Flint’s finances in better shape; no more emergency managers

Gov. Rick Snyder (AP Photo/Carlos Osorio)

FLINT, Mich. (AP) — Gov. Rick Snyder has declared an end to Flint’s financial emergency.

Snyder made the announcement Wednesday after a state board approved a $7 million loan to eliminate Flint’s deficit. The governor says it’s a “new day” for the Genesee County city.

Flint has been run by four emergency managers since 2011. Its deficit was nearly $20 million in 2012.

Emergency manager Jerry Ambrose is returning Flint to local officials, although a five-member transition board will have a significant role in reviewing major contracts and budgets.

Deputy state Treasurer Wayne Workman says four of the five have strong ties to Flint. The city has a population of just below 100,000 — way down from 180,000 in the 1960s.

WOOD TV8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s