Financial Review Team determines Flint should obtain an Emergency Financial Manager
Tue, 08 Nov 2011 22:43:46 GMT —
The Flint Financial Review Team has announced they are recommending that the City of Flint appoint an Emergency Manager.
The group and the Department of Treasury studied Flint TMs finances from August 29th through September 12th, 2011. The group investigated Flint TMs water supply fund and sewage disposal fund, cash shortages in various areas, pension system, and staff reductions in addition to other areas of Flint TMs finances led them to unanimously believe the city needs emergency financial help from an outside source. Governor Rick Snyder has approved the results. You can read their entire findings by clicking this link.
The announcement comes just hours before election polls close on a Flint Mayoral race.
Mayor Dayne Walling released a statement on the group TMs findings Tuesday afternoon. He says, "The State's decision shows how serious our financial challenges are in the City of Flint. Significant progress has been made to stabilize the City's finances during a very difficult economy, but without shared sacrifice across the board the City has not been able to implement all of the necessary cost-savings. When some don't share in the sacrifice, we are all forced to bear the burden. With the support of the people, I will continue serve the City of Flint."
Michigan Democratic Chairman Mark Brewer spoke with the Associated Press Tuesday night, and says the decision to release these findings on an election night is "despicable and clearly politically motivated."
What do you think of the decision to release this recommendation on election night? Leave us your comments below.