Audit reveals mismanaged funds, errors in Flint finances

News

FLINT, Mich. (AP) – An audit has revealed that the city of Flint is saddled in more than $370 million in pension legacy costs that remain unfunded.

The audit also revealed significant errors and financial risks that occurred under the purview of former Mayor Karen Weaver. Flint Mayor Sheldon Neeley told The Detroit News that he’s working on taking action to move past the problems the audit revealed.

Democratic Senate Minority Leader Jim Ananich pointed to Flint’s lead-tainted water crisis and severe population decline as contributing factors to the city’s financial struggles. The audit shows Flint has more than $620 million in unfunded pension and retiree health care costs.  

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