WASHINGTON DC – Most states are in relatively stable fiscal situations, and that includes Michigan, a report released by the National Conference of State Legislatures has found.

The latest report on states fiscal conditions shows that 36 states expect to meet their revenue projections, including Michigan (although it may fall a touch short of its revenue projections).

And in terms of budget areas the state has had to spend more than forecasted, the report shows Michigan as relatively boring compared to the other states. It forecasts no unexpected increased spending in any budget area, according to the report.

While the report does not contain any of the dire references that NCSL state fiscal reports cited during the Great Recession when states having revenue shortfalls were common among most states, it did say there were still issues about which states worried.

Those items states worried about were sluggish revenue growth overall as the economy continues to slowly recover, rebuilding their budget reserves and long-term spending trends. Those long-term trends in many states include K-12 education and health care spending.

The states expected to exceed their revenue estimates include New York and California, along with Texas, North Dakota, Vermont, Kansas, New Mexico, Arkansas and Georgia.

The states expected to fall short of their forecasts include a collection largely in the eastern middle of the country – North Carolina, West Virginia, Tennessee, Kentucky and Indiana. Delaware and Oklahoma are also expected to see a shortfall.

The report said that as of February, Michigan revenues were $7 million off their forecasts (the state’s next Revenue Estimating Conference will be held on Thursday, May 15). That should not cause any issues for the state.

The report said that Michigan is showing consistent moderate revenue growth as is the economy. Revenues and expenditures are both within their expected ranges, the report said.

It did say that Michigan’s reserves are being drawn down some to help pay for some one-time budget expenditures, but otherwise the state’s fiscal picture is considered healthy.

The report came out roughly two months before most state’s see their fiscal year come to an end. Most states are on a July to June fiscal year. Michigan’s fiscal year goes from October to September.

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