According to the Michigan Bulletin 1014 which provides detailed revenue and expenditure reports for all public school districts by school year since 1994, the following represents the short and sweet reality of per pupil funding through combined state and local sources (the most recent data is 2012):
1994 = $6,554 per pupil
2012 = $8,171 per pupil
However, had 1994's per pupil revenue at least kept up with inflation with no other legislated increases, the 2012 combined state and local revenue should have been $10,153 per pupil.
Instead of at a minimum keeping up with rising costs for operating schools, Michigan's legislature over the past eighteen years has chosen to effectively reduce public school funding in real dollars by nearly $2,000 per student.
Regardless of the Governor's claims, the pattern has continued this year.
Graph from: http://www.governing.com/columns/public-finance/col-threat-defunding-education-slow-down-tax-cuts.html