Post by Logan on Feb 26, 2016 0:14:16 GMT -6
Detroit — The Duggan administration has uncovered millions in unspent bond funds for desperately needed capital upgrades.
That revelation was unveiled as part of Mayor Mike Duggan’s proposed $1 billion balanced general fund budget for the 2016-17 fiscal year that he presented Thursday to the City Council.
The unspent bond funds that date back decades will be allocated for park and public safety improvements. The dollars were approved by voters as far back as 1987, Duggan said.
The mayor noted that it’s “hard for me to believe” throughout the city’s financial struggles that “they would have left $50 million unspent.”
Read more: www.detroitnews.com/story/news/local/detroit-city/2016/02/25/detroit-uncovers-unspent-bond-funds/80934318/
That revelation was unveiled as part of Mayor Mike Duggan’s proposed $1 billion balanced general fund budget for the 2016-17 fiscal year that he presented Thursday to the City Council.
The unspent bond funds that date back decades will be allocated for park and public safety improvements. The dollars were approved by voters as far back as 1987, Duggan said.
The mayor noted that it’s “hard for me to believe” throughout the city’s financial struggles that “they would have left $50 million unspent.”
Read more: www.detroitnews.com/story/news/local/detroit-city/2016/02/25/detroit-uncovers-unspent-bond-funds/80934318/