Michigan’s total revenue last month came in 9.6% below the February 2022 collections at $1.6 billion. Additionally, the February 2023 tax collections were $100.1 million below the projections adopted at January’s Consensus Revenue Estimating Conference. General Fund dedicated collections were $99 million below estimates, while School Aid Fund collections were $6.2 million above estimates. The remaining $1.6 million in below-forecast collections were directed to other funds, mostly the Medicaid Benefits Trust Fund and the Michigan Strategic Fund.
Additional information from the monthly report by the Senate Fiscal Agency includes:
To read the full February 2023 monthly revenue report, please click here.
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