In today’s consensus revenue estimating conference, state officials including the House and Senate Fiscal Agencies and the Department of Treasury, estimated a $970 million budget surplus over the next three years.
For Fiscal Year (FY) 2013, there is an established $374 million surplus in the general fund (GF) and $56 million in the school aid fund (SAF) for a total of $430 million of actual surplus.
The FY 2014 estimates are $126 million in GF and $90 million in SAF higher than the budget estimates from May of 2013.
The FY 2015 estimates are $206 million in GF and $119 million in SAF higher than the budget estimates from May of 2013.
League President Jackie Noonan issued a statement calling for lawmakers to reinvest in communities after a decade of using revenue sharing dollars to fill state budget holes.
Samantha Harkins is the Director of State Affairs for the Michigan Municipal League. She can be reached at 517-908-0306 or email at [email protected]