DETROIT – Wayne County Executive Warren Evans
has requested that the state find a financial emergency in the county and enter
a consent agreement to help the county address its debt.
Though the county has reduced its
annual deficit to $9.9 million for the current fiscal year from $157.5 million
in FY 2012-13, Mr. Evans said in his letter to Treasurer Nick Khouri that the deficit is projected to grow again to $171.4
million in FY 2018-19 under the county’s current revenue track.
The county also faces a $49.3
million court judgement over contributions to its retirement fund.
“As the County’s fiscal
situation will continue to deteriorate without further remedial measures, the
time has come to rectify the County’s structural deficit, and time is of the
essence,” he said in a letter requesting the emergency finding.
State officials confirmed the
Department of Treasury has received the letter and officials are reviewing the
request.
Wayne County Executive Warren Evans
has requested that the state find a financial emergency in the county and enter
a consent agreement to help the county address its debt.
Though the county has reduced its
annual deficit to $9.9 million for the current fiscal year from $157.5 million
in FY 2012-13, Evans said in his letter to Treasurer Nick Khouri that the deficit is projected to grow again to $171.4
million in FY 2018-19 under the county’s current revenue track.
The county also faces a $49.3
million court judgement over contributions to its retirement fund.
“As the County’s fiscal
situation will continue to deteriorate without further remedial measures, the
time has come to rectify the County’s structural deficit, and time is of the
essence,” he said in a letter requesting the emergency finding.
State officials confirmed the
Department of Treasury has received the letter and officials are reviewing the
request.
