CRC Memorandum
| No. 1066 | A publication of the Citizens Research Council of Michigan | September 2002 |
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Table 2
Tobacco Settlement - Revenues and Expenditures
Fiscal Years 2000 - 2003
| FY2003 | |||||
|---|---|---|---|---|---|
| FY2000 | FY2001 | FY2002 | Current Appropriation | Proposal 02-04 | |
| Total Tobacco Settlement Revenue | $351.6 | $261.0 | $328.2 | $328.6 | $330.0 |
| Merit Award Trust Fund:* | |||||
| Revenues: | |||||
| Share of Annual Revenue | 105.5 | 130.5 | 246.1 | 246.5 | |
| Balance from prior year | 10.9 | 39.6 | 20.9 | ||
| Interest Earnings | 4.1 | 4.6 | 6.0 | 6.3 | |
| Revenue Subtotal | 109.6 | 146.0 | 291.7 | 273.6 | 330.0 |
| Expenditures: | |||||
| Merit award scholarships** | 90.4 | 82.3 | 112.2 | 114.3 | 0.0 |
| Tuition incentive program** | 5.3 | 5.3 | 5.3 | 5.3 | 0.0 |
| MEAP testing** | 3.0 | 18.8 | 18.9 | 18.9 | 0.0 |
| Michigan Education Savings Plan** | 1.0 | 1.0 | 0.0 | ||
| Post secondary access student scholarships** | 2.0 | 2.0 | 0.0 | ||
| Nursing scholarships | 4.0 | 3.3 | |||
| Lapse to general fund (PA 120 of 2001) | 72.5 | ||||
| Lapse to general fund (E.O. 2001-9) | 59.0 | ||||
| Lapse to general fund (PA 530 of 2002)*** | 100.0*** | 33.0*** | |||
| Expense Subtotal | 98.7 | 106.4 | 270.9 | 245.5 | |
| Balance - Merit Award Trust*** | 10.9 | 39.6 | 20.9*** | 28.1 | |
| Tobacco Settlement Trust Fund:* | |||||
| Revenues: | |||||
| Share of annual revenue | 246.1 | 130.5 | 82.1 | 82.2 | |
| Balance from prior year | 116.9 | 117.8 | 39.8 | ||
| Interest earnings | 10.2 | 11.0 | 5.0 | 2.9 | |
| Revenue Subtotal | 256.3 | 258.4 | 204.9 | 124.8 | |
| Expenditures: | |||||
| Nonprofit Hospitals | 0.0 | 92.0 | |||
| Tobacco-Free Futures Fund | 0.0 | 49.3 | |||
| Licensed Nursing Homes | 0.0 | 42.7 | |||
| Licensed Hospices | 0.0 | 6.6 | |||
| Healthy Michigan Foundation | 0.0 | 3.3 | |||
| Nurse Practitioners | 0.0 | 3.3 | |||
| School Health Centers | 0.0 | 3.3 | |||
| Council of Michigan Foundations | 10.2 | 6.0 | 4.0 | 4.0 | 6.6 |
| MEAP testing | 12.0 | ||||
| Michigan Education Savings Plan | 2.0 | ||||
| Post secondary access student scholarships | 1.0 | ||||
| Career development initiative | 47.0 | ||||
| Elder pharmaceutical insurance (EPIC) | 1.1 | 45.0 | 30.0 | 42.9 | |
| Emergency pharmaceutical program for seniors | 4.5 | ||||
| Long term care innovation grants | 10.0 | ||||
| Medicaid nursing home personal needs allowance** |
5.0 | 5.0 | 5.0 | 5.0 | 0.0 |
| Office on Aging long term care advisor** | 0.2 | 3.0 | 0.8 | 0.8 | 0.0 |
| Office on Aging respite care** | 5.0 | 5.0 | 5.0 | 5.0 | 0.0 |
| Indigent medical program | 10.0 | 2.8 | |||
| Rural health | 10.0 | ||||
| Medicaid support** | 20.0 | 30.0 | 30.0*** | ||
| Wayne State University - perinatal | 3.0 | ||||
| Life Sciences Corridor | 50.0 | 50.0 | 45.0 | 45.0 | 42.9 |
| Rare isotope accelerator project** | 2.0 | 0.0 | |||
| AG tobacco settlement administration** | 0.4 | 0.0 | |||
| Lapse to General Fund (April 2001) | 20.0 | ||||
| Lapse to General Fund (PA 120 of 2001) | 3.0 | ||||
| Lapse to General Fund (E.O. 2001-9) | 24.5 | ||||
| Expense Subtotal | 139.4 | 140.6 | 165.1 | 122.2 | |
| Balance - Tobacco Settlement Trust*** | 116.9 | 117.8 | 39.8*** | 2.6 | |
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* By statute, the tobacco settlement money is allocated to the Merit Award Fund as follows: 30 percent in FY 2000; 50 percent in FY 2001; and 75 percent in FY 2002 and thereafter. The remainder is deposited in the Tobacco Settlement Trust Fund. Source: Columns 1-4 from Michigan Office of the State Budget |
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