Latest Extension FAQ covers key terms, concepts found in Detroit consent agreement
Understanding the terms used throughout the consent agreement helps clarify roles, responsibilities and accountability of all involved.
April 20, 2012 - Author: James Ribbron , Michigan State University Extension
The City of Detroit has entered into a consent decree agreement with the State of Michigan to address the city's current fiscal imbalances. How the city managed to get to this point, the structure of the agreement and many terms used in the agreement are new to many Michigan residents. In order to create success all parties; citizens, policymakers, media and etc., should have a basic understanding of the terms within the agreement.
Michigan State University Extension has created a new Frequently Asked Questions (FAQ) bulletin, The City of Detroit’s New Revenue Forecasting Process and Multi-Year Budget, to provide people and organizations with information on the important terms used in the consent agreement.
Understanding these terms helps to clarify roles, responsibilities and accountability of all involved. The latest FAQ bulletin answers questions related to the implementation of the agreement so people are better able to continue to formulate an informed opinion about solutions to Detroit's fiscal issues.
Click the link to download The City of Detroit’s New Revenue Forecasting Process and Multi-Year Budget.
The first FAQ, A Proposed City of Detroit Consent Agreement and Public Act 4 0f 2011, covered the legality of the agreement and its main features before it was finalized.
The second FAQ, City of Detroit Financial Stability Agreement, explored Public Act 4 and the actions available to stabilize Detroit and get the city back on track to financial sustainability.