Wayne County Reports Budget Surplus For First Time In 8 Years
DETROIT (AP) - Officials say Wayne County has a budget surplus for the first time in eight years following extensive efforts to improve its financial standing.
The office of Wayne County Executive Warren Evans says in a statement Tuesday that for the fiscal year ending Sept. 30 it had an available general fund surplus of $5.7 million.
In December, the county announced that projections showed it had wiped out an accumulated deficit of more than $82 million. A review found that for the 2015 fiscal year it had a $35.7 million unassigned surplus, but $30 million of that was earmarked for specific uses.
Gov. Rick Snyder confirmed last summer that a financial emergency existed in the county. The county entered into a consent agreement with the state to fix its finances.
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