Differences in Proposed Consent Agreements between the City of Detroit and the State of Michigan
Note 2012-01, March 2012
The City of Detroit has projected that it may run out of cash in May.
As the 30 day extension of the Review Team’s allotted time to evaluate the financial condition of Detroit city government neared its end without agreement on a plan that could prevent appointment of an emergency manager, State Treasurer Andy Dillon delivered a proposed draft consent agreement to the state appointed Review Team and the Mayor on March 12th.