Detroit expects general fund revenues to top $1 billion - WAOW - Newsline 9, Wausau News, Weather, Sports

Detroit expects general fund revenues to top $1 billion

Posted:
 DETROIT (AP) -- Budget forecasts predict Detroit's general fund revenues to top $1 billion for each of the next two fiscal years.

The Detroit News reports that Mayor Mike Duggan's office presented the plan Tuesday to the City Council for approval.

A financial review commission created by state law to ensure Detroit meets post-bankruptcy and other requirements already has adopted the $1.39 billion estimate for 2015 and just over $1 billion projected for 2016.

A majority of the revenues comes from taxes and state revenue sharing.

Duggan has said Detroit would end the current fiscal year with its first balanced budget since 2002.

The 2-year budget was created by former state-appointed emergency manager Kevyn Orr, who took Detroit through bankruptcy.

A 4-year budget plan is due before the review commission next month.

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