State Treasurer, Fiscal Agency Directors to Establish State Revenue Forecasts




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*FOR IMMEDIATE RELEASE
**December 9, 2024*

*Contact: Ron Leix <[email protected]>, Treasury, 517-335-2167*

Date Set for January Consensus Revenue Estimating Conference

"State Treasurer, Fiscal Agency Directors to Establish State Revenue Forecasts "

LANSING, Mich. – State Treasurer Rachael Eubanks today announced that the January Consensus Revenue Estimating Conference (CREC) will be held on Friday, Jan. 10, 2025, in the House Appropriations Committee Room on the third floor of the Michigan State Capitol.

The conference will begin at 9 a.m. with presentations focusing on the U.S. and Michigan economies and state government revenues. Official revenue forecasts for remainder of Fiscal Year 2025, the upcoming 2026 fiscal year and the initial forecast for the 2027 fiscal year will be established at the conference.

“The Consensus Revenue Estimating Conference is held at least twice a year in January and May,” State Treasurer Eubanks said. “The January conference begins the state of Michigan’s annual budget process, with the revenue forecast adopted becoming the starting point for the Governor's executive budget. The May conference provides an update to the forecast before the state budget is finalized.”

Official forecasts will be established by a consensus of the conference principals, consisting of the State Treasurer or State Budget Director, the Director of the Senate Fiscal Agency and the Director of the House Fiscal Agency.

For 2025, the State Treasurer will be chairing both the January and May conferences. The chair role rotates among the principals annually.

To learn more about the CREC, go to www.michigan.gov/crec [ [link removed] ].

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