Emergency Financial Control Board

The Emergency Financial Control Board is a special oversight body created to manage and stabilize the finances of a city or organization facing severe financial problems. It has the authority to review budgets, cut costs, and make key financial decisions to ensure the entity can meet its obligations and regain financial health. This board is usually appointed during times of crisis to bring discipline, improve transparency, and restore confidence among creditors, employees, and residents. Its goal is to implement strategic financial reforms to prevent future problems and help the organization recover sustainably.