Michigan releases two cities from state oversight

Michigan releases two cities from state oversight
Michigan releases two cities from state oversight

(Reuters) - Michigan ended state oversight for Pontiac and Lincoln Park on Tuesday, citing improved financial operations for the Detroit-area cities.

For Pontiac, where state intervention began in 2008, a receivership transition advisory board in place since 2013 was dissolved. A similar board created for Lincoln Park in 2015 was also terminated.

The action by Michigan's Treasury Department gives officials in each city full local control of operations and finances, according to Governor Rick Snyder's office.

Treasury officials said Pontiac ended fiscal 2016 with a $14 million general fund balance, while Lincoln Park eliminated its general fund deficit and made required pension payments.

Michigan has put several cities, local governments, and school districts under various forms of oversight, including an emergency manager for Detroit. The city still reports to a financial review commission after it exited what was then the largest-ever municipal bankruptcy in 2014.

In addition to Detroit and that city's public school system, three cities, one township and four school districts remain under state oversight.

(Reporting by Karen Pierog in Chicago; Editing by Matthew Lewis)

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