MI SB1426

Amends the Local Government Fiscal Responsibility Act to require emergency financial managers to include a school district improvement plan and implementation budget in written financial plans for school districts under their oversight.

School district boards must develop the improvement plan and proposed budget with input from local teacher bargaining units and the superintendent, with technical assistance provided by intermediate school districts.

School district improvement plans and budgets require approval from the school district board, intermediate school district board, and emergency financial manager before inclusion in the written financial plan.

Emergency financial managers must 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.

Emergency financial managers must make the financial plan and quarterly progress reports public, though public approval is not required before implementing the plan or modifications.