FlintTalk.com Forum Index > Political Talk Topic: Emergency Financial managers will have more oversight

Author    Post   untanglingwebs El Supremo Blackwell pay raises red flags | freep.com | Detroit Free Press Apr 18, 2010 ... Highland Park. Three Oaks. School districts with emergency financial managers: Detroit Public Schools. Source: Michigan Treasury ... http://www.freep.com/article/20100418/NEWS02/4180567 - 79k - Cached - Similar pages SIX PAGE STORY WITH RELATED LINKS New safeguards State officials moved swiftly to put new safeguards in place for emergency financial managers after firing Arthur Blackwell II. The Local Emergency Financial Assistance Loan Board, which approves and oversees emergency financial managers, said it now will require: • Monthly reports from the community's chief financial officer on any money paid to the emergency financial manager. • A quarterly review of the community's financial records. • That an emergency financial manager "quickly report possible financial irregularities." • That the community, not the state, make all payments to the emergency manager. Communities in "fiscal stress" Michigan Treasury has classified the following communities as in “fiscal stress.” The list is drawn from 2008 data, the most recent available, using 10 factors to gauge the fiscal health of Michigan’s 1,858 units of local government. While a cause for concern, this classification on its own is not enough to trigger the installation of an emergency financial manager. Cities County Crystal Falls Iron Jackson Jackson Standish Arenac Benton Harbor Berrien Ecorse Wayne Muskegon Heights Muskegon Wakefield Gogebic Villages County Elberta Benzie Middleville Barry County Owendale Huron Townships County McMillan Ontonagon Royal Oak Oakland County Bedford Calhoun Genesee Genesee Counties Hillsdale Under management Communities in Michigan currently run by emergency financial managers: Pontiac Ecorse Communities with financial emergencies, but no emergency financial manager currently appointed to run them: Highland Park Three Oaks School districts with emergency financial managers: Detroit Public Schools Source: Michigan Treasury Mon Apr 19, 2010 8:27 am    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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