MI HB4330

Authorizes the state to withhold school aid payments from districts or intermediate districts to pay defaulted obligations or other financial obligations, including debts under the revised school code or emergency financial management programs.

Establishes a statutory lien and trust on state school aid pledged to the Michigan Finance Authority for repayment of obligations, giving priority to debt service over other district claims and creditors.

Requires districts to publish annual budgets, expenditure summaries in pie charts, and detailed information on collective bargaining agreements, health benefits, audit reports, employee salaries over $100,000, credit cards, and out-of-state travel costs on their websites within 15 days of budget adoption.

Mandates annual financial and pupil accounting audits by certified public accountants, with small stable districts eligible for biennial pupil audits; requires filing of audit reports and special education and transportation expenditure reports by specified deadlines or face withholding of state aid.

Requires districts offering online learning to report per-pupil costs by vendor type by November 1, 2015, and directs the department to submit a summary report to legislative appropriations committees by March 31, 2016.