MI SB0113

Requires emergency financial managers for school districts to develop a written financial plan in consultation with the school board that operates within available resources and ensures full payment of debt service and legal obligations.

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

Requires the intermediate school district to provide technical assistance and expertise, and mandates approval of the improvement plan by the school district board, intermediate school district 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.

Makes the financial plan and quarterly progress reports public, though the emergency financial manager does not need public approval before implementing the plan or modifications.