DETROIT -

The city of Detroit is teaming up with other municipalities to fund the Detroit Target Fireworks.

The city announced Friday morning the fireworks will go on, but Detroit officials will continue looking for help to cover the costs as a regional event.

Read more: Could this be the last year for the Detroit fireworks?

Mayor Dave Bing assures that the Detroit Target Fireworks will be a safe and successful event this year. However, the city's financial crisis means Detroit alone cannot shoulder responsible for the fireworks and other major events in the future.

"As such, we will actively engage the Parade Company and our regional partners to discuss the financial sustainability of events like the fireworks and the Thanksgiving Day Parade in the future," Bing said at a news conference.

Watch: Uncut: Bing's news conference on fireworks

Bing said the city of Detroit can no longer bear the burden of security and clean up costs stemming from major community and regional events such as the fireworks and the Thanksgiving Day Parade. He made it clear regional and corporate help is needed to fill the gap.

Watch: Uncut: Interview with Parade Company CEO

Watch: Tony Michaels, president CEO of The Parade Company, says Detroit fireworks will go on

Local 4 will have live, exclusive footage of the Detroit Target Fireworks on June 25.

Special coverage: Detroit Target Fireworks

More: Fireworks details

-- The city of Detroit is advertising the June 25 fireworks in Hart Plaza.