Gov. Rick Snyder says that Benton Harbor's financial emergency has been resolved and he has appointed a transitional board to work with local leaders.
Snyder said Monday that he is accepting Emergency Manager Tony Saunders' recommendation from Thursday to create an advisory board to "ensure continued financial stability and growth." The southwestern Michigan city has a healthy fund balance and made all annual pension payments for the first time in a decade, Saunders says.
Board members include a Michigan Treasury Department audit manager, Berrien County's treasurer and two former Whirlpool Corporation managers.
Saunders has been the emergency manager since February 2013, when the city had a $2.7 million deficit. Emergency managers also oversee the finances of Detroit, Allen Park, Flint, Hamtramck and several school districts.