House Approves ‘Early-Warning’ System For School Finances

LANSING, MI (AP) – Some schools would be required to submit more financial reports to the state under a package approved by the Republican-controlled House.

The eight-bill package approved Thursday in the House would require financial reporting from some schools at the beginning of each fiscal year in addition to the current reporting at the end of each fiscal year. Sponsors say the package is aimed at identifying potential financial stress.

It would also increase the cap on loans available to schools from $50 million to $100 million.

Minority Democrats opposing most of the bills say they just highlight financial problems schools have rather than offering solutions to those problems.

The bills now go to the Senate for consideration.

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