(WXYZ) - State officials have released the report compiled by the Detroit Financial Review Team.
The report's release comes just a day after the review team announced their findings in a contentious meeting that was often interrupted by chanting and singing from the crowd.
The review team confirmed the findings to a preliminary review that a serious financial emergency exists in the city of Detroit. It also found that the city had not yet entered into a consent agreement with the state.
Governor Snyder now has 10 days from the issuance of the report to decide what to do next. He could appoint an emergency manager to run the city.
However, Snyder has said that he would prefer a consent agreement and that such an agreement is close to being worked out.
READ THE COMPLETE FINANCIAL REVIEW TEAM REPORT BELOW