Mike Duggan leaves Detroit with $550 million in reserves and $105 million surplus

Detroit Mayor Mike Duggan announced a $105 million budget surplus in his final press conference before leaving office on December 31, ending 12 years of leadership marked by fiscal discipline and consecutive annual surpluses exceeding $100 million. Duggan attributed the financial success to city departments and the Detroit City Council's management, highlighting the importance of pension and debt obligations. Mayor-elect Mary Sheffield will begin her term with substantial reserves, continuing the city's transformation from prior deficits.