Detroit — The city met a post-bankruptcy milestone Friday with two years down and one to go before the state might end its financial oversight. During the state-mandated Financial Review Commission meeting at Cadillac Place Friday afternoon, board members agreed the city was in compliance with the commission’s annual requirements.
If an audit in January confirms the city is meeting its financial milestones, then it would have just one more fiscal year to demonstrate good budget practices, and the state would consider lifting the demands that an outside board approve Detroit’s spending. (detnews.com – Shawn D. Lewis) Click here to read the full story!
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