The fiscal year for the city ends on June 30 2010. There is 60 (sixty) days at the end of that date to get reports in. That would be August 29, 2010 the report should be issued. The report was issued on November 5, 2010 telling the treasury department of Michigan of the deficit in the city.
This is my way of thinking about it, the city has not gotten back one penny for one house that they bought. Forget about the bidding process, or the rehab homes. What about the cost of the homes to begin with why haven’t we gotten even the price of one home? For a year and a half we have been paying out money. Home bought and paid for we should have seen money for them long ago. That would say to me that there is more then just some documents missing. How far back are we going? I think that is things were done right from the beginning we would not have this back up. I look at it like a pipe the pipe has a clog in it. Where is the clog at the beginning, end, or middle of the pipe? Until the clog is cleared away the water will not flow. Until this clog is cleared the money will not flow back to the city.