financial review

Politics
12:38 pm
Thu March 22, 2012

Judge says he won't lift consent agreement ban

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LANSING, Mich. (AP) - A Michigan judge has denied a request related to the actions of the state-appointed review team analyzing Detroit's troubled finances.

Ingham County Circuit Judge William Collette on Thursday turned down a request from Gov. Rick Snyder and the financial review team to lift an earlier order keeping them from moving ahead with a consent agreement with Detroit city officials.

The judge said that must wait until his March 29 hearing examining whether the review team failed to comply with Michigan's Open Meetings Act.

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Politics
2:55 pm
Tue January 10, 2012

Financial review team for Detroit meets for first time

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A state-appointed review team assessing the finances of Detroit met for the first time today. Most members of the panel say they are optimistic the city can avoid being taken over by an emergency manager.

Former Michigan Supreme Court Justice Conrad Mallet is on the panel. He is optimistic the city can turn its deficit around.

“We understand the concerns of the men and women who live inside the city of Detroit about what a survey like this actually entails and what it could mean,” said Mallet. “What it is going to mean is that we are going to get to the bottom of the course of difficulty.”

The review team has about a month and a half to send a report of the city’s finances and a recommendation to Governor Rick Snyder.

Detroit Financial Review
6:37 am
Tue January 3, 2012

Hundreds rally against possible Detroit takeover

Hundreds of people gathered at a Detroit church to voice their opposition to the possibility that the state could
take over the city's government.

Michigan Democratic Congressman John Conyers was among those at Monday's gathering at Tabernacle Missionary Baptist Church. He told the crowd he would use his relationship with the White House to fight any attempt to appoint an emergency manager.

Last week, Gov. Rick Snyder announced members of a review team that will dig deeply into Detroit's finances.

The team's appointment comes after a preliminary review found that there was "probable financial stress" in Michigan's largest city.

Ultimately, Detroit could be appointed an emergency manager, which state and city officials have said they want to avoid.

Auditors say Detroit may run out of money as early as April.