Lansing, Michigan – December 9, 2015 – State Treasurer Nick Khouri has informed River Rouge Mayor Michael Bowdler that the city has performed well under a consent agreement signed in December 2009 and as a result of significant financial and budgetary reforms, will be returned to local control effective Monday, December 7, 2015.
Khouri noted that the city had made “significant operational and financial progress” since signing the agreement and that “circumstances which led to the financial emergency have been corrected.” Khouri also noted that previous deficits have been eliminated and replaced with multi-million dollar fund balances.
“The city has made significant progress over the last few years to address the financial emergency in River Rouge,” Khouri said. “Local officials have made numerous critical decisions and taken important steps forward to ensure continued fiscal stability. As a result, the city has complied with terms of the Consent Agreement, therefore a release from the agreement is justified.”
Treasury will continue to meet with River Rouge officials quarterly to ensure support for the city as it continues to improve financially, operationally, and provide quality services for its residents.
May 18, 2009
Treasury begins a preliminary review of the City’s finances under Public Act 72 of 1990. The preliminary review finds justification for a deeper financial review.
October 17, 2009
A Review Team is appointed to probe the City’s finances. The Team ultimately concludes that a “serious financial problem” existed in the City.
As an alternative to the appointment of an emergency financial manager, the Review Team negotiates and executes a Consent Agreement with the City, effective on December 15, 2009.
Click To Submit Press Releases, News, Calendar Items, and Community Events to Great Lakes Radio Stations WFXD, WKQS, WRUP, WQXO, and WPIQ