From StratRisks
''Detroit’s financial condition is rapidly deteriorating, and City Hall
could run out of cash in December, an official told a state oversight
board Monday.
City program management director William Andrews
made the assessment at a meeting of the Financial Advisory Board, a
city-state panel overseeing Detroit’s finances under its fiscal
stability agreement with the state.
Detroit’s cash-flow crisis is
“more challenging than it’s ever been and more challenged than we
reported last month,” Andrews said.''
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