Stabilized State Budget and Rainy Day Fund Deposits Improve State’s Cash Position
State Budget Note 2012-01, February 2012
While the State of Michigan’s final audited figures for Fiscal Year 2011 are not complete, recent evidence suggests that state policymakers have reversed course over the past five years and have taken steps to address the state’s once very weak cash position. The report documents the recent improvements in the state’s cash position, and urges lawmakers to continue to maintain a focus on this important indicator of the state’s overall financial health.