The former state-appointed emergency manager for Highland Park Public Schools is Detroit's new chief financial officer.
Mayor Dave Bing on Thursday announced the hiring of Jack Martin, an accountant and founder of Martin, Arrington, Desai & Meyers PC.
Martin was appointed in January by Gov. Rick Snyder to fix the finances in the Highland Park district. He also was chief financial officer of the U.S. Department of Education from 2002-2005.
Detroit's chief financial officer position was created under a deal between the city and Snyder as an alternative to a state takeover. The city has a $265 million budget deficit and $13.2 billion in long-term structural debt.
Snyder on Thursday replaced Martin in Highland Park with Joyce Parker, emergency manager for the city of Ecorse.
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