Mun. Stability Bd Corrective Action Plan Monitoring
The Protecting Local Government Retirement and Benefits Act (PA 202 of 2017) requires the Municipal Stability Board (the Board) to develop best practices, approve of corrective action plans, and to monitor those plans. At their June 17, 2020 meeting, the Board proposed changes to the Corrective Action Plan Monitoring (CAP): Policies and Procedures document and are seeking public comment. The proposed revisions are technical changes to the review process timelines outlined in the document. These proposed changes will provide flexibility to the Board in their review of CAP monitoring certifications. These proposed changes allow the Board to limit the number of local governments to be reviewed in a month, enabling added focus and support to be given to each local government during their CAP monitoring certification review. Please provide comment on these changes to the Board at Treas-MunicipalStabilityBoard@michigan.gov by July 22, 2020.
You may review the Board packet and agenda from the June 17, 2020 for further detail regarding these proposed changes, as well other Board documents at www.Michigan.gov/MSB.
Additionally, the Department of Treasury has developed a webpage with numbered letters, memorandums, and resources regarding COVID-19 updates for local governments and school districts. This webpage was created to ensure that communities have access to the most up-to-date guidance and is updated frequently with information and resources as they become available. The link to the COVID-19 updates for Local Governments and School Districts is available at: https://www.michigan.gov/treasury/0,4679,7-121-1751_98769---,00.html.