PONTIAC, Mich. -

Gov. Rick Snyder says the financial emergency in Pontiac is moving to an end with the appointment of a transition board to move the city from state control back to elected self-government.

Snyder said in a statement Monday that he's "pleased to see Pontiac emerge as a financially stable city and return to local control."

Related: Pontiac gets financial upgrade, stable outlook for future

Pontiac emergency manager Lou Schimmel notified the governor Friday that the city of 60,000 is ready to leave state control.

Snyder says Schimmel enacted a two-year budget and "will continue to be involved in Pontiac" as a member of the transition board.

Pontiac's finances have been under state supervision since 2009.

Detroit, Ecorse, Benton Harbor, Allen Park and Flint remain under the control of state-appointed emergency managers.