Review team: City of Hamtramck in financial emergency

State financial review team's report says city of Hamtramck will face $3.3 million deficit by end of June

By Dave Bartkowiak Jr. - Digital Managing Editor
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HAMTRAMCK, Mich. - A state financial review team says the city of Hamtramck is in a financial emergency.

View: Financial review team's report on Hamtramck finances

The review team's report says Hamtramck will face a general fund deficit of $3.3 million as of June 30, 2013. That exceeds 5 percent of the $16,070,514 in general fund revenues which the city has budgeted for the 2013 fiscal year, the report says.

Moreover, the amount of unremitted pension contributions was about $1.6 million for the months of September, November, December, January, February and March.

A structural operating deficit has existed in the city's general fund for the past three years.

The five-member state-appointed financial review team has been reviewing Hamtramck's finances since April 17 after city officials requested such a review in late 2012.

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