Board to review K-12 district, 2 municipalities; Emergency Managers possible
Mon, 21 Oct 2013 10:28:30 GMT —
A state board is preparing to meet this week to review the finances of two municipalities and one school district from the Detroit area.
The Local Emergency Financial Assistance Loan Board is scheduled to meet Monday and Wednesday in Lansing. It will consider preliminary state reviews of Ecorse Public Schools, the city of Highland Park and Royal Oak Township.
If the board determines probable financial distress exists in the local governments or K-12 district, Gov. Rick Snyder will appoint a review team. If the governor ultimately concludes there is a financial emergency, an emergency manager could be appointed.
Other options include a consent agreement or bankruptcy.