Revenue Estimating Conference Adjusts FY 2020 Funding Projections
Posted on January 18, 2019
Twice a year, the state of Michigan conducts Consensus Revenue Estimating Conferences that include the House and Senate Fiscal Agencies and the state treasurer. Upon receiving counsel from the State Budget Office and outside economic experts, the conferees agree to revenue numbers that are then used by the governor and Legislature during the budget process. The first revenue estimating conference for the 2019-2020 fiscal year was held Jan. 11.
Total state General Fund (GF) revenues for fiscal year (FY) 2020 are projected to be slightly higher than the estimates that were reached in May. The state anticipates having approximately $225 million more available than was originally budgeted, with total GF revenue at approximately $10.6 billion. This is down from $11 billion in FY 2018 and roughly the same amount as in FY 2001, nearly two decades ago.
Gov. Gretchen Whitmer is expected to present her first Executive Budget recommendation in early March. Because the state constitution gives the new governor additional time to develop the initial budget for the administration, this year’s presentation is several weeks later than the typical mid-February release.
The MHA will continue to send updates and alerts as major topics impacting the state budget and healthcare are considered by the Legislature. For more information, contact Adam Carlson at the MHA.
Posted in: Issues in Healthcare, Top Issues - Healthcare