Pontiac and Lincoln Park improve finances enough to get out from under state oversight
The cities of Lincoln Park and Pontiac have both improved their finances enough to exit state oversight and return to local control, according to press releases issued today by the Michigan Department of Treasury.
The Receivership Transition Advisory Boards, which have been monitoring the cities' finances since the departure of emergency managers, have been dissolved. That means locally elected officials have complete control of the municipal government again.
Lincoln Park has eliminated its deficit and is now making regular contributions to its pension fund. The Detroit suburb has been under state oversight since 2014.
Pontiac’s mayor asked the state for a financial review ten years ago. It’s operated under a consent agreement and an emergency manager. Now the state says it has a general fund balance of $14 million.
Lincoln Park and Pontiac join Wayne County, Benton Harbor, Highland Park, and four other cities that have exited state oversight. Nine cities and school districts remain under some sort of state oversight, but only Highland Park Schools still has an emergency manager.