Detroit bankruptcy

Detroit revised its revenue estimates upward this week as more revenue flows from the reopening of casinos and new internet gambling options.

Detroit Mayor Mike Duggan warns the revisions threaten the city's post-bankruptcy fiscal progress, but the charter commission calls the claim greatly exaggerated.

The state's court is weighing whether to allow a public vote on proposed charter revisions that Mayor Mike Duggan warns could trigger a fiscal crisis.

The city's fiscal health is holding steady but pension funding strains and possible charter changes pose future threats.

Charter revisions that Mayor Mike Duggan says could bankrupt the city will remain on the ballot at least for now as the state's high court considers the case.

The Detroit Financial Review Commission votes in June on a fourth one-year waiver that allows the city to manage its finances independently.

Mayor Mike Duggan and Michigan's governor, Gretchen Whitmer, have raised alarms over the impact of changes proposed by the Detroit Charter Review Commission.

“There’s been absolutely no effort made to take this collection of ideas and price it out,” Mayor Mike Duggan said of proposals to change the city charter.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.