Review Team Finds Hamtramck In A Fiscal Emergency
A state-appointed team has found Hamtramck is facing a fiscal crisis.
The Michigan Public Radio Network’s Rick Pluta reports.
The team went in at the request of Hamtramck officials. The review found the city of 22 thousand people has a deficit of three million dollars.
Terry Stanton is with the state Treasury Department. He says that deficit has grown while the city missed pension fund payments.
“Certainly, the city was aware that it had financial difficulties for some time, but didn’t adequately address its crisis,” he says.
The city emerged from seven years of emergency management six years ago. If Governor Rick Snyder concurs with the finding, then city officials will have to choose between negotiating a deficit elimination plan with the state, inviting an emergency manager to take control, or declaring bankruptcy.