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Michigan vs Colorado Budget FY2024

Spending, revenue and category allocations compared side by side.

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Key Budget Metrics โ€” Michigan vs Colorado

Total Expenditure

Michigan

$85.8 billion

Colorado

$42.6 billion

Michigan is 101.7% higher
General Fund

Michigan

$15.5 billion

Colorado

$16.9 billion

Michigan is 7.9% lower
Total Revenue

Michigan

โ€”

Colorado

โ€”

Not comparable
General Fund Revenue

Michigan

$13.8 billion

Colorado

$17.3 billion

Michigan is 20.2% lower
Rainy Day Fund

Michigan

$2.0 billion

Colorado

$3.2 billion

Michigan is 36.7% lower
State GDP

Michigan

$730.1 billion

Colorado

$584.3 billion

Michigan is 24.9% higher

Receipts & Expenditure Comparison

ParticularsMichiganColoradoDifference
Total Expenditure (all funds)$85.8 billion$42.6 billion+101.7%
General Fund Expenditure$15.5 billion$16.9 billion-7.9%
Total Revenueโ€”โ€”โ€”
General Fund Revenue$13.8 billion$17.3 billion-20.2%
Rainy Day Fund$2.0 billion$3.2 billion-36.7%
State GDP$730.1 billion$584.3 billion+24.9%

Michigan per resident

$8,476

Colorado per resident

$7,077

Michigan โ€” Spending Composition

Colorado โ€” Spending Composition

Category-wise Allocation โ€” Michigan vs Colorado

CategoryMichiganColoradoDifference
1. All Other
$25.3 billion
$11.4 billion
+123.0%
2. Medicaid
$24.9 billion
$14.0 billion
+78.2%
3. K-12 Education
$22.1 billion
$7.6 billion
+191.9%
4. Transportation
$8.1 billion
$1.8 billion
+353.0%
5. Higher Education
$3.0 billion
$6.7 billion
-54.8%
6. Corrections
$2.4 billion
$1.2 billion
+104.2%

Compare Another Fiscal Year

FY2026FY2025FY2024FY2023FY2022FY2021

Understanding This Comparison

State budgets are compared on an all-funds basis โ€” the total across the general fund, federal grants, and dedicated state funds. This is the fairer measure, because states differ widely in how much they route outside the general fund. The general fund row shows the discretionary portion that state legislatures actually debate.

Fiscal years differ between states: most run July to June, Alabama and Michigan run October to September, and New York runs April to March. Figures labelled with the same fiscal year therefore cover slightly different periods.

Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.

Explore more budget data

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