Review Team Finds 'Financial Emergency' Exists In Wayne County
DETROIT (WWJ) - An independent review team has concluded that a financial emergency does exist in Wayne County.
Under law, the state Treasury office says, Gov. Rick Snyder now has 10 days to consider the team's report and determine what to do about the county's fiscal condition.
If an official financial emergency is declared, state oversight is a possibility. Local government official will work with the state to determine how the crisis is remedied by selecting one of four options: a consent agreement; an emergency manager; neutral evaluation; or Chapter 9 bankruptcy.
Shortly before the findings were announced on Tuesday, Wayne County Executive Warren Evans went before the Detroit City Council to talk about his county's financial situation.
"We have sent to our commission, as of last week, a balanced budget for the next year and a budget — the basic structure of a budget — for the year after," Evans said. "We're trying to move forward, in looking forward, trying to figure out how we solve some of these problems."
Evans told council members he's been "working very, very hard " to get the budget situation straightened out.
"There is no way I would foresee Wayne County needed an emergency manager or bankruptcy at this point," he added.
Evans last month asked the state to declare a financial emergency, saying he wants to enter into a consent agreement with the state that will allow the county to continue negotiations with its stakeholders.