Leaders work toward financial stability in Detroit

(WXYZ) - The 7 Action News team is getting a better idea on events and financial information that will be used to decide whether Detroit is taken over by the State because of the financial crisis. 

A financial update shows the city making short term improvements and is projected to have a positive cash balance of $6.5 million at the end of the fiscal year in June. 

However, long term financial stability is a major question and city officials tell 7 Action News that analysis won't be done until March. 

The financial review team has a deadline of this weekend to make a recommendation to Governor Rick Snyder

But the Governor tells 7 Action News that can be pushed back, because he does not want them to "feel pressured" and the Governor wants a "quality" recommendation. 

Bottom line, this can change on a daily basis.

Print this article Back to Top