The U.S. Geological Survey Great Lakes Science Center has conducted lake-wide surveys of the fish community in Lake Michigan each fall since 1973 using standard 12-m bottom trawls towed along contour at depths of 9 to 110 m at each of seven index transects. The resulting data on relative abundance, size and age structure, and condition of individual fishes are used to estimate various population parameters that are in turn used by state and tribal agencies in managing Lake Michigan fish stocks. All seven established index transects of the survey were completed in 2014. The survey provides relative abundance and biomass estimates between the 5-m and 114-m depth contours of the lake (herein, lake-wide) for prey fish populations, as well as burbot, yellow perch, and the introduced dreissenid mussels. Lake-wide biomass of alewives in 2014 was estimated at 1.6 kilotonnes (kt, 1 kt = 1000 metric tonnes), which was a record low and only 16% of the average biomass estimated since 2005. Moreover, the age distribution of alewives remained truncated with no alewife exceeding an age of 5. Record low biomass was also observed for nearly every other prey fish species: bloater (0.3 kt), rainbow smelt (0.02 kt), slimy sculpin (0.09 kt), deepwater sculpin (1.0 kt) and ninespine stickleback (0.004 kt). Round goby was the only prey fish species to avoid a record-low biomass estimate (2.04 kt); the 2014 estimate was 58% of the average lakewide biomass observed since 2006 when round gobies became relatively abundant in our catches. Burbot lake-wide biomass (0.5 kt in 2014) has remained below 3 kt since 2001. No age-0 yellow perch (i.e., < 100 mm) were captured during the survey, which is indicative of a poor year-class. Lake-wide biomass estimate of dreissenid mussels in 2014 was 23.9 kt, not different from 2013 (23.2 kt). Overall, the total lake-wide prey fish biomass estimate (sum of alewife, bloater, rainbow smelt, deepwater sculpin, slimy sculpin, round goby, and ninespine stickleback) in 2014 was only 5.1 kt, compared to the previous record-low prey fish biomass of 15.2 kt in 2012. In 2014, alewives and round gobies constituted 71% of this total, following a trend of dominance by these species since 2012.