Nora Colomer

Wayne County, Mich. closed out fiscal 2015 with a $5.7 million surplus, reversing a prior trend of deficits that led to state oversight, according to its audited financial reports.

The time may be ripe to rethink Michigan’s emergency management law after the Flint and Detroit Public Schools crises exposed flaws that critics say highlight how the law can fail citizens and ultimately hurt the state’s credit.

A state oversight board is restoring some executive powers to Pontiac, Mich., moving the city closer to independence after seven years of state control.

The Detroit Public Schools’ recent emergency funding package signals the state government’s commitment to help solve the district’s severe financial distress, Moody’s Investors Service said.

The outlook on North Dakota's issuer credit rating was lowered to negative, as Moody's Investors Service took note of economic and budget struggles triggered by falling crude oil prices.

Allen Park, Mich.'s junk-rated debt's outlook was revised to positive by Standard & Poor's.

Michigan’s emergency manager system for financially distressed local governments came under fire from a task force the state governor appointed to investigate the Flint water contamination crisis.

Michigan lawmakers gave final approval to nearly $50 million of emergency cash needed to keep Detroit Public Schools open through the end of the current school year.

Indiana Governor Mike Pence signed into law $1 billion in new road and bridge funding for the next two years.

A massive restructuring of Detroit Public Schools to help the district avert bankruptcy cleared the Michigan Senate Tuesday.