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    Financial Health Dashboard

     

    Standard financial reports are highly technical and complex, making it difficult to determine the real condition of government's financial health. The information provided in this dashboard provides measurements that are easy to understand, providing a clear picture of the financial health of government in Michigan. With measurements ranging from how government is doing in addressing pension obligations to information on total revenue and expenditures, this dashboard provides key metrics for financial health.

    Please provide your feedback and comments regarding this dashboard to DMB-Contact-OFM@michigan.gov.

    Performance Key:

    Improving Performance improving
    No Change Performance staying about the same
    Getting Worse Performance declining
    --- iFor information purposes only; not intended to measure performance

    Click on the links in the table below for more detail.
    State Government
    Prior
    Current
    Progress
    Revenue & Expenditure Comparison (Funding Gap) 

    $1.6B

    (2011)

    $4.3B

    (2012)

    		 Improving
    Total Revenues

    $55.8B

    (2011)

    $56.1B

    (2012)

    		 --
    Total Expenditures

    $54.2B

    (2011)

    $51.8B

    (2012)

    		 --
    Size of Budget 

    $47.6B

    (2012)

    $48.2B

    (2013)

    		 --
    Reserves

    2.47%

    (2011)

    4.10%

    (2012)

    		 Improving
    Rainy Day Fund 

    $2.2M

    (2011)

    $365.1M

    (2012)

    		 Improving
    Cash Balances 

    $1.0B

    (2011)

    $1.6B

    (2012)

    		 Improving
    Issued Outstanding Debt

    ($23.4B)

    (2011)

    ($26.1B)

    (2012)

    		 Getting Worse
    Debt Per Capita 

    $2,373

    (2011)

    $2,646

    (2012)

    		 Getting Worse
    Revenue Dedicated Debt - Revenue to Debt Service Ratio 

    2.9x

    (2011)

    3.1x

    (2012)

    		 Improving
    Pension & Other Postemployment Benefit Obligations (Funding Gap)* 

    ($19.6B)

    (2011)

    (13.0B)

    (2012)

    		 Improving
    Unemployment Benefits (Fund Balance) 

    ($2.8B)

    (2011)

    ($1.2B)

    (2012)

    		 Improving

    Credit Rating:

    		      

    - Moody's

    Aa2 (Stable)

    (2012)

    Aa2 (Positive)

    (2013)

    		 Improving

    - S & P

    AA- (Stable)

    (2012)

    AA- (Positive)

    (2013)

    		 Improving

    - Fitch

    AA- (Positive)

    (2012)

    AA (Stable)

    (2013)

    		 Improving
    Number of Employees 

    47,818

    (2011)

    47,683

    (2012)

    		 --
    Local Government
    Prior
    Current
    Progress

    Revenue & Expenditure Comparison (Funding Gap)

    ($1.5B)

    (2009)

    $0.3B

    (2010)

    		 Improving
    Total Revenues

    $25.9B

    (2009)

    $27.1B

    (2010)

    		 --
    Total Expenditures

    $27.3B

    (2009)

    $26.8B

    (2010)

    		 --
    Issued Outstanding Debt 

    ($35.5B)

    (2009)

    ($32.4B)

    (2010)

    		 Improving
    Pension Obligations (Funding Gap) 

    ($1.3B)

    (2009)

    ($1.0B)

    (2010)

    		 Improving
    Number of Jurisdictions 

    1,858

    (2011)

    1,856

    (2012)

    		 --

    Number of Employees 

    130,030

    (2010)

    125,537

    (2011)

    		 --
    School Districts
    Prior
    Current
    Progress
    Revenue & Expenditure Comparison (Funding Gap) 

    ($0.9B)

    (2011)

    ($1.5B)

    (2012)

    		 Getting Worse
    Total Revenues 

    $18.6B

    (2011)

    $19.1B

    (2012)

    		 --
    Total Expenditures 

    $19.5B

    (2011)

    $20.6B

    (2012)

    		 --
    Reserves 

    6.88%

    (2011)

    6.67%

    (2012)

    		 Getting Worse
    Cash Balances 

    $2.4B

    (2011)

    $4.5B

    (2012)

    		 Improving
    Issued Outstanding Debt

    ($15.4B)

    (2011)

    ($14.7B)

    (2012)

    		 Improving
    Pension & Other Postemployment Benefit Obligations (Funding Gap) 

    ($48.3B)

    (2011)

    ($37.7B)

    (2012)

    		 Improving
    Number of Jurisdictions 

    884

    (2012)

    882

    (2013)

    		 --
    Number of Students 

    1,565,390

    (2011)

    1,561,075

    (2012)

    		 --
    Number of Employees 

    255,925

    (2011)

    256,619

    (2012)

    		 --
    Aggregated Governments
    Prior Current Progress
    Issued Outstanding Debt 

    ($72.4B)

    (2009)

    ($68.4)

    (2010)

    		 Improving
    Pension & Other Postemployment Benefit Obligations (Funding Gap) 

    ($56.7B)

    (2009)

    ($65.0B)

    (2010)

    		 Getting Worse
    Number of Employees 

    444,627

    (2010)

    429,280

    (2011)

    		 --
     

    *Projected


    > Download Spreadsheet Version of Financial Health Dashboard
     

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