ROYAL OAK TOWNSHIP, Mich. — Officials say a Detroit suburb has been released from conditions of an agreement designed to improve its financial condition.
State Treasurer Nick Khouri said in a statement Wednesday the consent agreement between Royal Oak Township and the Michigan Department of Treasury has expired. He says the township “enacted policies that provide the community an opportunity to flourish.”
Michigan says progress has been made since 2014 to resolve issues that led to a financial emergency for the Oakland County community. For example, they note the township now has a general fund balance of $920,000 instead of a deficit. And they say police and fire services are improved.
Township Supervisor Donna Squalls says the community has been able to work with the state and “enact reforms to ensure our long-term fiscal sustainability.”