Michigan Gov. Jennifer Granholm has named Washington, D.C., consultant and former deputy mayor Robert Bobb to be emergency fiscal manager for the Detroit Public Schools.

The appointment comes about a month after the state declared DPS to be in a state of fiscal emergency stemming from a $130 million deficit and lack of a plan to overcome the shortfall. The state took over the district’s finances, and as the new fiscal manager, Bobb will have authority over its $1.1 billion annual budget.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.