Council committee to hear consent deal progress

Published On: Oct 10 2012 04:31:05 AM EDT
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DETROIT -

Members of the Detroit City Council are expected to receive an update on efforts to balance the city's budget and fix its fiscal troubles.

The council's Budget, Finance and Audit Standing Committee has scheduled a discussion Wednesday afternoon at City Hall on the monthly report of the Financial Stability Agreement with the state.

The city's chief financial officer and project management director are on the agenda for the meeting.

The financial stability agreement was approved in April by Gov. Rick Snyder and Mayor Dave Bing. It was developed as an alternative to the imposition of a state-appointed emergency manager to take over the city's operations.

As part of the deal, a nine-member Financial Advisory Board was put in to place to monitor Detroit's budget and fiscal turnaround.

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