Michigan Department of Treasury http://michiganradio.org en State leaders question oversight role when charter companies run entire school districts http://michiganradio.org/post/state-leaders-question-oversight-role-when-charter-companies-run-entire-school-districts <p>State Superintendent Mike Flanagan says the consequences of turning&nbsp;entire school districts over to for-profit charter school companies deserves more consideration from state lawmakers.</p><p>Flanagan told a state panel last week it’s not clear if the <a href="http://michiganradio.org/term/muskegon-heights-school-district">Muskegon Heights school district</a>, or the for-profit charter company that ran it the last two years, will face any consequences for running up a deficit big enough to require an emergency loan worth $1.4 million and two cash advances to keep schools open through June. It’s unclear exactly what the deficit is for the 2013-2014 school year.</p><p>The Muskegon Heights school district is now looking for a new operator. That’s after the district and its emergency manager <a href="http://michiganradio.org/post/muskegon-heights-ends-contract-charter-school-company">agreed to end its contract with Mosaica Education Inc.</a> when the <a href="http://michiganradio.org/post/charter-school-ceo-says-muskegon-heights-schools-owes-company-2-million">company couldn’t turn a profit.</a></p><p>“Now that (Mosaica) is leaving, they pretty much told us they’re not going to do (the district’s) deficit elimination plan. To follow up on that, we should wait for the new management company and deal with them,” Dan Hanrahan, Michigan Department of Education’s director of state aid and school finance, told the panel. Mon, 09 Jun 2014 14:34:45 +0000 Lindsey Smith 17910 at http://michiganradio.org State leaders question oversight role when charter companies run entire school districts Michigan is running out of money to lend to schools in financial distress http://michiganradio.org/post/michigan-running-out-money-lend-schools-financial-distress <p><a href="http://www.legislature.mi.gov/(S(aj5hpaqgiq3t3d45opcngajw))/documents/mcl/pdf/mcl-Act-243-of-1980.pdf">State law gives a special board up to $50 million</a> to loan to schools in financial distress. The long-term, low-interest loans are supposed to help school districts restructure and pay down their debt.</p><p>But it appears $50 million isn’t going to be enough.</p><p>With the loans the Emergency Loan Board issued Monday, it's nearly reached that cap, four years ahead of schedule. Treasury Spokesman Terry Stanton says the board has issued $48.5 million to schools so far.</p> Mon, 28 Apr 2014 22:17:15 +0000 Lindsey Smith 17388 at http://michiganradio.org Michigan is running out of money to lend to schools in financial distress Officials confident Muskegon Heights schools will meet payroll, but no solution yet http://michiganradio.org/post/officials-confident-muskegon-heights-schools-will-meet-payroll-no-solution-yet <p>State officials and the Muskegon Heights School&nbsp;Board are trying to figure out how they’ll be able to pay staff for the rest of this school year, although the district’s emergency manager is “confident” they’ll work something out.</p> Mon, 07 Apr 2014 10:00:00 +0000 Lindsey Smith 17118 at http://michiganradio.org Officials confident Muskegon Heights schools will meet payroll, but no solution yet Why is Michigan’s former state treasurer collecting a salary after his resignation? http://michiganradio.org/post/why-michigan-s-former-state-treasurer-collecting-salary-after-his-resignation <p></p><p>More than two months ago, former State Treasurer Andy Dillon resigned, clouded in controversy.</p><p>Today, word leaked out that Dillon is still on the state payroll – and has been since November 1 –&nbsp;still pulling down his full salary of $174,204 for training his successor, Kevin Clinton.</p><p>Zoe Clark, co-host of Michigan Radio's <em>It's Just Politics</em> joins us to talk about the controversy, along with Lester Graham of <em>Michigan Watch</em>.</p><p><em>Listen to the full interview above.</em></p><p> Wed, 08 Jan 2014 21:00:00 +0000 Stateside Staff 15938 at http://michiganradio.org Why is Michigan’s former state treasurer collecting a salary after his resignation? Detroit's bankruptcy case being watched by other financially troubled Michigan cities and schools http://michiganradio.org/post/detroits-bankruptcy-case-being-watched-other-financially-troubled-michigan-cities-and-schools <p><a href="http://www.michigan.gov/treasury/0,4679,7-121-1751_51556_64472-201116--,00.html">Cities across Michigan </a>are closely watching what happens to Detroit in bankruptcy court this week.</p><p>More than a dozen Michigan cities and school districts are currently under some form of state oversight.</p> Tue, 03 Dec 2013 11:59:00 +0000 Steve Carmody 15506 at http://michiganradio.org Detroit's bankruptcy case being watched by other financially troubled Michigan cities and schools New Michigan treasurer has background in insurance industry http://michiganradio.org/post/new-michigan-treasurer-has-background-insurance-industry <p>Gov. Rick Snyder says Insurance and Financial Services (DIFS) Director Kevin Clinton will succeed departing Treasurer Andy Dillon next month.</p><p><span style="line-height: 1.5;">Kevin Clinton will play an important role in the state&rsquo;s financial intervention in struggling cities and schools. He admits he&rsquo;ll have a lot of catching up to do when it comes to Detroit&rsquo;s historic bankruptcy filing.</span></p> Tue, 15 Oct 2013 17:27:04 +0000 Lindsey Smith 14847 at http://michiganradio.org New Michigan treasurer has background in insurance industry In this morning's news: Term limits, road repairs, and a class action lawsuit http://michiganradio.org/post/mornings-news-term-limits-road-repairs-and-class-action-lawsuit <p><strong>A push for change in Michigan term limits</strong></p><p>There are efforts underway to change Michigan’s term limits amendment. Representative Joe Havemen (R-Holland) says the current lifetime limit of six years to serve in the House and eight years in the Senate are too short and consequently, legislators are lacking experience. Term limits were approved by Michigan voters ten years ago, and changing that amendment would also require voter approval.</p><p><strong>Town hall to be held for road repairs</strong></p><p>Lawmakers are expected to discuss how to pay for improvements to the state’s roadways at a town hall meeting tonight in Grand Rapids. Michigan Radio’s Lindsey Smith reports, "the public will get a chance to weigh in on Governor Snyder’s proposal to raise more than a billion dollars a year. Snyder wants to raise vehicle registration fees and the gas tax to cover the costs, but the Legislature passed a budget last week that only included a fraction of the money he wanted."</p><p><strong>Michigan faces class action lawsuit from students</strong></p><p>The state of Michigan may be facing a class action lawsuit over a student loan program. Starting in 2003 the Michigan Students First program provided a subsidy to people after they paid their first 36 loan payments on time, but that subsidy ended in 2010. Attorney Jeff Hank says that left thousands of Michiganders with much more to pay on their student loans. Michigan Radio's Steve Carmody <a href="http://www.michiganradio.org/post/michigan-facing-lawsuit-over-student-loan-program">reports</a> that the lawsuit could end up costing the state hundreds of millions of dollars.</p><p> Mon, 10 Jun 2013 11:44:02 +0000 Michigan Radio Newsroom 12963 at http://michiganradio.org In this morning's news: Term limits, road repairs, and a class action lawsuit