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Wed November 9, 2011
Inkster is the latest Michigan city in "financial stress"
Another Michigan city is moving toward a state takeover.
The state Treasury Department announced today that a preliminary review of Inkster’s books shows the city is in "probable financial stress".
Treasury spokesman Terry Stanton says the city is having trouble solving a multi-million dollar deficit.
"And the review also found city official have proposed unrealistic budgets and failed to make budget revisions in a timely manner," Stanton says.
The governor is expected to appoint a review panel to determine if Inkster needs an emergency manager to solve its budget problems. The review team will likely not deliver its report to the governor before the first of next year.
Already this week, the governor declared a "financial emergency" in Flint. The governor is expected to appoint an emergency manager to run that city, though Flint officials still have time to appeal the decision.