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Posted: 10:06 AM Dec 23, 2009
State Budget Woes Continue
Another bleak revenue report for Michigan.
Reporter: Associated Press |
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Michigan's bleak state budget situation likely will continue in the fiscal year that starts in October 2010.
The nonpartisan Senate Fiscal Agency projects that tax revenue will continue to fall largely because of Michigan's struggling economy. A report released Tuesday estimates that the state's general fund and school aid fund combined could be more than $1.8 billion short for the 2010-11 fiscal year.
The report says state officials will have to make "very significant" spending cuts unless state taxes are increased.
Money from the federal stimulus package and a small carry-over surplus could help officials avoid big cuts in the current budget year.
The fiscal agency estimates that the state's unemployment rate could average 16.1 percent in 2010.
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Independent Bank Updates
Independent Bank associate King-Fuller joins United Way Board of Directors
Robin King-Fuller, bank manager of Independent Bank’s Mason location, has joined the Mason Area United Way board of directors. King will serve a three-year term.
— Julie Morgan has been promoted to bank manager, & Garrett Bensinger has been promoted to assistant vice president.
Independent Bank associate King-Fuller joins United Way Board of Directors
In 2008, Independent Bank associates throughout Michigan worked with local community groups and schools to educate children and adults of all ages about the importance of money management, saving and financial responsibility.
