CHICAGO — Detroit has filed its annual audit on time for the first time in five years.

The 237-page financial report, filed Dec. 21, warns that the city faced a total deficit of $1.6 billion as of June 30, the end of fiscal 2010. The deficit grew by $692 million over the previous year, the bulk of which was due to a change in accounting rules that requires governments to now report expected future costs of derivatives.

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