PITTSBURGH—One of two boards that oversee Pittsburgh's finances says the city has recovered enough financially that is should regain control of its budget.

The Act 47 recovery team, which has supervised the city since 2004, said as much in a letter to the state Department of Community and Economic Development, which has the authority to release the city from a financial oversight law governing economically distressed cities.

City spokeswoman Joanna Doven says Mayor Luke Ravenstahl has previously called for an end to oversight of the city's finances.

But even if that happens, the city's finances would still be monitored by a second board, the Intergovernmental Cooperation Authority. The IGA was created by state lawmakers and to provide more oversight, and has the power to approve the city's budget.