Nora Colomer

Legislation that would pave the way for state oversight and appointment of an emergency manager for Indiana’s embattled Gary Community School Corp. in Indiana is headed to the state House after passing the Senate.

Indiana is looking for solutions to concerns S&P Global Ratings raised over its school bond intercept program when it placed the program on CreditWatch negative.

Canton, Ohio, was slapped with a two-notch downgrade over its ongoing budget struggles.

Michigan Gov. Rick Snyder presented a fiscal 2018 budget plan to tackle the state’s unfunded retiree obligations and bolster education funding while maintaining growth in the rainy day fund.

Wayne County Executive Warren Evans said he is keeping the county’s options open for a jail site after the backers behind a Major League Soccer expansion bid proposed a site swap.

Michigan Gov. Rick Snyder has formed a task force charged with recommending how to tackle local governments’ unfunded retirement obligations.

Ohio-based public utility, Dayton Power and Light, plans to shift its business away from coal-fired generation and modernize its grid under an electric security plan that may represent a credit positive.

Threatened school closures in several Michigan school districts are a credit negative, according to Moody’s Investors Service.

Indiana moved a step closer to taking over the distressed Gary Community School Corp. with the unanimous committee passage of legislation that would pave the way for state oversight and appointment of an emergency manager.

Allen Park, Michigan took its final step toward financial independence on Tuesday, regaining full local control its operations and finances after nearly four years of state oversight.

Wayne County, Mich. said it expects a general fund operating budget surplus of $44 million, news the county hopes will bolster its fiscal position as it advances plans to complete its downtown jail project that will require $200 million of borrowing.

Ohio Gov. John Kasich is looking to reduce the state’s reliance on income tax revenue by raising the taxes on cigarettes, beer and wine, gas drilling and raising and expanding the sales tax.

Wayne County, Michigan is taking the next step toward reviving its bond-financed downtown Detroit jail project.

Battle Creek, Michigan’s general obligation bonds and issuer default rating took a one notch downgrade to AA-minus from Fitch Ratings.

A new tool to help Ohio cities and counties gauge their fiscal health found that 16 cities and one county meet the threshold for having high fiscal stress.

A reappraisal of Detroit property taxes means that more than half of homeowners will see a reduction in taxes for the fourth year in a row, which could help the city’s post-bankruptcy economic prospects as more property owners keep current.

Michigan needs to do more to help cities control the costs of infrastructure and healthcare spending, the Michigan Municipal League says in a new report.

Indianapolis’ upcoming $68 million bond sale marks a return to property tax-backed debt borrowing for the city after an eight-year absence.

Royal Oak, Mich., is awaiting state approval on a $126 million general obligation-backed retirement obligation bond deal that would help the city pay off its legacy retirement obligations.

Michigan's underfunding of its infrastructure could crowd out the state's ability to fund other priorities such as improving pension funding at a time when tax revenues are beginning to slow, according to a Moody's Investors Service.