Additional Revenue Coming to MI

The Michigan House Fiscal Agency is projecting $1.1 billion in additional revenue for the state through 2016. The HFA estimates show the state ending Fiscal Year 2013 with about $373 million more in the General Fund and more than $56 million more in the School Aid Fund. It projects $154 million in the General Fund and a little over $108 million in the School Aid Fund for the current Fiscal year 2014. It estimates just under $297 million in the General Fund and $136 million in the School Aid Fund for Fiscal Year 2015. Friday is the Consensus Revenue Estimating Conference which will come up with a consensus revenue number that Governor Rick Snyder will use in presenting his proposed Fiscal Year 2015 budget in February.