Flint Mayor Dayne Walling held a press conference this afternoon where he said the Governor's request to fast-track a financial review of the city was "appropriate" and "we need to get through it."

Earlier today, the Governor announced the appointment of an eight-member review panel that will examine the city's finances after a review by State Treasurer Andy Dillon's office found financial distress. Issues included cash shortfalls and a failure to follow the state's approved deficit reduction plan.

Walling said "the challenges in the City of Flint are well known and we've had a number of financial issues we've wrestled with for a long time. We know we need additional cooperation to get those done. My administration will fully support and cooperate with the state review and will continue to implement cost savings as we go forward so we can continue to improve the city's financial condition."

Walling also announced that the City of Flint has complied with the first criteria of the state's Economic Vitality Incentive Program, which is necessary in order to continue receiving revenue sharing. The City will now receive $1.5 million which had already been factored into the adopted budget. A performance dashboard for the city of Flint can be found here.