The State Budget Process in Michigan

1/20/99


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Table of Contents

1. The State Budget Process in Michigan

2. Introduction

3. About CRC

4. What is a Budget?

5. What a Budget Does

6. Allen Shick

7. The Power of the Purse

8. Today's Session

9. Overview of Presentation

10. Elements of the Michigan Budget Process

11. Principal Topics

12. What is a Budget?

13. The Process

14. Financial Plan

15. Allocation of Scarce Resources

16. Expenditure Control

17. Mechanism for Accountability

18. Mechanism to Distribute/Transfer Resources

19. Performance Evaluation

20. Summary

21. Legal Framework

22. Constitutional Framework

23. Power of the Purse

24. Power to Tax

25. Power to Tax

26. Power to Appropriate

27. No appropriation shall be a mandate to spend.

28. Nature of an Appropriation

29. Power to Borrow

30. Balanced Budget Provisions

31. Balanced Budget Provisions Common in Other States

32. Headlee Amendment

33. Headlee Amendment Provisions

34. Revenue Limitation

35. Revenue Limit History

36. Expenditure Limitation

37. State and Local Spending Requirement

38. State and Local Spending Requirement

39. State Mandates

40. Gubernatorial Veto

41. Statutory Framework

42. Management and Budget Act

43. Countercyclical Budget & Economic Stabilization Fund

44. Rainy Day Fund

45. Transfers IN

46. Transfers OUT

47. Limitations on BSF Balances

48. Phases in Budget Process

49. Phases in the State Budget Process

50. Preparation

51. Adoption

52. Execution

53. Book-closing

54. Book-closing

55. Audit

56. Overlapping Nature of Process

57. Overlapping Nature of Process

58. Any Questions with the first part of our presentation?

59. Revenue and Fund Accounting

60. Wayne State University State Policy Center

61. Statutory Framework

62. Consensus Revenue Estimating Conference

63. Estimating Revenue

64. R.S.Q.E.

65. Revenue Estimating

66. State Government Revenues

67. Fund Accounting

68. Some Key Terms

69. Michigan Funds

70. Governmental Funds

71. General Fund

72. Special Revenue Funds

73. Capital Projects Funds

74. Debt Service Funds

75. Proprietary Funds

76. Component Unit Funds

77. Fiduciary Funds

78. Agency Funds

79. Expendable Trust Funds

80. Nonexpendable Trust Funds

81. Michigan Key Funds

82. Common Cash Funds

83. More Key Terms

84. The End

Email: crcmich@crcmich.org

Home Page: http://www.crcmich.org/

Other information:
Presented to new House of Representatives and staff on January 20, 1999.