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Monday, November 25, 2024

MUCH OF IT IS "ONE-TIME" MONEY

Money 05

City of Clio recently issued the following announcement.

MUCH OF IT IS "ONE-TIME" MONEY, meaning it ideally would be spent on building projects and other one-time expenditures, rather than to to initiate new programs that will result in annual salary and operating costs. But higher than anticipated growth in income tax and sales tax revenues means the state probably has about $600 million a year in ongoing general fund revenues beyond what it anticipated earlier, Budget Director Christopher Harkins said after Friday's, January 14, 2022 state revenue conference. 

That money could be used for new programs, he said.

Original source can be found here.

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