Pontiac Emergency Manager Lou Schimmel says the city will have a balanced budget in 2013, but he cautions the good news doesn't mean the Oakland County city is out of the woods yet.
Shcimmel tells The Oakland Press that a one-time sale of wastewater bonds helped close the gap for this budget cycle.
The Oakland Press: “That puts the city in the black for the fiscal year ending June 30, 2012,” Schimmel said. “Is it structurally fixed for the year following? The answer is no. Between now and June 30, 2013, additional reductions are going to have to be made, and probably the majority of that is going to be made in the retiree healthcare area.”
Read more:
The Oakland Press
