Seven Michigan communities have been placed in state receivership since 2000. This rescue supersedes local control and strips officials of financial authority and sometimes their salaries. Local government officials should know that Department of Treasury officials are less likely to… Continue Reading  

Local governments and school districts in Michigan could use corporate-style discipline as they tackle some of the same fiscal challenges confronting businesses. Fluctuating revenues, climbing benefit costs and aging infrastructure strain public and private sector budgets alike. Reductions in state… Continue Reading  

In Till v. SCS Credit Corp, 541 U.S. 465 (2004), the Supreme Court of the United States blessed us with a formula to determine the appropriate interest rate a lender should receive on a secured car loan claim in a… Continue Reading  

A financial turnaround advisor plays an important role in any legal planning for naming an Emergency Financial Manager (EFM), avoiding an EFM, or in the worst case preparing for a potential Chapter 9 filing. A third party turnaround advisor specializes… Continue Reading  

Excerpt from June 2011 Newsletter A Message from Mike Boudreau CPA, CTP, CFF June 2011 – Municipalities and School Districts/Emergency Manager Many municipalities and school districts are facing the same viability issues the private sector has been experiencing since 2008…. Continue Reading