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Detroit cash flow improves

A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013.
Credit: Reuters/ Rebecca Cook
A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013. Credit: Reuters/ Rebecca Cook

DETROIT (WKZO) -- Cash flow to the city of Detroit has improved for the first time since the city filed for bankruptcy.  According to a report, the city had an unrestricted cash balance of 128.5-million dollars during the last quarter, which ended September 30th

Even though there was an improvement in cash flow, revenue fell roughly nine-percent.  Property tax revenue also plummeted more than 17-percent and tax revenues from Detroit’s three casinos dipped roughly four-percent.

The report shows the improved cash flow was largely due to the city not paying unsecured bond debt and withholding 44-million dollars in payments to two pension funds.

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