Skip Navigation
MiDashboard - Reporting ScorecardMichigan.gov - Official Web Site for the State of Michigan
Michigan.gov Home
  • Open Michigan
  • MI Dashboards
  • Performance
  • Spending
  • close print view

    Major Fund Cash Balances

    Why it Matters: Positive cash balances help state government minimize borrowing costs and meet current obligations. For several years, state government has not maintained sufficient cash balances in its major funds (the General Fund and School Aid Fund) in order to make scheduled payments. As a result, in nine of the last ten years, the state has borrowed approximately $1 billion at the beginning of each fiscal year that is paid back with interest prior to the end of the fiscal year. The cash position improved in fiscal year 2012 to the point that such short-term borrowing was not necessary and the major funds ended the year with cash balances totaling $1.6 billion.

    Source: Michigan Dept. of Treasury Annual Reports


    QR code

    Michigan.gov Home
    Accessibility PolicyLink PolicySecurity PolicyPrivacy PolicyMichigan NewsMichigan.gov Survey

    Copyright © 2001-2013 State of Michigan