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Business Leaders for Michigan is an organization dedicated to making Michigan a "Top Ten" state for jobs, personal income and a healthy economy. Serving as the state's business roundtable, Business Leaders for Michigan is composed of the chairpersons, chief executives or most senior executives of the state’s largest job providers and universities. Read more...

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Entries in Budget (4)

Wednesday
Jun112014

Business Leaders for Michigan Applauds Legislature’s action on FY 2015 University Budget

Provides most significant investment in higher education in over a decade, helps make college affordable

DETROIT, Mich. June 11, 2014 —Business Leaders for Michigan (BLM), the state’s business roundtable, strongly applauded today final passage of the Fiscal Year 2015 budget for the state’s public universities. 

The budget provides a 5.9% increase for Michigan’s 15 public universities. Half of the funding is based on performance measures that reward schools for producing graduates to fill Michigan jobs and to control costs and increase affordability for Michigan students. In addition the budget provides a 5.9% increase for state programs to help students at private colleges pay for their tuition. 

Doug Rothwell, BLM President & CEO, explained the importance of the action, “Increasing funding for our public universities and tying that funding to affordability and performance has been a foundation of our Michigan Turnaround Plan and is critical to making Michigan a top ten state for jobs, personal income, and a healthy economy. In the next 10 years and beyond, Michigan will need more workers with education and training beyond high school to fill job demand. This budget will help make college more affordable so that Michigan students can get the skills necessary to fill those jobs.” 

Mr. Rothwell praised the Governor and legislative leaders for adopting a budget that marks the most significant investment in higher education in a decade. “As Michigan has begun to turn around and its economic condition has improved, Governor Snyder has made reinvesting in higher education a priority. In the legislature, Senator Tonya Schuitmaker and Representative Al Pscholka have been staunch advocates for increasing state support and making college more affordable for Michigan families. They all deserve tremendous credit for reversing a decade-long trend of disinvestment in one of our state’s most important resources.” 

“We look forward to continuing to work with Governor Snyder, our legislative leaders, and our state universities to produce the graduates we need and to make college even more affordable.”

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Thursday
May172012

Business Leaders for Michigan releases Fiscal Scorecard

Scorecard measures five indicators of fiscal health, shows promising turnaround in most areas. Pension costs need to be addressed.

DETROIT, Mich., May 17, 2012 – Business Leaders for Michigan (BLM), the state’s business roundtable, today released the annual Michigan Fiscal Scorecard, “Assessing the Management of Michigan Governments”. This review of state and local government finances measures five indicators of fiscal health – revenue and expenditures, cash balances, reserves, pension obligations and debt levels-  and is part of BLM’s strategy to determine whether Michigan’s fiscal management practices are improving. The report was prepared for BLM by Anderson Economic Group, LLC.

“The Michigan Fiscal Scorecard gives us a clear picture of the progress the state and local governments are making in managing their finances, as well as identifying those areas that still need improvement, “ said Doug Rothwell, President & CEO, Business Leaders for Michigan. “As we continue to work to turn around Michigan and make it a Top Ten state for job, economic and personal income growth, this realistic review of the state’s fiscal health allows us to gauge how Michigan compares to other states, whether benchmarks are being met, and what steps need to be taken to ensure continued fiscal strength.”

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Sunday
Feb192012

Step 1 of the Michigan Turnaround Plan: Getting our fiscal house in order

There is a lot of discussion in the world today about the debt being racked up by many nations.  In most cases, this debt was accumulated after years of not following sound fiscal and accounting practices.  America is a good example.  For years we’ve failed to balance our budget, based budgets on overly optimistic revenue forecasts and did not take into consideration the long-term costs of our policy actions.  Our growing debt obligations has led to a great deal of uncertainty about the future.  This has caused job providers to slow investment and consumers to cut back on spending.  Michigan experienced much the same situation during the past decade and this has contributed to our “one state, decade long” recession.

This is why Business Leaders for Michigan made the first step of the Michigan Turnaround Plan about responsibly managing finances.  The Plan is a holistic, fact-based strategy to make Michigan a Top Ten state for job, economic and personal income growth. 

Our original plan called for the state to manage its money the way a responsible household or business would – by balancing the budget without one-time gimmicks, projecting revenues using sound information and projecting spending needs over the long-term.  Fortunately, the state has implemented many of these suggestions during the past year and as a result has been able to start paying down debt and generating a small budget surplus.  As a result, business confidence is up and Michigan’s economy is turning around.

We must build on the solid foundation laid this past year by memorializing in policy or law the practices outlined above so we don’t slip back into bad habits after this Governor and legislature leave office.  We need to continue paying down the billions of debt we racked up the past decade and require that every piece of proposed legislation have a “price tag” attached to it so policy makers understand the consequences of their actions.  We also recommend the state adopt a long-term strategic plan that clearly identifies what we should expect from state government to guide annual budgets.   

Adopting sound accounting practices and fiscal policies don’t get much attention in the news.  But we’ve seen around the world what happens when we ignore these basics.

Tuesday
Jun212011

Business Leaders for Michigan on the Governor Signing the 2012 Budget

Business Leaders for Michigan, the state’s business roundtable, today applauded Governor Rick Snyder and the Michigan Legislature for their swift action on the 2012 budget.

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