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Detroit ends quarter with $128 million in cash

October 16, 2013 • Business


Detroit Emergency Manager Kevyn Orr is seen during an interview at the Detroit Economic Club luncheon in Detroit, Thursday, Oct. 3, 2013. Christie’s auction house will finish its initial assessment of 66,000 art pieces at the Detroit Institute of Arts this month, Orr said, defending their possible sale in Detroit’s bankruptcy process. (AP Photo/Carlos Osorio)

DETROIT (AP) — Detroit ended September with a positive cash flow, largely because it defaulted on many of its financial obligations while still collecting property taxes, according to a report Wednesday by the bankrupt city’s emergency manager.

In his report to the state treasurer’s office, Kevyn Orr said the city had an unrestricted cash Login to read more

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