News and Updates

Today's News and Updates

Governor signs legislation PA 339

Last week on October 9, the Governor signed the legislation to allow issuance of taxable GO bonds for pension and OPEB liabilities.

AN ACT to amend 2001 PA 34, entitled “An act relative to the borrowing of money and the issuance of certain debt and securities; to provide for tax levies and sinking funds; to prescribe powers and duties of certain departments, state agencies, officials, and employees; to impose certain duties, requirements, and filing fees upon political subdivisions of this state; to authorize the issuance of certain debt and securities; to prescribe penalties; and to repeal acts and parts of acts,” by amending sections 103, 305, and 503 (MCL 141.2103, 141.2305, and 141.2503) and by adding section 518.

The People of the State of Michigan enact:

Click to read the complete legislation

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Personal Property Tax Update

Click here for the update.

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State Treasury FAQ on PA 152

Click here for the document.

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MGFOA Whitepaper PPT Elimination

Access the whitepaper.

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MI Department of Treasury Deficit Elimination Plan Requirements

Click here for the document.

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Dashboard and Citizen Guide templates at Dept of Treasury

Follow this LINK.

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MML EVIP Synopsis of Requirements and Deadlines

Click HERE for the document

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Michigan Department of Treasury and EVIP Administration

Follow this LINK.

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FREE: State of Michigan's Local Government Records Management training is now available online

Follow this link.

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Citizen's Research Council Report on the 2011 Emergency Manager Act (PA 4)

Full Report

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Debt Stress Benchmark Rating Model

Please click here to download the worksheet.

Once completed, please send your results to Nickie Bateson, CPA at the email address on the form.

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What's New?

News briefs, job postings, and position papers to inform members and non-members alike of activities outside of the MGFOA.

Executive Director
Jack Sato Smith
executive@MiGFOA.org

Committee Highlights

  • Legislative Committee

    Chair - John Ogden, City of Port Huron
    Monitoring 2011-2012 introduced legislation and 2012-13 proposed legislation. Form subcommittees when appropriate to address specific issues including most recently personal property taxation and pension sustainability.

  • Mentoring & Membership Committee

    Chair - Tim Haney, City of St. Clair Shores
    Continuing to evaluate active and expiring memberships.

  • Professional Development Committee

    Chair - Tom Colis, Miller Canfield Paddock & Stone PLC
    Working on training sessions for 2013 including a new Introduction to Public Finance class for new MGFOA members and those new to government finance.

  • Accounting Standards Committee

    Chair - Joe Heffernan, Plante & Moran PLLC
    Monitoring all GASB exposure drafts: Recently this includes discussions and responses on Pension Reporting (amending GASB 25 & 27);  Reporting of Items Previously Recognized as Assets and Liabilities and reviewing the GASB Proposal: Financial Projections for Assessing Economic Condition of Governments.

  • Strategic Planning Committee

    Chair - Mike O'Connell, Wayne Co. Dept. of Management & Budget
    Refining MGFOA's role in long-term leadership issues, both internally and externally.

  • Technology Resource Committee

    Chair - Mark Warner, Plante & Moran PLLC
    Implementing plans to increase member awareness of and better leverage website forums.