(LANSING, Mich.) -- Gov. Rick Snyder announced the appointment of a Receivership Transition Advisory Board after the financial emergency in Benton Harbor, Mich. was deemed resolved.
Snyder called the announcement "an important day for the residents of the city of Benton Harbor."
The city's Emergency Manager Tony Saunders submitted a two-year budget on March 6 and issued his final order as emergency manager on March 7.
Saunders called it a "privilege" to work for the city of Benton Harbor and said he worked to take "critical steps in righting the city's finances."
Snyder cited the city's general fund spending being reduced by 30 percent, cost savings through collective bargaining agreements and pension contribution changes, among other things, in his decision to accept Saunders' claim that the city's financial issues were resolved.
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