FlintTalk.com Forum Index > Political Talk Topic: Michigan's broken revenue sharing promises hurt cities

Author    Post   untanglingwebs El Supremo · Revenue Sharing Searchable Data – SaveMICity www.savemicity.org/search/ Local government has had approximately $8.1 billion in revenue sharing diverted from the delivery of local services by the State of Michigan. ... SaveMICity is an initiative started by the Michigan Municipal League aimed at fixing Michigan's ... SAVEMICITY.ORG Revenue Sharing Searchable Data – SaveMICity Revenue Sharing Searchable Data Local government has had approximately $8.1 billion in revenue sharing diverted from the delivery of local services by the State of Michigan. Take a minute to find out how your community has been affected by using our diverted revenue sharing lookup tool. Search th... · SAVEMICITY.ORG See How Much Revenue Sharing Dollars the State Has Diverted from Your Community – SaveMICity See How Much Revenue Sharing Dollars the State Has Diverted from Your Community April 11, 2017 Matt Bach Uncategorized 2 Comments The state of Michigan has now diverted more than $8.1 billion in revenue sharing from… BLOGS.MML.ORG Legislature Wraps Up Action on State Budget Late this afternoon, both chambers completed action on the state’s omnibus budget bill for the coming fiscal year. Senate Bill 848 combined each of the departmental conference reports that h… · BLOGS.MML.ORG Legislature Continues Debate Over PPT Reimbursements As communities prepare for the next round of personal property tax reimbursements later this month, the Legislature is continuing the discussion over how any dollars remaining after all losses are … Like · BLOGS.MML.ORG Decoding October’s PPT Reimbursement Payment On October 20th, the Local Community Stabilization Authority began distributing approximately $200 million to local units of government as reimbursement for their annual losses related to the new P… Tue Oct 30, 2018 12:01 pm  untanglingwebs El Supremo This has been a concern of all Michigan Cities for years MML.ORG The Great Revenue Sharing Heist There have been a lot of high profile robberies over the years. The Lufthansa robbery, D.B. Cooper highjacking, the Antwerp Diamond Caper...but these crimes look amateurish compared to the state of Michigan’s Great Revenue Sharing Heist. The state has managed to pinch over $6 billion in revenue sh... What is most shocking is the difference those revenue sharing dollars would have made at the local level. As I stated at the onset of this article, we now have a record number of communities facing financial emergencies. It’s easy to blame local leaders, but you must consider all the facts. In most cases, communities that currently face large deficits would in contrast have general fund surpluses. "Let’s Get Specific: Four Cities’ Cuts So what does it mean to specific com-munities? For Allen Park, an $857,000 deficit in 2012 becomes a surplus of over $5 million and would grow to a projected surplus of $7.3 million by 2014. Hamtramck’s deficit of $580,000 would have been a surplus of $8.7 million. Flint will have lost $54.9 million dollars by the end of 2014. The deficit in its 2012 financial statements is $19.2 million. Flint could eliminate the deficit and pay off all $30 million of bonded indebtedness and still have over $5 million in surplus. In Detroit, a city facing the largest municipal bankruptcy in history, the state took over $700 million to balance the state’s books." In my view, there are three major factors that have led communities to the financial brink: post retirement costs; a steep decline in property values; and a dramatic reduction in state revenue sharing. The third factor will be the focus of this article. "Post retirement costs are a huge issue that locals are grappling with. Change here is difficult at best; local governments are hamstrung with contracts and laws that make transformation slow. The property tax declines local governments have experienced could not have been anticipated to the degree they occurred, and are certainly out of the control of anyone in this state. Statutory revenue sharing, on the other hand, has been unilaterally taken by the state to solve its budget issues. It’s a fact. Revenue sharing is paid from sales tax revenues, which have been a remarkably stable source of income, and have in recent years experienced significant growth." Tue Oct 30, 2018 12:13 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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