The challenge
Detroit Public Schools (DPS) engaged Plante Moran Cresa (PMC) to establish processes and procedures and provide compliance oversight for the ARRA portion of a $500.5 million bond program. Approximately $297 million in funds comprised Build America Bonds and Qualified School Construction Bonds (QSCBs).
The solution
PMC worked with the program manager, design, and construction team to review regulations for the different funding sources to establish a process for the program. The project took advantage of historic stimulus bond financing under the American Recovery and Reinvestment Act of 2009 (ARRA).
The benefit
PMC reviewed the design documents for compliance with ARRA requirements. Our team also audited contractor and subcontractor invoices to ensure ARRA requirements were met.