The city of Detroit is on track with its sweeping restructuring and reinvestment plan rolled out almost one year ago when the city exited the nation's largest municipal bankruptcy, according to a new commission report, the Detroit Free Press reported today. In a biannual report to Gov. Rick Snyder, the Detroit Financial Review Commission concluded that the city has been in compliance with the plan in its first year by providing commission members with updated financial plans. The commission has reviewed and approved 237 city contracts and one collective bargaining agreement between the city's transportation department and a transit union. In addition, the city has amended its budget and issued new debt with the review and consent of the commission, according to the report.
