January 2012 | NJPA News you can Use

Budgets and the Economy

Mayor: Detroit Won’t Run Out of Cash by April – Detroit is no longer at risk of running out of cash by April because cost-cutting and other measures are taking effect, Mayor Dave Bing said, but the city council president and others do not share Bing’s optimism.  Bing presented a financial and operational restructuring plan update to the council Thursday afternoon. It highlights cost savings from 1,000 imminent layoffs, overdue payments from the Detroit Public Schools district and a corporate tax increase he says will mitigate a cash shortfall.  Read more….