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Tue September 20, 2011
Flint getting more in-depth review of finances
Flint's finances are getting a more in-depth review by the state after what's described as probable financial stress was found in its finances.
The Flint Journal reports that the state treasury office told Mayor Dayne Walling last week about the finding. A panel is expected to report to Gov. Rick Snyder within about two months whether there's a financial emergency in Flint.
In August, Michigan officials ordered a preliminary review of Flint's finances, the first involving a Michigan city since the state revised its emergency manager law early this year. The process could lead to the state appointing an emergency manager.
Walling says he believes the appointment of an emergency manager can be avoided.
Michigan has emergency managers in place in the Detroit public school system and three cities.