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Magic City Finances

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Billings will not have the same fate as the city of Detroit.

That's according to Billings City Administrator Tina Volek. She says Billings is in good standing for a number of reasons. One of them is that the population in Billings is growing, while Detroit's population is shrinking.

"The city of Billings has been incredibly financially conservative fiscally conservative. The city council several years ago gave us a recommendation or a demand that the city staff not provide a budget that balanced ourselves on our reserves," says Volek.

Another reason the Magic City won't declare bankruptcy is because it doesn't have its own pension system, it belongs to the state pension system.