In adopting its budget for the fiscal year that began October 1, 2011, the State of Michigan eliminated statutory revenue sharing and replaced a portion of the funds formerly received by the City with a new program. This new program, the Economic Vitality Incentive Program, establishes certain criteria that the City must meet in order to qualify to receive a portion of its State funding.
One element of the Economic Vitality Incentive Program is a requirement that the City provide a citizens’ guide to its financial condition. This guide is intended to summarize key trends in a way that is easy for the typical citizen to understand. The City of Charlotte’s Citizens’ Guide to City Finances can be found here.
The City also makes additional information about its financial condition, such as budgets and audits, available here.