Insider Intelligence

State revenue collections in July were up across the board from the prior year, continuing the upward trend in higher revenue. General Fund-General Purpose (GF-GP) collections came in at $95.8 million during the month, an increase of 7.9% from July 2021. Likewise, collections earmarked for the School Aid Fund (SAF) totaled $134.1 million, which was […]

While revenue last month came in lower than the prior year, it was higher than estimated at the May 2021 Consensus Revenue Estimating Conference (CREC). Total cash collections from major taxes, penalties and interest, and lottery transfers totaled $2,546.1 million in July 2021, which was $866.1 million lower than July 2020. Highlights from the July […]

Last month’s tax collection revenue earmarked for the General Fund (GF) and the School Aid Fund (SAF) totaled $1.0 billion, an increase of 7.9% over the February 2017 amount. Additionally, the collections were $92.9 million higher than estimated; with the GF revenue at $74.5 million more and the SAF collections at $17.6 million more than […]

Yesterday, 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, and the State Budget Director.  They heard testimony from the Research Seminar in Quantitative Economics (RSQE), IHS Global Insight, and analysts […]