Financial review team's report headed to Gov. Synder - Mid-South News, Weather, Traffic and Sports | FOX13

Financial review team's report headed to Gov. Synder

Posted: Updated:
DETROIT (WJBK) -

The financial review team's report on Detroit's finances is complete and is headed to Gov. Rick Snyder. His staff members tell us he'll have the report in his hands by Tuesday.

In his recent State of the City address, Mayor Dave Bing said Detroit had no emergency manager "to date." But, that could soon change as the governor pours over the financial review team's report. Sources tell a local newspaper the report outlines massive debt and the city's inability to get out from under it. The team reportedly makes it clear they do not believe the mayor and city council can fix this on their own.

"I never want to get into emergency managers if I can help it," Gov. Snyder told a crowd last week at the MGM Grand. "But the city's finances need to get stabilized, they need to get resolved, and we need to move forward."

The governor also told us he has a "short list" of emergency manager candidates but he denied a state takeover is definite.

Detroit faces $12 billion in long term debt and pension liabilities. The review team spent weeks going over Detroit's books; it was the second emergency evaluation in less than a year. Once the governor receives the report he has 30 days to decide whether to appoint an emergency manager.

Stay with Fox 2 and myfoxdetroit.com for updates.

  • Local NewsLocal NewsMore>>

  • Governor Snyder files for reelection

    Governor Snyder files for reelection

    Thursday, April 17 2014 2:54 PM EDT2014-04-17 18:54:57 GMT
     Michigan Gov. Rick Snyder has made his re-election bid official. How many signatures he collected and what he's fired up about tonight. 
     Michigan Gov. Rick Snyder has made his re-election bid official. How many signatures he collected and what he's fired up about tonight. 
  • Auto company investing millions in Oakland County

    Auto company investing millions in Oakland County

    Thursday, April 17 2014 2:54 PM EDT2014-04-17 18:54:44 GMT
    An international automotive company is investing $15.3 million to expand its business in Oakland County, creating more than 100 full-time jobs.
    An international automotive company is investing $15.3 million to expand its business in Oakland County, creating more than 100 full-time jobs.
  • Benefit planned for family of girl who died after accident outside Canton school

    Benefit planned for family of girl who died after accident outside Canton school

    Thursday, April 17 2014 1:33 PM EDT2014-04-17 17:33:10 GMT
    A benefit is planned for the family of an elementary school student who died after being hit by a vehicle during morning drop-off.
    A benefit is planned for the family of an elementary school student who died after being hit by a vehicle during morning drop-off.
Powered by WorldNow

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices