Critical week for Detroit's financial future
Both the Detroit City Council and Mayor Dave Bing say this is a crucial week for getting the city’s budget in order. Detroit will end the fiscal year in June with a budget deficit of at least $180 million. Both Mayor Bing and the Council declare they’ll work together to avoid a state takeover of the city’s finances. Both say much of that will depend on whether city unions and pension boards will agree to concessions. He had an initial meeting with the groups’ leaders Monday. Bing says “we can do everything else perfect” but without those concessions from the city’s pension boards and unions, “It won’t matter.” The Council wants to make even more budget cuts than Bing has proposed. They’ll meet throughout the week to look at specific departments. Some Council members say Detroit must also make layoffs. But Bing has rejected that idea in the short term, saying it would only diminish services and drive even more people out of the city.