TITLE

Detroit Mayor Kilpatrick to Meet With Ratings Analyst About Shortfall

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
January 2005
SOURCE
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p38
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on Ratings analysts' plan, as they are to meet with Detroit officials in the coming weeks to review the details of a plan that Mayor Kwame Kilpatrick said he has to balance an anticipated 230 million dollar structural deficit for fiscal year 2006. Analysts had expected the city to return its budget to balance in 2005, but with higher pension costs and some unexpected expenditures, the city is facing serious spending cuts. Kilpatrick refuted the idea that the city could be headed for "receivership." Chief financial officer Sean Werdlow used the term Wednesday night in an interview, a comment that some sources yesterday called alarmist. Analysts will be looking for signs of compromise between the city and the city council, which have been at odds in recent months in anticipation of the mayoral election set for November 2005.
ACCESSION #
15684394

 

Related Articles

  • Detroit Preparing to Meet With Raters Over Structural Deficit. Carvlin, Elizabeth // Bond Buyer;3/15/2006, Vol. 355 Issue 32339, p30 

    The article reports on the plan of Detroit Mayor Kwame Kilpatrick to meet with rating agencies Standard & Poor's Corp., Fitch Ratings Inc. and Moody's Investors Service Inc. to talk about the city's plans to reduce a structural deficit in Michigan. According to rating analyst Jonathan North, the...

  • MICHIGAN: Detroit's Gap Is Growing. Devitt, Caitlin // Bond Buyer;10/15/2008, Vol. 366 Issue 32982, p9 

    The article reports on the budget deficit of Detroit, Michigan stated by the new chief financial officer (CFO) of the city. According to CFO, the city could face a shortfall of up to $150 million, nearly $75 million more than estimated under previous Mayor Kwame Kilpatrick's administration. In...

  • 2005 Newsmakers of the year: Kwame Kilpatrick. Ankeny, Robert // Crain's Detroit Business;1/2/2006, Vol. 22 Issue 1, p6 

    This article presents information about Kwame Kilpatrick, mayor of City of Detroit, Michigan. During the election, pollsters and pundits were predicting that the flamboyant young politician would become Detroit's first one-term mayor in more than 30 years and the first incumbent to be defeated...

  • Gauging Detroit's Deficit. Carvlin, Elizabeth // Bond Buyer;5/17/2006, Vol. 356 Issue 32383, p35 

    The article reports on the Detroit City Council's fiscal analyst that believe the city's budget deficit is less severe that they recently predicted. The figures released by fiscal analyst Irvin Corley came closer to what Kwame Kilpatrick's administration predicted, when the mayor introduced the...

  • Detroit Sets $3.1B '08 Budget. Shields, Yvette // Bond Buyer;4/13/2007, Vol. 360 Issue 32607, p1 

    The article reports on the $3.1 billion budget for 2008 unveiled by Detroit, Michigan Mayor Kwame Kilpatrick. The overall budget, which relies in part of the long-term lease of the Detroit Windsor Tunnel, includes $1.4 billion general fund, $58 million for capital projects, and $77 million for...

  • Detroit's $3.1B Budget Plan Proposes 75-Year Tunnel Lease.  // Bond Buyer;4/13/2007, Vol. 360 Issue 32607, p44 

    The article reports on the $3.1 billion budget for 2008 unveiled by Detroit, Michigan Mayor Kwame Kilpatrick. The overall budget, which relies in part of the long-term lease of the Detroit Windsor Tunnel, includes $1.4 billion general fund, $58 million for capital projects, and $77 million for...

  • More Cuts In Spending For Detroit. Carvlin, Elizabeth // Bond Buyer;4/13/2006, Vol. 356 Issue 32360, p1 

    The article reports on the budget proposal of Mayor Kwame Kilpatrick for the fiscal year 2007, which calls for more cuts in spending, in Detroit, Michigan. The proposed budget includes 1.29 billion dollars in operating expenditures and carries over a projected 63 million dollars shortfall from...

  • MIDWEST Bond-Watch. Shields, Yvette; Carvlin, Elizabeth // Bond Buyer;8/24/2005, Vol. 353 Issue 32203, p35 

    Reports developments on the bond market in the U.S. Move of Standard & Poor's Ratings Services to downgrade the underlying rating on Cook County High School District No. 209/Proviso Township in Cook County, Illinois; Expectation for Mayor Kwame Kilpatrick to offer a plan to cut spending within...

  • Detroit hamstrung by pensions, benefits. Ankeny, Robert // Crain's Detroit Business;5/2/2005, Vol. 21 Issue 18, p1 

    The article focuses on the implications of the budget proposed by Detroit mayor Kwame Kilpatrick to the pensions and benefits for city employees and retirees. In the budget for the fiscal year that begins July 1, 2005 the tab for pensions and benefits will drop by about $140 million to $461.5...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics