The executive recommendation for the Fiscal Year (FY) 2003-2004 Capital Outlay budget. This appropriates $593.0 million in adjusted gross spending (funded from all sources, including special state restricted fund and federal pass-through dollars, minus interdepartmental transfers), compared to $573.2 million, which was the FY 2002-2003 amount enrolled in 2002, excluding any supplemental appropriations, line-item vetoes, or later cuts. Of this, $306.3 million will come from the General Fund (funded by actual state tax revenues), compared to the FY 2002-2003 amount enrolled in 2002 of $304.4 million. Much more information on Michigan’s budget is available at <a href="http://www.mackinac.org/4964">Hot Topics: Michigan’s Budget Challenge</a> at www.mackinac.org/4964.
Referred to the Committee on Appropriations