DETROIT (WXYZ) - Detroit Emergency Manager Kevyn Orr's quarterly report is due to the state Monday morning.
The report serves as the official update on the status of the city's financial situation.
As of Monday morning, Orr is still waiting to hear from city creditors after he proposed they accept ten cents on the dollar. Without the concession from creditors the city could be heading towards chapter 9 bankruptcy.
President Obama and his administration are keeping a close eye on Detroit's ongoing financial crisis. The president is aware of the situation but right now there is no indication of any intervention.
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