The restoration of local control comes as Detroit touts stabilized finances with a projected $36 million surplus in fiscal year 2018, increasing property tax revenues and a plan to have $335 million set aside by 2024 when the city resumes pension payments.
The nine-member financial review commission voted unanimously Monday to release Detroit from the state’s oversight. Since 2014, the commission has had the final say on all city budgets, collective bargaining agreements and contracts larger than $750,000.
“Today is one of the most important days that I’ve had since I’ve been on council,” Council President Brenda Jones said after the commission meeting. “It’s an important day for the history of the city of Detroit.”
Jones, who also sat on the commission, praised Mayor Mike Duggan for not vetoing any city budgets and made a promise to continue delivering quality city services to Detroiters. Under the state’s watch, Detroit posted three consecutive budget surpluses, which was a major threshold to regaining independence.
