Detroit - After Emergency Manager

Detroit - Emergency Manager

What Happens After Emergency Manager

Below is a summary of a proposal made by Kevyn Orr to the creditors of the city of Detroit on June 14, 2013 regarding what happens in 18 months when Emergency Manager is done. These items are discussed on page 111 of the original document. The purpose of this post is to give you a simple summary of this section of the plan. Here is copy of entire plan.

Appointment Of "Transition Advisory Board"

• Governor to appoint an Advisory Board to monitor the affairs of the City prior to removing it from receivership 
• Board to consist of State Treasurer, the Director of the Department of Technology Management and Budget and one or more individuals at Governors discretion. 
• The Advisory Board would be empowered to do the following. 
• Require the city to annually convene a consensus revenue estimating conference for the ensuing fiscal year. 
• Require City to provide monthly cash flow projections and a comparison of actual and budgeted revenues and expenditures. 
• Review and Approve the City's proposed and amended budgets. 
• Review request by City to issue debt under applicable law. 
• Review and approve City's compliance with any deficit elimination plan; and 
• Perform any other duties assigned by the Governor at the time Transition Advisory Board is appointed. 

The Governor has the ability to appoint another Emergency Manager after the initial tenure is completed.