Insider Intelligence

Today, before a joint session of the House and Senate Appropriations Committees, Governor Rick Snyder, Lt. Governor Brian Calley, and incoming State Budget Director John Walsh presented the executive budget recommendations for the upcoming fiscal year. While the overall budget growth over the current fiscal year is only 0.6%, the Governor announced new initiatives and […]

Late last Friday afternoon it was announced that State Budget Director Al Pscholka is resigning, effecting February 28. Serving as his replacement will be the Governor’s Director of Strategy, John Walsh. “John will have big shoes to fill when he takes over Al’s role as budget director. But from our long relationship with John when […]

Today, the biannual Consensus Revenue Estimating Conference was held in Lansing. The conference included members of the House and Senate Appropriations Committees, the directors of the House and Senate Fiscal Agencies, the State Treasurer, Nick Khouri, and the State Budget Director, Al Pscholka.  After hearing testimony from the Research Seminar on Quantitative Economics at the […]

The purpose of the Consensus Revenue Estimating Conference (CREC) is to make the best educated estimates on how much revenue the state can anticipate, based on various economic factors.  Every year, the Research Seminar on Quantitative Economics at the University of Michigan presents on their projected economic data, in addition to another industry leader. Biannually, […]

This week, the non-partisan House Fiscal Agency released revenue data for October 2017. Last month, total cash collections were $74.2 million more than October 2016, coming in at $2,924.4 million.  Below are additional highlights from the report: Net income tax revenue – $799 million in revenue last month Net Business taxes – On a fiscal […]

On Thursday, Governor Rick Snyder signed legislation providing over $50 million in supplemental funding to numerous programs. The bill increases funding for various departments and agencies including a uniform statewide sexual assault evidence kit tracking system, opioid addiction response programs, as well as reimbursing the costs incurred by National Guard deployments to aid in hurricane […]

Last Friday afternoon, Governor Rick Snyder signed the budgets appropriating funds for the 2017-2018 Fiscal Year, beginning on October 1.  The total investment plan for the state, including federal funding, totals $56.5 billion.  Highlights of the budget include: $115.5 million for business attraction Increased foundation allowance in K-12 schools of $60-$120 per pupil A 2% […]

This week, the House and Senate gave their approval for the two omnibus budgets providing appropriations for the upcoming 2017-2018 Fiscal Year.  Over the past few weeks there have been questions if the budgets would be completed prior to the end of June, but ultimately the legislature was successful in meeting their self-imposed deadline of […]