WAYNE COUNTY – Michigan's Department of Treasury has reached a decision concerning Wayne County's consent agreement with the state.
There is no word yet on whether or not Michigan agreed to release the county from the agreement. But, Wayne County Executive Warren Evans plans to announce the status of the agreement to members of the media on Thursday, October 20.
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The consent agreement gave the state some oversight of the financial decisions made by Wayne County.
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.
In his request to the state, Evans cited elimination of the structural deficit and two years of balanced budgets "with an accumulated unassigned surplus of $35.7 million for fiscal year 2015" and more expected for 2016.
However, there are still two issues that have not been solved yet. The pension system is underfunded, although it has improved from almost $818 million in September 2014 to $637 million in September 2015. Also, a resolution to the unfinished jail hasn't been reached.