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Frequently Asked Questions Regarding the State's Finances
The following questions provide an easily understandable overview of Michigan's finances. To find the answer to a particular question, click on it. Where appropriate, answers may include links to additional, more detailed information. We are interested in hearing your thoughts or suggestions regarding the questions and answers. Use this link to submit comments. |
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State Finances
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Does the state borrow money?
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Answer:
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Yes. The state borrows money for a variety of construction, repair, and renovation projects involving state highways, higher education facilities, state park improvements and state government buildings. State borrowing also provides financing to local school districts for school buildings and renovations. The state also has issued Clean Michigan Initiative bonds to finance environmental cleanup, pollution prevention, and redevelopment projects.
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