Revenues for Fiscal Year (FY) 2012 are $500 million flusher than was estimated in January, according to today's Consensus Revenue Estimating Conference (CREC)
The exact number agreed to by the Treasury Department, House Fiscal Agency (HFA) and Senate Fiscal Agency (SFA) is $498.6 million. Estimates don't include the tax overhaul passed by the Legislature last week.
The General Fund is up $356.9 million and the School Aid Fund is up $141.7 million.
The tax plan does not impact FY '11. However, it will mean $154.7 million more for the General Fund for a net impact of $511.6 million.
The SAF will lose $689.9 million under the tax plan for a net impact of a $548.3 million loss.
The combined net impact of the tax plan is a loss of $36.7 million.
MEA
About Me
- Tfitzjake
- I wrote this introduction 6 years ago, and it is even more important today than ever. The voices of educational employees need to be heard above the roar of public school attacks in this country. We are on the front line; we are highly educated and trained professionals. Why are we being ignored? I am an educator. I was the president of the Walled Lake Education Association for over 6 years, and before that, the treasurer for 8 years. I have been on the bargaining team for 15 years. I am now the MEA UniServ Director for 7K and parts of IJ. I want our voice to be heard! Today's educational climate requires that we all stay informed regarding the issues affecting our chosen profession!