Hamtramck Released From Receivership Hamtramck Released From Receivership – CBS Detroit

HAMTRAMCK, Mich. (WWJ) – The City of Hamtramck has regained full control of its operations and finances after spending more than three years under the Hamtramack Receivership Advisory Board.

The board was appointed in 2014 when Gov. Rick Snyder declared a financial emergency for the Detroit enclave.

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In a statement Saturday, Michigan Treasurer Nick Khouri said this “marks an important achievement for Hamtramck residents.”

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“The city has increased its operational efficiencies and improved its fiscal stability,” Khouri said. “The mayor and the city council are experienced officials and have an appointed, acting city manager who has provided stable and solid administrative leadership.”

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The city now has a general fund balance of $6.5 million.