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Mon October 31, 2011
Review of Flint's city finances gets 30 day extension
A state team is getting more time to analyze Flint’s city finances.
The panel’s findings could lead the governor to appoint an emergency manager to run the city.
The panel’s report was due by the final day of October. But Treasury Department spokesman Terry Stanton says the 8 member team appointed by the governor needed more time to review a few more matters. The governor has granted the review team an additional 30 days.
Earlier this year, the Treasury Department determined that Flint was in “probable financial stress."
The review panel’s report will help determine whether an emergency manager will be appointed to oversee Flint’s finances or if Flint’s elected leaders will be given expanded powers to deal with their budget issues.
The panel’s report was expected to influence next week’s mayoral election in Flint. It’s still could.
Just because the review team was given an additional 30 days to complete its report does not mean the panel will take the entire 30 days. It could still deliver its report to the governor before next week’s election.