Restructuring costs add to city budget By T. Kelly The Michigan Citizen DETROIT — In the name of “restructuring the city,” Emergency Manager Kevyn Orr is committing the city to a minimum of $22.003 million in additional spending. Following is a partial listing of financial advisers, law firms and consultants — most not located or paying taxes in the city — being paid as part of the “restructuring team:” Emergency Manager $400,000 budgeted expenses (The state pays the EM $275,000 salary) Chief Finance Officer $220,000 Chief Operating Officer $220,000 (plus staff) Conway McKenzie $4.2 million Plus Financial Advisory fee $162,000 bi-weekly Ernst & Young $ 9.3 million Financial Advisory Board $225,000 Nine members at $25,000 each plus their hotel, meals, travel expenses Gary Brown $220,000 Jones Day $ 3.35 million Plus expenses Miller Canfield $500,000 Milliman $325,000 Plus $150,000 a month Miller Buckfire $ 1.8 million Plus $150,000 a month Parsons Brinckerhoff $100,000 Transmission Maintenance Construction LLC $80,000 In addition, there is the interim budget director, deputy budget director, Budget Department employees and Finance Department employees.
Posted on: Sun, 28 Jul 2013 14:08:46 +0000
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