions that we needed to make our pension obligations didn’t come from the vacant land on Mack Avenue," Duggan stressed. "It came from the workers at the new jeep plants and places like them that produce that extra revenue," Duggan said.

Starting Monday, the city council will start conducting budget hearings for various departments — once ratified, the budget will go into effect starting July 1st.

"It shows that we are investing in some major areas," said Detroit Councilman Fred Durhal III. "Something that's promising is particularly our retirees and the investment in them, investment in transportation, as well as some programs for our youth."

The city council will likely make amendments to the budget before it is approved. However, the council does seem pleased.

"We’re increasing our salary from $43,000 to $53,000 for our police officers – that’s good. As well as increasing money for our bus drivers," said Councilmember Coleman Young III. "We just want to make sure we’re fiscally responsible when we’re doing these increases. But I think overall we’re in the right spot."