What values will guide these EFM's as they work to balance the budgets? How will a manager decide whether to sell of an ice rink or a library? Well we are soon going to find out after the Michigan State Senate passed a bill to give more power to Governor Snyders Emergency Financial Mamagers.
State officials estimate that dozens of local governments and school districts will soon be unable to pay their bills and the Treasury dept. is on record supporting a bill — passed by the House last week — which would recast Emergency Financial Managers as Emergency Managers and give them unprecedented new power to fire elected officials, dissolve labor contracts and reorganize or dissolve cities and school districts.
See the list of powers given to EFM's here.
The Governor definitely has a tough job trying to balance Michigan's budget, but are EFM's the only way to go?