Michigan Gov. Rick Snyder will propose giving public schools, universities and community colleges two percent more overall funding in the next school year.
Detroit’s fiscal future could soon be out of its hands if a team of state officials determines that the nation’s former auto and manufacturing giant is so firmly entrenched in a financial emergency that it cannot climb out on its own.
An audit says Detroit’s accumulated general-fund deficit is nearly $327 million.
Gov. Rick Snyder has signed a law that gives distressed communities the ability to choose an emergency manager or other remedies to fix their finances.
More than 200,000 Detroit residents living below the poverty level struggle every day to avoid their own personal fiscal cliffs. When you grow up poor in Detroit, strategies must be developed to survive.
A preliminary review of Detroit’s finances has determined that the city is not on target to fulfill promises to the state that allowed the city to avoid having an emergency manager appointed to oversee it, the state Treasury Department said Friday.
The most recent end-of-the-year bonus checks issued by cash-strapped Detroit to nonunion city employees may be the last.
Months after Mayor Dave Bing said he wanted to eliminate so-called longevity pay, the cash-strapped City of Detroit has issued bonus checks to nonunion city employees.
Detroit City Council and the mayor’s staff are meeting Tuesday morning to avoid their own version of the fiscal cliff.
The next 30 or so days likely will show just how dire Detroit’s fiscal plight is as Mayor Dave Bing’s office pours over plans to make up millions of dollars in bond money the city failed to get from the state.
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