Mich. Comp. Laws § 484.1407

Sec. 407. (1) The emergency 9-1-1 fund is created within the state treasury. (2) The state treasurer may receive money or other assets as provided under this act and from any source for deposit into the fund. Money may be deposited into the fund by electronic funds transfer. Money in the CMRS emergency telephone fund on July 1, 2008 must be deposited into the fund and expended as provided by this act. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments. (3) Money in the fund at the close of the fiscal year remains in the fund and does not lapse to the general fund. (4) The department of treasury shall expend money from the fund only as provided in this act. The disbursement of money may be by electronic funds transfer. (5) The auditor general shall audit the fund at least biennially.