LANSING - The Michigan Strategic Fund's internal control over financial reporting did not ensure it properly recorded and reported investment impairment losses, the auditor general concluded in reviewing the MSF's basic financial statements through the last fiscal year. As a result, MSF overstated its investments and net increase (decrease) in fair value of investments by
LANSING - Michigan was among 20 states given a B for their online budget and spending transparency by the U.S. Public Interest Research Group Education Fund. Budget transparency has been a big issue for Gov. Snyder. Among the 50 states, Michigan ranked 15th with 86.5 points. Indiana was the top state with 94 points. Wisconsin,
LANSING - Michigan already spends more on schools than most of the rest of the nation, but it spends less than the top achieving state, the State Board of Education heard in separate presentations Tuesday. Among other measures, Michigan ranks ninth in education spending as a portion of per capita income, Audrey Spaulding, education advisor
LANSING - Democratic U.S. Senate Candidate Gary Peters is now favored by registered Michigan voters by 5 percentage points, a new poll released Tuesday by Public Policy Polling showed. The latest poll on the Michigan race to succeed outgoing U.S. Sen. Carl Levin (D-Detroit) shows Peters (D-Bloomfield Township), a U.S. House member, has taken the
LANSING - If Michigan wants to stop its slide in educational performance, it needs to be sure schools are using research-based education programs and it needs to provide the funds to fully implement those programs, the Education Trust-Midwest said in a report released Thursday. The report, Stalled to Soaring: Michigan's Path to Educational Recovery, put
LANSING - Bills that would reduce taxes paid by companies that use an enhanced method of extracting oil were signed by Lt. Governor Brian Calley on Tuesday. Calley signed HB 4885 , now Public Act 82 of 2014, and HB 5254 , HB 5255 and HB 5274 , now Public Acts 83, 84 and 85
LANSING - Retail sales in Michigan showed a slight improvement, officials with the Michigan Retailers Association said Wednesday. James Hallan, president of the association, said even with the increase retail sales are still struggling in Michigan because of the severe winter weather. The association said 42 percent of retailers reported increased sales during February while
LANSING ? The Michigan Strategic Fund is investing more than a half-million dollars in Short's Brewing Company in Bellaire, and in metal-stamper Proos of Grand Rapids that is expected to leverage about $6.3 million in private investment. Proos is a family-owned and operated ISO certified manufacturer that creates sophisticated metal stamping products, welded assemblies, sheet
LANSING - Some local governments would not receive full reimbursement from the revenues lost as a result of phasing out portions of the personal property tax under legislation pending in the Michigan House, but the chair of the House Tax Policy Committee said Monday he anticipates fixing the problem without difficulty. When the bills flew
LANSING - House Speaker Jase Bolger said Wednesday both tax relief and road funding can be priorities with a $1 billion surplus. "When you're dealing with $1 billion, what it comes down to is balancing those priorities," Bolger (R-Marshall) said. "I think we need to fix our roads. I want to see us continue to