Govenor Snyder Unveils Fy 2013 Budget Recommendations

Michigan Governor Rick Snyder was joined Thursday by Lt. Governor Brian Calley and State Budget Director John Nixon in presenting the Administration’s recommendations for the FY 2013 budget before a joint meeting of the House and Senate Appropriations committees. The $48.2 billion total spending plan came with a considerably more positive, yet still restrained tone. The Governor’s recommendations, including 2014 projections, can be viewed in its entirety at http://www.paaonline.com/resources.php
As with last year, the budget will be presented in two pieces of the legislation – one on education (K-12, community colleges and higher education) and one for the remaining State expenditures. The Governor stated that he hoped the budget would be completed along a timeline similar to the May completion of the current budget.

Highlights of the roughly 2.4 percent larger budget include:

· The use of $119 million in one-time General Fund money for roads in order to maximize Federal matching dollars – a total of $3.3 billion, or a 0.4 percent decrease from 2011 – 2012 FY.

· $195 million for economic gardening efforts within the Michigan Economic Development Corporation (MEDC), as well as $25 million for film incentives

· $50 million to the Department of Technology, Management & Budget, specifically to update the state’s oldest information and accounting systems

· $179 million for the public school employees’ retirement system

· $25 million for State buildings needing repair and renovation

· $130 million for the budget stabilization or “rainy day” fund

· $12.69 billion for School Aid, $12.5 billion of which is ongoing spending, representing a 2.5 percent increase over the current fiscal year

· A roughly 2.8 percent increase in higher education funding, from $1.36 billion in the current year to $1.39 billion in 2012-2013

PAAdvisory will analyze additional details of the Governor’s FY 2013 budget recommendations in coming editions.

posted by PAA Online , Friday, February 10, 2012 10:31 AM
LINK DIRECTLY TO THIS ARTICLE

This Week's Newsletter

Past Newsletters