State treasurer's office: Emergency financial manager still option for Detroit
State treasurer says emergency financial manager option for Detroit can't be taken off table
The Michigan treasurer's office says a state-appointed emergency financial manager still is an option for Detroit in the face of its growing budget problems.
Spokesman Terry Stanton says state Treasurer Andy Dillon met Detroit officials Wednesday to discuss "growing concerns ... about the city's near-term ability to meet its financial obligations and its long-term viability."
Detroit's budget deficit exceeds $200 million.
Related: Detroit City Council, mayor's office plan to cooperate to fix financial crisis
A consent agreement between Detroit and the state last year let the city avoid the appointment of an emergency manager, but some say they worry that Mayor Dave Bing and the City Council aren't moving fast enough to enact financial reforms.
"My Administration has had discussions with the state regarding an emergency financial manager previously," said Bing in a statement released Wednesday. "Until the State makes a final determination, I will continue to implement my restructuring plan on behalf of the citizens of Detroit."
Stanton says the financial manager "option cannot be taken off the table" and "delaying reforms and tough decisions only promises to make eventual solutions more difficult and painful."
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