michigan general fund budget

Looking up into the rotunda of the Michigan Capitol.
user cedarbenddrive/Flickr / http://j.mp/1SPGCl0

Michigan's tax revenue projections have changed little since eight months ago, meaning Gov. Rick Snyder and lawmakers are seeing no big surprises as they prepare to work on the next state budget.

The Snyder administration and legislative economists agreed to revised numbers Thursday. Combined revenue in the $23 billion school aid and general funds is just $13.1 million more than previously estimated for the current fiscal year and $16.4 million lower than past estimates for the next budget year.

Steve Carmody

A new report says Michigan is collecting more in tax revenues than previous guessed.

The state House Fiscal Agency reports that revenues in the General Fund and School Aid Fund are running nearly 200 million dollars higher than previously estimated for this fiscal year.

The agency predicts revenues will also be slightly higher in the next fiscal year.

“General Fund revenues are fluctuating more than school aid. It does appear at this time that there may be more money in school aid,” says Ari Adler, the spokesman for House Speaker Jase Bolger.   “But again, these are revenue estimates. We’ll know more on Wednesday when they have the final Revenue Estimating conference for this year. And we can get a better handle on how much money we’re expected to have.”

Adler says legislative leaders hope to pass a budget for next year by the end of the month. The next fiscal year begins October 1st.