Northeast

The Internal Revenue Service is conducting an audit of the Philadelphia School District, officials have confirmed.

Maine plans to issue $116.8 million of general obligation bonds through competitive bid, the first time the state will sell long-term debt competitively since 1990.

The Dormitory Authority of the State of New York Thursday will sell $684.2 million of tax-exempt and taxable personal-income tax revenue bonds through competitive bid.

The Port Authority of New York and New Jersey will sell up to $1 billion of taxable bonds this summer to help finance construction of One World Trade Center in lower Manhattan.

New York City tax collections during the next four years will come in $5.56 billion above Mayor Michael Bloomberg’s revenue projections, according to a report from the city’s Independent Budget Office.

New Jersey Gov. Chris Christie Tuesday directed the Legislature to find $500 million of additional school spending in his fiscal 2012 budget after the state Supreme Court ruled that his proposed funding for schools is unconstitutional.

Massachusetts will sell $490 million of new-money general obligation debt Tuesday as the state looks to broaden its retail investor base.

New Jersey Treasury Department officials Tuesday announced the state will collect $511 million more in revenue this year and next than previously expected.

Nassau County residents this summer could weigh in on a $400 million borrowing to help finance two new sports facilities on Long Island.

The Massachusetts Institute of Technology last week sold $750 million of taxable bonds that mature in 100 years.