Detroit finances are improving, but an advisory board still says they have a long way to go before the city is out of the woods.
(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.
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