Michigan

Michigan lawmakers return to work this week facing a new wrinkle in the proposed restructuring of the fiscally distressed Detroit Public Schools that stands to shape governance issues.

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.

Miller Canfield Plc has added three bond attorneys.

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.

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

Michigan is prepping its first general obligation bond issue of 2016 amid growing uncertainty about the long-term impacts on the state’s credit from Flint’s water contamination crisis and the financial plight of the Detroit Public Schools.

A bill to provide nearly $50 million in state funding to keep Detroit Public Schools open until the end of the school year is headed to the state Senate after clearing the House Thursday.

Michigan Gov. Rick Snyder believes the $232 million he’s asked of state lawmakers will be enough to deal with the Flint water crisis, but rating agency Standard & Poor’s showed doubts, removing the state’s positive rating outlook.

Detroit Public Schools got some positive news on Wednesday by way of nearly $50 million of emergency funding that cleared a House committee Wednesday.

The inaction of local, state, and federal authorities in Flint took center stage during the second congressional hearing on the Flint water crisis.

Voter approval of two property tax millage requests from the junk-rated Pontiac City School District should aid its fiscal recovery efforts by raising fresh funds for capital and relieving pressures on its general fund, Moody’s Investors Service says.

Detroit Public Schools may run out of funds to meet payroll after April 8, the district’s new transition leader told state lawmakers who are being asked to approve $50 million in emergency aid.

Genesee County, Mich., and the Karegnondi Water Authority’s A2 Moody's ratings remain intact despite the risk associated with Flint’s support for the new water system.

A labor-owned insurance company based in Washington, D.C.-based, has pledged $25 million in low-cost loans to aid the removal of lead in Flint, Mich.’s contaminated water supply, the city’s mayor said Sunday.

Water contamination-related lawsuits filed in Chicago and Flint, Mich. stand to influence the sector nationally as the cases draw more scrutiny to the dangers associated with older lead pipe-based systems, Fitch Rating says in a new report.