Most Active Stories
Wed December 12, 2012
Snyder, Treasurer: Review Should Spur Detroit To Move Quickly To Fix Finances
Governor Rick Snyder says the Detroit mayor and city council are operating under some tight deadlines if they want to avoid a state takeover. A formal state Treasury review of the city’s finances is underway.
Governor Snyder’s been critical of the slow pace and infighting that have delayed Detroit’s compliance with a consent agreement with the state. Mayor Dave Bing and the city council took some actions this week, but the governor says things need to move more quickly.
“There is a 30-day clock going where this review will take place, and coming out of that review, there will be a report on the financial condition of Detroit that decisions will be made on,” he says.
The governor and Treasurer Andy Dillon are acting under the emergency financial manager law that preceded Public Act Four. That’s the emergency manager law rejected last month by voters.
There are court challenges to the state using the old law. The governor and the Legislature are working on a replacement.