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Michigan officials have differing outlooks for fiscal year 2014

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January 12, 2013

Michigan

By Zac Humphrey

LANSING, Michigan: Revenue projections for the coming year vary widely in the Michigan state government. With more than $1 billion left over from fiscal year 2012, Michigan state officials see the 2013 budget remaining stable, but there is a bit of uncertainty with respect to fiscal year 2014. The economy is expected to continue improving but the pace at which it does so could be slower than expected. Michigan's general fund and the school aid fund are the two main budgets in the state.[1]

There are differing projections that have been released by the Michigan Senate Fiscal Agency and the Michigan House Fiscal Agency. The senate report is more conservative and highlights potential shortfalls in the school aid budget. The state is projected to bring in $19.8 billion in this fiscal year, which is down $372 million from earlier projections.[2] No projection has yet been be released by Gov. Rick Snyder's administration.[1]

Lawmakers and Synder will use these projections to create their plan of action for the coming year.[1]

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References


{{Category:State legislative news, 2013]]