Governor Rick Snyder signs FY 2016 Budget into law

LANSING, MI (WLNS) – For the fifth year in a row, Michigan has balanced it’s budget and this afternoon, the governor signed the 2016 budget into law.

This budget is what the governor describes as a good example of responsible budgeting that will continue to reinvent Michigan and work toward moving the state forward.

Governor Rick Snyder highlighted a few of the key investments made into the 2016 fiscal year budget, one that he says will pay down debt and prioritize funding that will go toward skilled trade, education, infrastructure, law enforcement, and transportation.

More than 75 percent of the budget will go toward bettering education and health and human services.

A total of  $11.8 billion will go toward the School Aid Fund, allowing for  an increase in the per-pupil foundation grant which ranges from $70 to $140 per student for every school, increasing the total state spending for the School Aid Budget to more than $1.3 billion.

Another element in the budget that goes hand-in-hand with economic development and education is of course skilled trade.

A field the governor describes as his number one priority as it will create more jobs in Michigan, a total of $85 million will go toward training.

$400 million will be devoted to the states transportation systems, which of course contributes to fixing our roads and bridges.

And there’s still room for saving as $95 million will go into the state’s rainy day fund, bringing the total balance to more than $600 million by the end of 2016.

There will also be investments made in health care and law enforcement.

“We made a number of decisions in terms of where to use dollars. I wouldn’t be able to walk you through all of the pieces but there are a number of places where we reallocated resources and it worked out effectively,” Governor Rick Snyder said. “Again we trimmed some areas, everything from economic development, to health services..but we did it in a smart way.”

The 2016 fiscal year budget is scheduled to begin on October 1.

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