Minnesota Budget Bites

The State of Minnesota is expected to see unprecedented levels of resources, including a strong boost in the short-term ...

The state of Minnesota’s revenue picture continues to improve, but the national economic recovery is expected to be a li...

The forecast projects a $7.7 billion general fund surplus for the current FY 2022-23 budget cycle, and a $6.0 billion structural balance for the upcoming FY 2024-25 budget cycle. These projections represent a historic opportunity to make transformational changes to build a more equitable recovery.

A surplus in the November forecast could trigger two actions: a change in the budget reserve, and a change in when retailers and vendors submit sales tax payments to the state.