DETROIT (Michigan News Source) – The city of Detroit’s total revenues hit $2.1 billion in fiscal year 2024, the first time the city exceeded the $2 billion mark.
The city’s total revenues were $1.5 billion in 2019, the last year before the pandemic hit, according to data the city filed with the state of Michigan’s Department of Treasury last week.
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Federal pandemic money has fueled the city’s record-level of revenues.
For example, the city had $83.5 million in federal money in 2019. That increased to $181.2 million in 2020, the first year the city received federal emergency money. By 2023, the city’s federal fund had jumped to $215.2 million and then increased to $356.5 million in 2024.
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