MEDC, Michigan Strategic Fund outline FY25 work-project spending, programs and reporting

LANSING — Senior leaders from the Michigan Economic Development Corporation (MEDC) and the Michigan Strategic Fund (MSF) briefed the House Committee on Labor and Economic Opportunity on the status of FY25 work projects, defining how the state classifies and manages multi-year grant and incentive funding.

According to Jill Trepkoski, senior vice president and chief financial and procurement officer at MEDC, “According to MCL 18.145, a work project is a one-time, nonrecurring effort designed to achieve specific goals.” She told the committee work projects remain available until finished or until 48 months after the fiscal year of the original appropriation, after which any remaining balance reverts to the State.

The update covered how work projects are tracked and categorized, MEDC reporting on major line items and active programs, and how expenditures, obligations and commitments are recorded and disbursed. Trepkoski said MEDC distinguishes between funds that have been expended (paid to recipients under executed agreements), outstanding obligations (funds on executed agreements not yet paid), committed (approved offers without fully executed agreements) and unobligated balances.

Why it matters: the committee heard that the state uses work projects to manage long-term economic development investments ranging…