Michigan Department of Treasury Begins Review of Wayne County Finances
Following Warren Evans’ request for a financial emergency in Wayne County, the MI Dept of Treasury is beginning a review
Wayne County’s finances are undergoing a preliminary review by the Michigan Department of Treasury. County Executive Warren Evans submitted a request to declare a financial emergency this week, citing a $52 million structural deficit. Treasury spokesperson Terry Stanton says if the department determines probable economic stress, a governor-appointed team will examine the situation.
“[The team will] take a slightly deeper dive into the local unit’s financial situation in an attempt to determine whether or not there’s a financial emergency, and if that were to be the case, then the governor could determine that there is a financial emergency and then the local unit has the option of deciding how it wants to remedy that financial emergency.”
-Terry Stanton
Stanton says the Treasury Department’s review can last up to 30 days, but he expects it to finish sooner. Evans says he estimates that Wayne County’s deficit will grow to more than $170 million if left unchecked.
