State Begins Preliminary Review Of Wayne County Finances
LANSING (AP) - The Michigan Department of Treasury will begin a preliminary review of Wayne County's finances after local officials asked the state earlier this week to declare a financial emergency there.
Michigan Treasurer Nick Khouri notified County Executive Warren Evans of the review on Thursday.
By law, the review will have to be completed within 30 days.
Evans said Wednesday he wants to enter into a consent agreement with the state that will allow the county to continue negotiations with its stakeholders. A consent agreement would provide for remedial measures to address a financial emergency and may use state financial management and technical assistance to help alleviate it.
Wayne County is Michigan's most populous county, with about 1.7 million residents, and is mired under a $52 million structural deficit.
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