... LimitsStatelawrequirestworevenueestimatingconferenceseachyear,typicallyheldinmid-Januaryandmid-May,correspondingtokeypointsintheannualbudgetdevelopmentandlegislativeappropriationsprocess.TheJanuaryconferenceprovidestherevenueestimatesfortheGovernor’sbudgetrecommendationpresentedinFebruary,whiletheMayconferenceupdatestherevenueestimatespriortoconclusionoflegislativedeliberationsandtheenactmentofappropriations.Confereesincludethe State TreasurerandthedirectorsoftheSenateandHousescalagencies.Theconfereesagreeonbaselinerevenueestimatesforthecurrentyear,andtheupcomingscalyearforboththegeneralfundandSchoolAidFund.Forscalyear2012,theconfereesprojectcombinedgeneralfundandSchoolAidFundrevenuestotaling$18.5billion,anincreaseof$281millionor1.5percentfromscalyear2011.Revenuessupportingtheanticipatedappropriationsforscalyear 2013 werenotapartoftheformalconsensusprocess,andwereinsteaddevelopedbythe State Treasurer.CombinedgeneralfundandSchoolAidFundrevenuesforscalyear 2013 areestimatedtototal$18.6billion.Baselinerevenuegrowthfromscalyear2012to 2013 is$503millionor2.8percent,however,itisoffsetby$410millioninenactedtaxexpenditurecommitments.-$0.6$0.0$0.2-$2.4-$3.9-$4.2-$4.4-$4.2-$4.9-$5.3-$4.7-$8.0-$8.9-$7.1-$8.0-$8.1199819992000200120022003200420052006200720082009201020112012 2013 State ... LimitsStatelawrequirestworevenueestimatingconferenceseachyear,typicallyheldinmid-Januaryandmid-May,correspondingtokeypointsintheannualbudgetdevelopmentandlegislativeappropriationsprocess.TheJanuaryconferenceprovidestherevenueestimatesfortheGovernor’sbudgetrecommendationpresentedinFebruary,whiletheMayconferenceupdatestherevenueestimatespriortoconclusionoflegislativedeliberationsandtheenactmentofappropriations.Confereesincludethe State TreasurerandthedirectorsoftheSenateandHousescalagencies.Theconfereesagreeonbaselinerevenueestimatesforthecurrentyear,andtheupcomingscalyearforboththegeneralfundandSchoolAidFund.Forscalyear2012,theconfereesprojectcombinedgeneralfundandSchoolAidFundrevenuestotaling$18.5billion,anincreaseof$281millionor1.5percentfromscalyear2011.Revenuessupportingtheanticipatedappropriationsforscalyear 2013 werenotapartoftheformalconsensusprocess,andwereinsteaddevelopedbythe State Treasurer.CombinedgeneralfundandSchoolAidFundrevenuesforscalyear 2013 areestimatedtototal$18.6billion.Baselinerevenuegrowthfromscalyear2012to 2013 is$503millionor2.8percent,however,itisoffsetby$410millioninenactedtaxexpenditurecommitments.-$0.6$0.0$0.2-$2.4-$3.9-$4.2-$4.4-$4.2-$4.9-$5.3-$4.7-$8.0-$8.9-$7.1-$8.0-$8.1199819992000200120022003200420052006200720082009201020112012 2013 State Revenues are $8 Billion Below the Constitutional Revenue LimitBillionsJanuary 2011Consensus; Administration (2013) overviewA-4 Foundation for ... our progress. At the end of the day, we will be a stronger, more vibrant state. ” Governor Rick Snyder, State of the State Address, January 19, 2011overviewA-6 Foundation for Michigan’s...