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Monitoring local government fiscal health: Michigan's new 10 point scale of fiscal distress.
Government Finance Review
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June 01, 2003 |
Kleine, Robert; Kloha, Philip; Weissert, Carol S. |
COPYRIGHT 2003 Government Finance Officers Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
In difficult economic times, state and local governments become increasingly cognizant of balancing their budgets and avoiding fiscal difficulties. Yet it is often difficult for states to assess the fiscal conditions of their localities and, more importantly, to recognize local difficulties before they become severe. While nearly a third of states report using indicators to monitor the fiscal health of their local governments, a number of these states report some level of dissatisfaction with their performance. (1) One of the states that uses indicators but is seeking to improve them is Michigan.
Michigan has two laws (Public Act 70 of 1990 and Public Act 34 of ...
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