TREAS Public Facing - ORTA 7 - Revenue Estimate - Accuracy

The Office of Revenue and Tax Analysis (ORTA) estimates revenues each year to assist with forecasting and financial planning for the State of Michigan. The target of 3% is in reference to estimate revenues within 3% of actuals. Providing accurate revenue estimates impacts the overall state budget process and allows for better budget planning. A lower current value indicates estimates were closer to actuals. This metric is updated on a fiscal-year basis with the update taking place once the Annual Comprehensive Financial Report (ACFR) is published.