MLive carries Kyle Feldscher's story.

"LANSING — The early financial warning legislation signed into law by Gov. Rick Snyder Tuesday will affect 171 school districts and charter schools across the state of Michigan."

We knew Whitmore Lake was on the list.  What surprises is finding the Saline and Ann Arbor Public School Systems listed.  According to MLive's Kyle Feldscher,

"The Bills:
  • Require school districts, intermediate school districts and charter schools with reserve funds of less than 5 percent of their general fund budget to send their budgetary assumptions to the state.
  • Change the financial authority in charge of districts with deficit elimination plans from the state superintendent to the state treasurer.
  • Require districts going into deficit to tell the treasurer and state superintendent, send an amended budget to the state and intermediate school district, allow the Michigan Department of Education to withhold state school aid payments and allow the state superintendent to require deficit elimination plans to have an academic plan.
  • Create enhanced deficit elimination plans that would include assistance and guidance from treasury and other state departments, a financial operating plan, appointment of local auditor or inspector and a timeline for deficit elimination set out by the treasurer.
  • Require, by March 1 every year, that the treasurer must prepare a report of districts, ISDs and charter schools that have enhanced deficit elimination plans and their progress on them.
  • Allow the Treasury to withhold a portion or all of state school aid to entities with enhanced deficit elimination plans until a district submits their plan.
  • Allow the treasurer to declare a financial emergency and recommend the governor appoint a financial manager.
  • Allow school districts to choose between working with their intermediate school district to fix their financial problems or to work with the state.

Breakdown of General Fund balances vs revenues for the 171 school districts (11 in Washtenaw County) affected by the new law.

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