Michigan Recommended Spending Percentages
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FAQ
A balanced budget refers to the budgeting concept that appropriations should not exceed resources available to cover these expenditures. Cities and towns are required to pass a balanced budget (RCW 35.33. 075, 35A. 33.075, 35.34.
24% of Michigan's agricultural revenues are generated by dairy products, most notably, milk and cheese. Michigan's production of dairy products ranks it #2 among all of the states. Cattle and calves, hogs, chicken eggs, and turkeys are also important to the state.
The governor and state Legislature are constitutionally obligated to submit and pass a balanced budget. The state balances its budget when expenses equal revenues. By law, the state cannot pass a budget that is not balanced. A budget is not balanced when there is a surplus or deficit.
Every U.S. state other than Vermont has some form of balanced budget provision that applies to its operating budget. The precise form of this provision varies from state to state. Indiana has a state debt prohibition with an exception for "temporary and casual deficits," but no balanced budget requirement.
In fiscal year 2020, state revenues totaled $88.3 billion. Michigan spent $90 billion during fiscal year 2020 to provide services to the citizens of Michigan.
The state spends its budget on government salaries, infrastructure, retirement, public health insurance, transportation, education and public assistance. Most of the budget is spent on education and public healthcare.
Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
Over the past 20 years, Michigan has spent roughly a half-billion dollars annually on what it characterizes as welfare.
What do state and local governments spend money on? State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
In the fiscal year of 2020, Michigan's state debt stood at about 30.56 billion U.S. dollars. By the fiscal year of 2026, this is forecasted to increase to about 33.69 billion U.S. dollars.
