City of Detroit Revenue Estimating Conference
Detroit Office of Chief Financial OfficerRemote
Join meeting:
https://cityofdetroit.zoom.us/j/87228238067
Check the source website for additional information
Reporting
Edited and summarized by the Detroit - MI Documenters Team
Mild recession expected nationwide in 2023-24; Detroit forecast to avoid worst of recession due to auto industry jobs.
Mild recession expected nationwide in 2023-24; Detroit forecast to avoid worst of recession due to auto industry jobs.
#DetroitDocumenters @DetDocumenters media partners: @BridgeDet313 @chalkbeatDET @freep @media_outlier @metrotimes @MichiganRadio @PlanetDetroit @wdet @wxyzdetroit
08:06 AM Feb 13, 2023 CST
Jay Rising CFO
CFO Mr Rising, State Rep Mr Busses (?) and Mr Fulton is 3rd party-
They need new conference chair-elected Mr Busses
& white color job rates predicted to stay slower recovery (remote work, layoffs)
Service industry- now 5.6% higher than pre-pandemic. https://t.co/ZTADcwi3vF
2/3 odds, but he feels more like 50/50
No more ? From Mr Fulton-
Jay Rising CFO says 5th time-end of pandemic doesn’t make it easier- audio issues for myself and Mr Ehrlich
Mr Ehrlich signed off-
Mr Fulton discussing https://t.co/PH6QmEvcXW
Need to watch models- Mr Bussis- a lot of unknown difficult to forecast.
Mr Fultons microphone on and out- unable to determine his comments about internet gambling-
More comments-
Renee Short -city council legislative policy division-thanking city budget Dept the OCFO and staff for hard work.
Advised of concerns about remote work refunds
thanking Evan, Steve and Renee.
Thanking his team.
Would like to meet more and have other directors or agency CFO’s discuss and meet with us.
His Tenor as auditor General is ending soon so this is his last conference.
Mr Ehrlich advised they are aware of the gap. Mr Fulton referred to city job training opportunities for residents (breaking up hard to hear).
Request office or budget reports online at city website-
Steve advised report is now online.
Wouldn’t expect that big of forecast error.
Internet gaming revenue way above anticipated.
Refunds- remote work refund activity could have been more- so also over projected.
Attachments
Agency Information
Detroit Office of Chief Financial Officer
The Office of the Chief Financial Officer (OCFO) is the centralized financial management organization for the City of Detroit and is led by the CFO’s Office. The role of the CFO’s Office is to ensure the execution of the CFO’s vision and strategy, oversee financial reform and continuous improvements, improve the OCFO’s functions and build capacity throughout OCFO, and improve efficiency and effectiveness across OCFO and the government.