State Treasurer Nick Khouri says Flint's mayor and city council now have the ability to conduct most city business without state oversight.
Khoury said Monday that state oversight through the Flint Receivership Transition Advisory Board has been diminished after the panel recommended moving the city out of receivership and continuing the process of transitioning to full local control.
“Today is an important day for our shared goal of moving Flint forward,” Khouri said in a Treasury Press Release. “Thanks to the progress city leaders have made, this is an appropriate time for the mayor and city council to assume greater responsibility for day-to-day operations and finances.”
In November 2011, a financial review team concluded a financial emergency existed in Flint and there was no satisfactory plan in place to address the city's fiscal problems. The city had an emergency manager until April 2015, when the financial emergency was resolved and the Flint Receivership Transition Advisory Board was appointed to oversee a transition to local control.
Mayor Karen Weaver says it's an "exciting development" for her city.
