EAST LANSING (WWJ/AP) – Michigan Gov. Rick Snyder’s in no hurry to decide what to do with a possible surplus in the just-ended budget year.

He told reporters Tuesday that he wants to wait until the new year before deciding how best to deal with the extra cash, which could total $285 million or more.

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“We should wait. The economy, in a macro sense, at the national and international level, is pretty tenuous,” said Snyder.

“And I would like to get til January when we really have the revenue estimating conference and look at it in the big picture. And I want to be thoughful and cautious about it in partnership with the legislature,” he said.

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Snyder wants the money to go toward “worthwhile investments, not just spending.”

He won’t say what those investments might be. Asked whether he might consider using some of the surplus to fill a need for $60 million in home heating assistance, he says funding the program remains a “challenge.”

Democrats say the surplus should go toward public education, while some GOP lawmakers want to put it in the rainy day fund or toward paying off debt.

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The Associated Press contributed to this report.