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Steve Myers
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Gov. Jennifer Granholm said the state will continue to keep an eye on Flint's financial situation, but she would not say when the state takeover would formally end.
An emergency financial manager took over Flint's reins in 2002 after city shortfalls reached more than $40 million. Control of city finances were returned to local leaders July 1, 2004.
The state Department of Treasury is overseeing the transition to be sure "it's done well and done right," Granholm said during a visit Thursday with The Flint Journal editorial board.
"Obviously we don't want to find ourselves in the same position as before."
Flint Mayor Don Williamson and the City Council have sparred over the budget and other matters, but the state is more concerned about the city's financial health than such squabbling.
"They're focused on financials," she said of the treasury. "Has (the city) issued the bonds? Is the management going all right? Are the revenues and expenses matching up? That's really what the treasury is looking at."
The city refinanced its general fund debt in December by selling $8 million in bonds, a move that fulfilled part of the state's plan to allow Flint more financial control. City Hall politics have no impact on the takeover continuing, she said.
"The real impact, by law, must be the financial situation of a community," she said. "We're not getting involved in local politics. If that were true, we'd be taking over every city in the state," the governor quipped
Full Story:
http://www.mlive.com/news/fljournal/index.ssf?/base/news-26/110934842865740.xml |
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Sat Mar 05, 2005 11:34 am |
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