Financial wiz Bob Daddow keeps Oakland County out of the red

Oakland County stays out of the red thanks to Bob Daddow.

Excerpt:

When the economy still was humming along in 2005, Bob Daddow was troubled by a bar graph showing property tax assessments in Oakland County.
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They continued to rise, but the growth rate had slowed three years in a row, and foreclosures were threatening to turn them negative, reducing money for county government. As Oakland County’s chief money man, he urged spending restraint and later ordered monthly reports to track home sale prices.

Last fall, when the data showed his fears were coming to pass, the county froze hiring, engineered the retirement of 150 employees and gave department heads orders to cut their budgets. The county budget is balanced through 2010, and Daddow and others are working on 2011.

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