DETROIT (AP) - Wayne County has received approval from the state of Michigan to be released from a 14-month agreement to fix its finances.
County Executive Warren Evans announced the update Thursday, two weeks after he made a formal request to the state treasurer. In a statement, Evans says the county “is in its best fiscal position in quite some time, but there’s still a long way to go.”
Evans’ office says the county has eliminated a $52 million structural deficit and $82 million accumulated deficit while restructuring employee and retiree health care.
Gov. Rick Snyder confirmed in 2015 that a financial emergency existed in the county and the county entered into the consent agreement. The agreement required the county to eliminate its structural deficit and demonstrate that fiscal stability has been restored.
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