{"data":{"id":"us-mi/mich.-comp.-laws-141.444","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 141.444","heading":"Budget stabilization fund; purposes; sufficiency of municipality's revenue.","body":"Sec. 4.\n\nMoney in the budget stabilization fund may be appropriated by an ordinance or resolution adopted by a 2/3 vote of the members elected and serving of the governing body of the municipality which created the fund for the following purposes:\n\nTo cover a general fund deficit, when the municipality's annual audit reveals such a deficit.\n\nTo prevent a reduction in the level of public services or in the number of employees at any time in a fiscal year when the municipality's budgeted revenue is not being collected in an amount sufficient to cover budgeted expenses.\n\nTo prevent a reduction in the level of public services or in the number of employees when in preparing the budget for the next fiscal year the municipality's estimated revenue does not appear sufficient to cover estimated expenses.\n\nTo cover expenses arising because of a natural disaster, including a flood, fire, or tornado. However, if federal or state funds are received to offset the appropriations from the fund, that money shall be returned to the fund.\n\nIn determining whether a municipality's revenue is not sufficient to cover its expenses, a reduction in the amount of money received for the fiscal year from any source in comparison to the amount of money received for the previous fiscal year, including a reduction in the allocation of state tax money, shall be considered.","path":["MI Code","Chapter 141","Act Act-30-of-1978"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-141-444","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"4ea7be4f3fe01dd7baa6c536d2781520a97166faf44f8b1b43f85998d65956c7","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-141.443","next":"us-mi/mich.-comp.-laws-141.445"},"notice":"GroundRules: Original legal text. Not legal advice."}