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Detroit Nears End to State Oversight as City Finances Recover

  • Financial Review Commission holds vote to end oversight Monday
  • Once-bankrupt city achieved three straight years of surpluses
detroit

Photographer: Laura McDermott/Bloomberg

Detroit appears poised to emerge from years of state financial oversight, showing the city has made strides toward reversing the long economic and fiscal decline that pushed it into a record-setting bankruptcy.

Michigan’s Financial Review Commission, set up in 2014 to monitor Detroit, will vote Monday on whether to put an end to its oversight of a city that has been under some form of state supervision since 2012. The vote comes after Detroit ran three straight years of budget surpluses, passing a key condition for lifting the supervision.