Mayor Dave Bing and Detroit City Council are planning their next move ahead of Monday’s deadline to request a hearing in hopes of convincing Gov. Rick Snyder to change his mind that Detroit needs an emergency financial manager.
Records show that nearly half of the owners of Detroit’s 305,000 properties failed to pay their tax bills last year, exacerbating the city’s financial crisis.
A state review team has determined that a “financial emergency” exists in Detroit, and that no plan is in place to resolved it.
Detroit’s Financial Advisory Board has voted for furlough days on about 600 unionized city employees as officials work to avert a possible state financial oversight.
Michigan Gov. Rick Snyder will propose giving public schools, universities and community colleges two percent more overall funding in the next school year.
Detroit’s fiscal future could soon be out of its hands if a team of state officials determines that the nation’s former auto and manufacturing giant is so firmly entrenched in a financial emergency that it cannot climb out on its own.
An audit says Detroit’s accumulated general-fund deficit is nearly $327 million.
Gov. Rick Snyder has signed a law that gives distressed communities the ability to choose an emergency manager or other remedies to fix their finances.
More than 200,000 Detroit residents living below the poverty level struggle every day to avoid their own personal fiscal cliffs. When you grow up poor in Detroit, strategies must be developed to survive.
A preliminary review of Detroit’s finances has determined that the city is not on target to fulfill promises to the state that allowed the city to avoid having an emergency manager appointed to oversee it, the state Treasury Department said Friday.