[PUBLIC COMMENT REQUESTED] Numbered Letter 2025-3 and Revised Numbered Letters 2016-1 and 2021-1

August 21, 2025

Intended Audience: Local government employees including but not limited to, clerks, treasurers, elected officials, finance directors, city, township, or village managers, accounting staff. Additionally, bond counsel, municipal advisors, certified public accountants, municipal organizations, state agencies, and auditing or actuarial professionals.

Draft Date: August 21, 2025

The Local Audit and Finance Division is currently soliciting public comment on Numbered Letter 2025-3, which provides guidance and information around dollar limits for professional training and education expenditures for retirement system governing body board members found in Section 13 (6) of the Public Employee Retirement System Investment Act, Act 314 of 1965.

Additionally, Revised Numbered Letter 2016-1, providing guidance around deficit elimination plan requirements and Revised Numbered Letter 2021-1, providing guidance on post-issuance debt review process, are being issued for public comment following revisions made to provide additional clarity, improve user experience, and to create internal efficiencies.

Numbered Letter 2025-3

Any individual or organization that would like to submit comments should provide those comments in writing by September 22, 2025.

Comments may be submitted by email to LocalRetirementReporting@michigan.gov with the subject line entitled, “Numbered Letter 2025-3 Compliance with Dollar Limits for Public Employee Retirement System Board Member Professional Training and Education Expenditures under Public Act 314 of 1965".

You can find the selected Numbered Letter Exposure Draft for Public Comment below:

Revised Numbered Letter 2016-1

The Glenn Steil State Revenue Sharing Act of 1971, 1971 Public Act (PA) 140, Section 21(2), states that units of local government (local units) who end their fiscal year in a deficit condition shall formulate a deficit elimination plan (plan). Revised Numbered Letter 2016-1 provides guidance around this process.

Any individual or organization that would like to submit comments should provide those comments in writing by September 22, 2025.

Comments may be submitted by email to Treas_MunicipalFinance@michigan.gov with the subject line entitled, “Revised Numbered Letter 2016-1 Deficit Elimination Plans".

You can find the selected Numbered Letter Exposure Draft for Public Comment below:

Revised Numbered Letter 2021-1

Numbered Letter 2021-1 revision creates a single source of information by incorporating Bulletin 3 (last revised 2003) and also provides clarification about Treasury’s post-issuance debt review process.

Any individual or organization that would like to submit comments should provide those comments in writing by September 22, 2025.

Comments may be submitted by email to Treas_MunicipalFinance@michigan.gov with the subject line entitled, “Revised Numbered Letter 2021-1 Security Reports".

You can find the selected Numbered Letter Exposure Draft for Public Comment below:

Any individual or organization that would like to submit comments for either Numbered Letter 2025-3 or Revised Numbered Letters 2016-1 or 2021-1 should provide those comments in writing by September 22, 2025.

As a reminder, please submit comments for Numbered Letter 2025-3 to LocalRetirementReporting@michigan.gov and submit comments for Revised Numbered Letters 2016-1 or 2021-1 to Treas_MunicipalFinance@michigan.gov