MI HB4017

Amends Section 492 of the Management and Budget Act (MCL 18.1492) to modify financial reporting requirements for state agencies.

Changes language from "the state" to "this state" in describing which financial statements must be included in the comprehensive annual financial report.

Requires the comprehensive annual financial report for fiscal year 2016-2017 and each subsequent fiscal year to itemize all payments made to each local unit of government during that fiscal year.

Maintains existing requirements that state agency financial statements be audited and submitted to the Department of Technology, Management, and Budget within 90 days after the close of the fiscal year.