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With a healthy dose of caution, given economic uncertainty and international issues, state fiscal leaders concluded Friday that Michigan’s economic forecast has once again greatly exceeded projections.

“Our revenues are in a great position, and there is a lot to be optimistic about,” state Treasurer Rachael Eubanks said.

Combining the current fiscal year (FY 2022) and FY 2023, revenues in the School Aid Fund and General Fund are estimated at $5 billion total more than previously projected. That includes $3 billion more for FY 2023.

Top officials from the Treasury Department and the nonpartisan House and Senate fiscal agencies came together at the Michigan Capitol on Friday for the year’s final Consensus Revenue Estimating Conference (CREC).

Read More in Michigan Advance