Review team appointed by Gov over Flint finances
By Laura Weber, MPRN News
LANSING, MI – Governor Rick Snyder has requested a review of Flint's finances in 30 days to determine whether the city needs an emergency manager. The governor appointed the review panel Friday.
Terry Stanton is with the state Department of Treasury. He says the panel will speak with city officials and review all of Flint's finances.
"Whether that be revenues, expenditures, future obligations, current debt, whatever the case may be," says Stanton. "So the review team will consider any and all information that is brought to the table, will ask a lot of questions of folks, in determining whether or not there is a financial emergency in the city of Flint."
Flint's mayor, who is running for reelection in November, says he thinks it's appropriate for the panel to make a decision quickly. If an emergency manager were put in place, the mayor could be stripped of all power. This is the first financial review panel established since the state's new emergency manager law went into effect earlier this year.