MI HB6295

Requires emergency financial managers to develop written financial plans for school districts in consultation with school boards, ensuring operations stay within available resources and debt service obligations are met.

Mandates that financial plans developed or amended after the effective date include a school district improvement plan with a budget for implementation, developed by the school board with input from teachers and the superintendent.

Requires the intermediate school district to provide technical assistance and expertise, and mandates approval of the improvement plan by the school board, intermediate board, and emergency financial manager before inclusion in the financial plan.

Directs the emergency financial manager to submit quarterly progress reports to the education financial emergency resolution board detailing implementation status of all aspects of the financial plan, including the school improvement plan.

Requires the emergency financial manager to make public the financial plan and quarterly progress reports, though public approval is not required before implementation.