State officials released Royal Oak Township from its consent agreement Wednesday.
Michigan Treasurer Nick Khouri said the Oakland County community is now free of the deal, which the township was under since 2014 to resolve a financial emergency.
“I am pleased to see the significant progress Royal Oak Charter Township has made under the consent agreement,” Khouri said in a statement. “Township officials went beyond the agreement and enacted policies that provide the community an opportunity to flourish. I am pleased to say the township is released from its agreement and look forward to working with them as a local partner in the future.”
Royal Oak Township's financial emergency resulted in an assets deficit of nearly $541,000 for the 2012 budget year.
Township officials praised the news.
“Royal Oak Charter Township is in better shape than ever,” Donna Squalls, the township's supervisor, said in a statement. “The collaboration between state and township has provided an opportunity to enact reforms to ensure our long-term fiscal sustainability.”
Located just north of Detroit, the township has a population of about 2,500.
Khouri also said the township was the last Michigan municipality following a consent agreement.
Over the last two years, Wayne County, Inkster and River Rouge were released from consent agreements due to financial improvements and operational reforms. He said only three communities – Ecorse, Flint and Hamtramck – are under state oversight through a Receivership Transition Advisory Board.