DETROIT – With Detroit Emergency Manager Kevyn Orr watching from the audience, the Detroit Financial Review Commission met for the first time on Wednesday.
Mayor Mike Duggan, City Council president Brenda Jones, State Treasurer Kevin Clinton, Budget Director John Roberts, and five others appointed by Governor Rick Snyder, make up the nine-member Financial Review Commission.
The Commission, which was created under the "Grand Bargain" legislative package (Public Act 181 of 2014), is tasked with overseeing contracts and borrowing in an effort to prevent similar spending decisions that led the city into the nation's largest municipal bankruptcy filing.
Duggan said he looks forward to working with the commission.
"I see my job as being fully supportive of the commission so that they report to the legislature, the public that Detroit is operating in a financially responsible manner," he said.
The mayor explained that the commission has the ability to go from a "control period" where they meet regularly and approve the budget to a "non-control" period where they meet annually for the next 10 years.
One of the commission members, Darrell Burks, a certified public account, said it's not a responsibility he will take lightly.
"The plan of adjustment is clear on what needs to be done. It is not easy to execute but I think it will be easy for us to do what's in the plan of adjustment," he said.
Special section: Detroit's Bankruptcy