Detroit Financial Advisory Board http://michiganradio.org en Restructuring plan targets Detroit City Council http://michiganradio.org/post/restructuring-plan-targets-detroit-city-council <p>Consultants are working on all kinds of plans to re-shape Detroit city departments, and <a href="http://www.freep.com/article/20130408/NEWS01/130408031/Report-Detroit-City-Council-downsized-go-part-time">two such plans were previewed</a> at a Detroit Financial Advisory Board meeting Monday.</p><p>One is to drastically downsize the Detroit City Council, and make its members part-time, with just one staff member each</p><p>Council member Saunteel Jenkins says that would completely change the Council’s role in city government.</p> Mon, 08 Apr 2013 22:26:05 +0000 Sarah Cwiek 12052 at http://michiganradio.org Restructuring plan targets Detroit City Council As Snyder ponders emergency manager, an ongoing struggle to keep Detroit afloat http://michiganradio.org/post/snyder-ponders-emergency-manager-ongoing-struggle-keep-detroit-afloat <p>Detroit can just barely avoid running out of cash this fiscal year--if&nbsp;it implements some key measures.</p><p>That’s what the city’s finance officials told its financial advisory&nbsp;board on Monday.</p><p>The premise to avoid insolvency involves some immediate cuts,&nbsp;some deferred payments—and a few big “ifs.”</p><p>Some of those measures are so-called “structural changes,” like&nbsp;mandatory furlough days, layoffs, and possible pension and health care changes. Others defer payments or take one-time opportunities to grab<br>cash.</p> Tue, 12 Feb 2013 04:10:14 +0000 Sarah Cwiek 11191 at http://michiganradio.org As Snyder ponders emergency manager, an ongoing struggle to keep Detroit afloat How much money is in Detroit's bank account? "Nobody really knows" http://michiganradio.org/post/how-much-money-detroits-bank-account-nobody-really-knows <p>A preliminary state review of Detroit’s finances says “financial reporting problems” make it difficult to know where things actually stand.</p><p>The report was issued Friday, just days after state treasurer Andy Dillon initiated the process that could lead to an emergency financial manager.</p><p>It found Detroit has “significant cash flow problems.” But projections vary from month to month, “making it difficult to make informed decisions.”</p><p>Darrell Burks is a member of Detroit’s Financial Advisory Board, an appointed body mandated by Detroit’s consent agreement with Lansing.</p> Tue, 18 Dec 2012 00:02:21 +0000 Sarah Cwiek 10409 at http://michiganradio.org How much money is in Detroit's bank account? "Nobody really knows" Dillon initiates state review process for Detroit's finances http://michiganradio.org/post/dillon-initiates-state-review-process-detroits-finances <p>Detroit’s march toward a state-appointed emergency financial manager <a href="http://www.freep.com/article/20121210/NEWS01/121210067/Advisory-board-OKs-Dillon-s-path-toward-Detroit-emergency-financial-manager-">appeared to speed up Monday</a>, as State Treasurer Andy Dillon announced his intention to start the review process that could end up there.</p><p>The city’s financial advisory board voted to support Dillon's move to start the process. It can last up to 30 days under Public Act 72.</p><p>Board members heard ever-more dire news about the city’s finances during the meeting</p> Tue, 11 Dec 2012 03:58:54 +0000 Sarah Cwiek 10300 at http://michiganradio.org Dillon initiates state review process for Detroit's finances Detroit Financial Advisory Board hears police officers' pleas, gets "eviction notice" http://michiganradio.org/post/detroit-financial-advisory-board-hears-police-officers-pleas-gets-eviction-notice <p>Detroit&rsquo;s Financial Advisory Board is charged with ensuring the city&rsquo;s financial viability--and has sweeping powers to do that under the city&rsquo;s consent agreement with Lansing.</p><p>But at a board meeting Monday, some Detroit police officers pleaded with the board to consider the human cost of their actions.</p><p>Like most city employees, most police officers are about to get hit with a 10% pay cut.</p> Tue, 14 Aug 2012 01:32:25 +0000 Sarah Cwiek 8661 at http://michiganradio.org Detroit Financial Advisory Board hears police officers' pleas, gets "eviction notice" Detroit finance team meets for first time http://michiganradio.org/post/detroit-finance-team-meets-first-time <p>Detroit mayor Dave Bing opened the first meeting of the city&#39;s newly formed financial advisory board by telling its members their task is to help return Detroit to greatness.</p><p>The problem is, the city has a massive budget deficit to wrestle with while it tries to keep the street lights on and the busses running.</p><p>Sheila Cockrel served on the city council for 16 years before retiring in 2009. She says there needs to be a major shift in the culture for the intervention to work.</p><p>&quot;Them and us doesn&#39;t work,&quot; Cockrel said. &quot;This is not someone taking something away. This has got to be everybody coming to the table for the common good and for the greater good. &#39;Cause what&#39;s good for Detroit is good for Michigan.&quot;</p><p>The nine-member board is mandated by the city&#39;s consent agreement with the state.</p><p> Fri, 15 Jun 2012 21:06:21 +0000 Sarah Hulett 7912 at http://michiganradio.org Detroit finance team meets for first time Detroit City Council approves financial board picks, moves ahead with consent agreement http://michiganradio.org/post/detroit-city-council-approves-financial-board-picks-moves-ahead-consent-agreement <p>The Detroit City Council is moving ahead to implement the city&rsquo;s consent agreement with the state.</p><p>The Council had delayed appointing its two members to a nine-member financial advisory board while the city&rsquo;s corporation counsel challenged the consent deal in court.</p> Thu, 14 Jun 2012 23:12:12 +0000 Sarah Cwiek 7901 at http://michiganradio.org Detroit City Council approves financial board picks, moves ahead with consent agreement Detroit's Financial Advisory Board, still missing some members, might start meeting anyway http://michiganradio.org/post/detroits-financial-advisory-board-still-missing-some-members-might-start-meeting-anyway <p>A financial advisory board that will help guide Detroit&rsquo;s budget process is expected to start meeting &ldquo;soon&rdquo;&mdash;but it will apparently be missing some of its members.</p><p>That Board is a key part of Detroit&rsquo;s consent agreement with the state, and is supposed to have a prominent role in the city&rsquo;s ongoing budget process.</p><p>Its nine members were to be appointed by state officials, Mayor Dave Bing&mdash;and the Detroit City Council.</p> Sun, 27 May 2012 21:12:30 +0000 Sarah Cwiek 7640 at http://michiganradio.org Detroit's Financial Advisory Board, still missing some members, might start meeting anyway Detroit City Council works to fill financial advisory board http://michiganradio.org/post/detroit-city-council-works-fill-financial-advisory-board <p>The Detroit City Council is interviewing candidates for the city&rsquo;s new financial advisory board this week.</p><p>The nine-member financial advisory board is a requirement outlined in Detroit&rsquo;s consent agreement with the state.</p><p>The City Council gets to appoint two members, and approve the rest, who are appointed by the Governor, State Treasurer, and Mayor.</p><p>On Wednesday, the Council interviewed Mary Beth Kuderik, Chief Financial Officer for the UAW Retiree Benefits Trust.</p><p>Council members seemed keenly interested in Kuderik&rsquo;s record managing health care costs&mdash;one of the city&rsquo;s biggest long-term expenditures.</p><p>Kuderik says she thinks the city could save a lot of money in health care costs.</p><p>&ldquo;My sense is that there would be opportunity for savings, even in terms of cash flow,&rdquo; she said.&rdquo;</p><p>Council President Pro-Tem Gary Brown cautioned it won&rsquo;t be a part-time job to start.</p><p>&ldquo;There is so much information that you have to be brought up to speed on, to understand how the city operates, that I really do see it being a full-time job for 30-45 days,&rdquo; Brown said.</p><p>The Council has until May 10th to finalize the board.</p><p>So far, only one advisory board appointee lives in Detroit. That&rsquo;s a concern to some Council members.</p><p>Several Council members have said qualified city residents they&rsquo;ve approached have declined interviews, saying the issue is too contentious. Thu, 03 May 2012 02:36:37 +0000 Sarah Cwiek 7311 at http://michiganradio.org Detroit City Council works to fill financial advisory board First three appointments made to Detroit's "Financial Advisory Board" http://michiganradio.org/post/first-three-appointments-made-detroits-financial-advisory-board <p>The <a href="http://www.detroitmi.gov/Portals/0/docs/mayor/pdf/Financial%20Stability%20Agreement_Signatures.pdf">consent agreement</a> the city of Detroit signed with the state earlier this month calls for the creation of a nine-member financial advisory board.</p><p>The board will have oversight over the city&#39;s finances.</p><p>Governor Snyder&#39;s office released the names of the three members appointed to the board today:</p><blockquote><p>Former state Treasurer <strong>Robert Bowman</strong>, currently president and CEO of Major League Baseball Advanced Media LP, is the joint appointee of Snyder and Bing. <strong>Darrell Burks</strong>, currently a senior partner at PricewaterhouseCoopers, will be one of three individuals appointed by Gov. Snyder, and <strong>Ken Whipple</strong>, chairman of the board of Korn/Ferry International, is Treasurer Dillon&rsquo;s appointee to the FAB.</p></blockquote><p><a href="http://people.forbes.com/profile/robert-a-bowman/12287">Forbes </a>has a profile of Robert Bowman.</p><p>Three are appointed - six more appointments are left.</p><p>Under the agreement, Gov. Snyder will select two more members of the board, Mayor Bing will select two, and Detroit City Council will select two.</p><p>Those serving on the board will receive compensation of $25,000 per year.</p><p>Detroit Deputy Mayor Kirk Lewis&mdash;who&rsquo;s still serving in place of the ailing Mayor Bing&mdash;says the city is moving to comply with the consent agreement.</p><p>&nbsp;&ldquo;So we&rsquo;re making progress,&quot; Lewis told reporters Thursday. &quot;I&rsquo;d expect over the next couple of weeks we&rsquo;ll have that [advisory board] taken care of.&rdquo;</p><p>Lewis says after that, city and state officials will move on to filling two more powerful positions outlined in the agreement: a Chief Financial Officer, and a Program Director.</p><p>He also says Bing is slated to return to work part-time in &ldquo;a couple of weeks.&rdquo;</p><p> Thu, 19 Apr 2012 17:46:21 +0000 Mark Brush & Sarah Cwiek 7115 at http://michiganradio.org First three appointments made to Detroit's "Financial Advisory Board"