Detroit has enough cash to survive December, official says (Detroit Free Press)

December 4, 2012 – Detroit will be able to pay its bills this month, but faces a critical test in the first quarter of 2013 on whether it can do enough to prevent running out of cash, top Bing administration officials said today. The comments appeared to signify the administration stepping back from earlier warnings that Detroit was teetering on the edge of a fiscal cliff, with a cash crisis likely as early as Dec. 21 because the city’s revenues were falling and its costs rising. The city’s program management director, William (Kriss) Andrews, said Detroit will survive December with enough money to pay workers and other bills. “We’ll get through December,” Andrews said at a news briefing this afternoon.

Link to Full Article: http://www.freep.com/article/20121204/NEWS01/121204057/1001/news

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