January 20, 2006
January 20, 2006
LANSING – Governor Jennifer M. Granholm today signed an executive order revoking the declared financial emergency in the city of Flint. The Governor’s action follows the recommendations of the Local Emergency Financial Assistance Loan Board and State Treasurer Jay Rising. The order is Executive Order 2006-1.
“Today, the citizens of Flint can take great satisfaction in that the financial cloud that has lingered over the city has been lifted,” Granholm said. “The city has made great strides in resolving its financial problems, and I expect the city to remain on sound financial footing into the future.”
Granholm’s action comes on the heels of the city’s latest audit which indicates a budget surplus. At one point in time, the city’s deficit stood at more than $26 million.
Flint Mayor Don Williamson expressed appreciation for the Governor’s order.
“As mayor of the City of Flint, I am pleased Governor Granholm has decided to set Flint free of financial management, allowing us freedom to continue the positive steps towards a balanced budget, with a $6 million surplus in our first year of operation,” Williamson said. “I respect the Governor's role in this and appreciate the ongoing relationship with the Granholm administration.”
The local government financial emergency in the city of Flint was originally declared on May 22, 2002, by then-Governor John M. Engler.
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