Gov. Rick Snyder has named six people to a team to review the finances of the Pontiac School District, a step that could lead to the appointment of an emergency manager or other measures for the Oakland County district grappling with a $38 million budget deficit.
A three-member Local Emergency Financial Assistance Loan Board on June 6 found "probable financial stress" in the district.
If a financial emergency is found to exist, Pontiac officials have four options. They can enter a consent agreement with the state, agree to an emergency manager, have a neutral evaluation or choose bankruptcy.
Detroit, Highland Park and Muskegon Heights are the three Michigan school districts with emergency managers.