For a period following the city’s emergence from bankruptcy, all city budgets and major contracts had to be approved by the FRC.  At today’s meeting the FRC approved a resolution to waive active oversight for another year. This means the FRC will remain in a limited monitor role, rather than active oversight, as long as the city continues to balance its budgets and comply with other financial requirements. Receiving this additional year waiver is one more indication of the city’s strong financial management practices and a validation that the FRC, like Moody’s, expects Detroit to continue.  DETROIT continues to lead the way forward. Learn more  detroitmi.gov/engagedetroit #EngageDetroit #BelikeDetroit