Detroit Mayor Mike Duggan announces 11th consecutive $100M-plus budget surplus
As Detroit Mayor Mike Duggan prepares to leave his post, the three-term mayor announced Tuesday that the city will have a $105 million budget surplus.
In what is scheduled to be his final press conference as mayor, Duggan on Tuesday recapped the city's 2024-25 fiscal year and the city's budget surplus, which has grown from $60 million projected in September to more than $105 million, and explained what steps led to the large surplus.
It marks the 11th consecutive year that the city has had a $100 million-plus surplus.
"This has been a 12-year partnership between the mayor and Detroit City Council," Duggan said. "At no point in 12 years did I ever have an argument with council about we can't be spending more money. They have been full partners. We are all painfully aware of what happens when the mayor and the council tell Detroiters they can spend money they don't have, and you end up losing control with bankruptcy, emergency manager, pension loss."
Duggan was joined on Tuesday by mayor-elect Mary Sheffield, city council members, Chief Financial Officer Tanya Stoudemire and administration cabinet members.
Duggan is wrapping up his final term as the city's mayor after previously announcing his 2026 gubernatorial campaign as an independent candidate. In November 2024, Duggan announced he would not seek a fourth term in office and followed up on that announcement by kicking off his campaign for Michigan governor.
Duggan first took office in January 2014, and the city emerged from its historic bankruptcy later that year.
The city's 75th mayor, Duggan, previously served as CEO of the Detroit Medical Center from 2004 to 2013 before running for office on a successful write-in campaign, defeating former Wayne County Sheriff Benny Napoleon.
As Duggan leaves office, Sheffield, the current city council president, becomes the first woman to serve in the city's top position. Sheffield previously made history as the youngest person to be elected to the city council in 2013 and then the youngest person to serve as council president in 2022.
"Eleven consecutive balanced budgets and surpluses and more than a half a billion in reserves show Detroit is financially resilient and will position to continue to rise higher," Sheffield. "As we begin this next chapter, my administration will work very closely with our city council to take a thoughtful and transparent approach to how to utilize the surplus funding.
"My focus will always be clear: Protecting Detroit's financial stability, continuing to build our reserves, and making strategic investments that strengthen our neighborhoods, improve essential services and support long-term growth."