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Category Archives: Municipal Finance

November 18, 2021

Treasury Announces 2022 Inflation Rate Multiplier

The State Tax Commission announced the 2022 inflation rate multiplier to be used in the capped value formula and for the Headlee Millage Reduction Fraction formula.  For the coming year, that inflation value is set at 3.3%.  This is the…
September 1, 2021

New Info Coming From MI Treasury on ARP Dollars for NEUs

The Michigan Department of Treasury recently provided an update to League staff on their continuing efforts to distribute the $322 million, first-year tranche of American Rescue Plan dollars designated for Michigan municipalities that are designated as Non-Entitlement Units.  These dollars…
July 2, 2021

Legislature Breaks Without Finishing GF Budget

The Legislature recessed for at least two weeks earlier this week without finalizing a General Fund budget and without allocating any of their remaining GF fund balance or available American Rescue Plan Act funds.  A school aid budget was completed…
June 9, 2021

Webinar on Federal Stimulus Scheduled for June 17

The Michigan Department of Treasury released the following agenda and registration details for their first webinar on the American Rescue Plan Act, aimed at offering the Department's initial guidance for implementing the ARP's Coronavirus Local Fiscal Recovery Funds. This webinar…
May 25, 2021

New ARP Guidance for “Non-Entitlement Units” Released

Monday evening, the US Treasury released guidance specifically related to the majority of Michigan communities that will receive American Rescue Plan Act funding on a per capita basis. For Michigan, these Non-Entitlement Units (NEUs), are scheduled to receive more than…
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