General Fund
School Aid Fund
In addition to FY 2023 and FY 2024 forecasts, initial revenue estimates for FY 2025 were released.
? ?Our economy continues to thrive and revenues for our current fiscal year have once again exceeded expectations,? State Treasurer Rachael Eubanks said. ?Although the last couple of years have provided an extraordinary revenue picture, we must be thoughtful and deliberative about our policy choices due the uncertainty on the horizon.? These revenue estimates are based on the most recent economic projections and forecasting models. As with any economic and revenue forecast, there are potential risks to the estimates agreed to today, including further pandemic issues, unexpected changes in the national economy, and international economic issues. ?Today?s conference illustrates why the consensus is a pivotal part of the State?s budget process,? said State Budget Director Christopher Harkins. ?I remain optimistic about the strength of Michigan?s economy and these consensus numbers suggest continued growth in revenues over the next several years. The nature of this forecast also reminds us that revenues may fluctuate, and it remains important that we continue to ensure that any available one-time revenues be used for one-time investments to grow and build Michigan.? FY 2023 spans from Oct. 1, 2022, to Sept. 30, 2023, while FY 2024 spans from Oct. 1, 2023, to Sept. 30, 2024. FY 2025 begins on Oct. 1, 2024. The January Consensus Revenue Estimating Conference?s detailed forecast ? as well as presentations from today?s session ? can be found at?Senate Fiscal Agency website. # # # |
This service is provided to you at no charge by the Michigan Department of Treasury.
Lansing, Michigan 48922 | 517-335-7508 | Contact Us
?Having trouble viewing this email? View it as a Web page.
Manage your Subscriptions or Unsubscribe
?
| This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Michigan Department of Treasury ? Lansing, MI 48922 ? 517-335-7508 |