Submitting report relative to Detroit VEBA’s FY 2015 Audit Reports. (As noted in the Legislative Policy Division’s report on the Voluntary Employee Beneficiary Association, the audit confirmed that the market value of the bonds issued by the City to the VEBAs were approximately 45% of their face (par) value. This was not sufficient to provide the retirees with the minimal benefits that were promised to them per the Plan of Adjustment.) (REFERRED TO THE BUDGET, FINANCE AND AUDIT STANDING COMMITTEE ON 9-7-16)

Committee

Budget, Finance and Audit Standing Committee

Introduced

October 24, 2016

On agenda

September 7, 2016

Watch Detroit

Say what matters to you — a street, a company, a subject — and we will email you when Detroit files something about it.

Watch this

Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.