PONTIAC (AP) – Gov. Rick Snyder will appoint a team to review the finances of the Pontiac Public Schools.

The review ultimately could lead to the appointment of an emergency manager or other measures for the Oakland County district grappling with a $37 million budget deficit.

The three-member Local Emergency Financial Assistance Loan Board on Thursday found “probable financial stress” in the district. The governor has no deadline to appoint a review team.

If a financial emergency is found to exist, Pontiac officials have four options. They can enter a consent agreement with the state, agree to an emergency manager, have a neutral evaluation or choose bankruptcy.

Detroit, Highland Park and Muskegon Heights are the three Michigan school districts with emergency managers.

MORE: Pontiac Teachers And Staff Address Possible Payless Payday

© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


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