Caitlin Devitt

A struggling Cleveland suburb that is in a state of fiscal emergency wants the state to restore the $6.7 million in local government aid cuts.

Two years after defaulting on a bond payment, the school district of Pontiac, Mich. has stabilized under state oversight but could go broke by July without additional aid, according to Moody's Investors Service.

As cash-strapped governments like Illinois and Chicago eye non-traditional revenues like gambling and marijuana, economists and government officials warned that so-called sin taxes are no panacea for budget shortfalls.

Fitch Ratings boosted its outlook to positive from stable on Cleveland, Ohio, saying the outlook reflects improved financial operations and an increase in reserves.

Despite the bankruptcy of its current operator, the Indiana Toll Road continues to show the benefits of privatization, as does the new $5.7 billion bid for the road, Wells Fargo says in a new report.

The head of Wayne County, Mich., which is on track to run out of cash by next year, announced a series of cuts that mark the first phase of a larger restructuring aimed at staving off a state takeover.

Moody’s Investors Service downgraded the Chicago-area Forest Park Park District two notches to Baa1, assigning a negative outlook.

A coalition of reformers charged with making recommendations to Gov. Rick Snyder to overhaul the troubled Detroit school district wants the state to take over the district's general fund debt payments, which total $53 million a year.

Indiana lawmakers scrambled Monday to stop financial fallout from a controversial bill signed into law by Gov. Mike Pence last week.

A Detroit-based coalition is set to release Monday afternoon a series of recommendations that Michigan Gov. Rick Snyder will use to help guide a high-profile reform of the troubled Detroit school system.

Illinois Gov. Bruce Rauner said he was sign “as quickly as possible” legislation that fixes a $1.6 billion hole in the current budget with a one-time funding fix.

Officials building a long-stalled fertilizer plant in Indiana hope that the fifth time is a charm when it comes to having to remarket $1.2 billion of short-term notes before rolling it over into long-term debt.

Ohio next week will launch its first public-private partnership with the sale of $230 million of tax-exempt private activity bonds for a highway through the Appalachians.

Moody’s Investors Service hit Detroit Public Schools with another downgrade late Monday, warning that the troubled district faces major fiscal stress and a rising debt burden.

Michigan Gov. Rick Snyder is touring the state urging voters to approve a May referendum to raise the state sales tax to generate new money for roads, saying it’s key to the state’s continued rebound.

The Ohio State University wants a private firm to take over its energy system for 50 years in exchange for an upfront cash payment, marking another first for a public university.

Gary, Ind., a rare issuer and the state's most distressed city, is coming to market this week with $15.3 million of unrated, casino revenue-backed bonds.

Ohio Transportation officials have launched a $2.4 billion capital plan for 2015 that’s the second-largest in state history and features the state’s first public-private partnership.

The chief financial officer of Ohio State University, who helped craft the university's first-of-its-kind lease of its parking system, is leaving the university to take a job at the Australian company that is leasing the parking system.

Macomb County reduced the maturity down to 20 years from 25 years on $263 million of OPEB bonds it sold last week, a move it said saved the county $47 million in interest costs.