Flint Released from Receivership, All Remaining Emergency Manager Orders Repealed
State Treasurer Nick Khouri announced on April 10 that the city of Flint has been released from receivership under the Local Financial Stability and Choice Act and dissolved the Flint Receivership Transition Advisory Board (RTAB).
Flint was the last municipality to be under state financial oversight through an RTAB.
These actions followed a request from Flint’s mayor and a recommendation to terminate receivership by members of the Flint RTAB. City leadership have regained full local control and are now managing all internal operations and finances without state oversight.
“City management and elected leadership have worked hard to put Flint on a stronger path,” Gov. Rick Snyder said. “With continuing cooperation between the city and state, Flint has an opportunity take advantage of the momentum being felt around the city in terms of economic development, which can lead to stronger budgets and improved services for residents.”
In addition to releasing the city of Flint from receivership, Khouri signed a Flint RTAB resolution that repeals all remaining emergency manager orders.
“Removing all emergency manager orders gives the city of Flint a fresh start without any lingering restrictions,” Khouri said.
In November 2011, a Financial Review Team concluded a financial emergency existed in the city and there was no satisfactory plan in place to address the city’s fiscal problems.
An emergency manager was present from November 2011 to April 2015, when the financial emergency was resolved and the Flint RTAB was appointed to oversee the city’s transition back to local control. The mayor and city council were given more governance authority when the final emergency manager order was repealed in January 2018.