Detroit

Overview


Socioeconomic Data
Population 677,116
Employment 210,242
Unemployment Rate 12.4%  (1 of 116)
Zillow Home Value Index $38,300  (116 of 116)
Government-Wide Revenues and Expenses
General Revenues $2,697,654,282
Capital Grants and Contributions $42,039,110
Charges For Services $1,246,896,887
Operating Grants and Contributions $212,570,212
Total Revenues $4,199,160,491
Total Expenditures $2,233,224,179
Change in Net Assets $1,965,936,312
Actuarially Determined Pension Contributions $328,887,301
Pension Contributions Actually Made $328,887,301
Government-Wide Position
Current Assets $2,706,674,708
Total Assets $9,320,079,770
Current Liabilities $3,462,805,916
Long Term Debt $8,262,192,012
Total Net Position ($1,398,612,842)
Unrestricted Net Position ($3,042,213,052)

Revs and Exps


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Surplus / (Deficit) General Fund Other Funds Total Gov. Funds
Surplus(deficit) $  (145,435,422) $  17,317,072 $  (128,118,350)
Revenues
Total Revenues $  1,059,791,820 $  317,813,978 $  1,377,605,798
Taxes 606,123,846 121,939,513 728,063,359
Intergovernmental revenues 252,840,186 73,411,137 326,251,323
Income Taxes 263,376,804 0 263,376,804
Other Taxes 177,306,262 57,725,605 235,031,867
Property taxes 126,394,573 63,701,505 190,096,078
Charges for services 86,783,156 44,283,229 131,066,385
Other Revenues 71,222,054 53,897,820 125,119,874
Utility Taxes 37,939,463 0 37,939,463
Licenses and permits 11,080,804 19,905,430 30,986,234
Fines and Fees 20,608,519 4,117,795 24,726,314
Use of money and property 14,277,845 0 14,277,845
Interest Taxes 1,106,744 512,403 1,619,147
Investment income (3,144,590) 259,054 (2,885,536)
FUND BALANCE AT END OF YEAR $  437,687,560 $  194,445,394 $  632,132,954
Expenditures
Total Expenditures $  1,205,227,242 $  300,496,906 $  1,505,724,148
Public safety 389,089,858 19,111,145 408,201,003
Principal 134,340,535 62,272,000 196,612,535
Capital Outlay 28,803,462 61,915,693 90,719,155
Economic Development 0 64,020,545 64,020,545
Interest 35,445,185 23,121,986 58,567,171
Health and welfare 32,630,225 2,924 32,633,149
Culture, parks and recreation 12,439,661 258,977 12,698,638
Housing 5,570,783 0 5,570,783
Issuance Cost 4,194,731 0 4,194,731

Metrics


General Fund Balance Ratio 36.32%  (19 of 116)
Debt to Revenue Ratio 196.76%  (31 of 116)
Pension ADC to Revenue Ratio 7.83%  (31 of 116)
Annual Change in Home Prices 3.51%  (89 of 116)
Annual Change in Unemployment Rate (3.9%)  (116 of 116)
Fiscal Health Score 72  (49 of 116)
Implied Credit Rating AAA