State Budget Forecast Brings Good News


Minnesota Management and Budget (MMB) announced an $876 million projected State budget surplus on December 1. The story of this forecast is simple. For the past year, Minnesota collected more revenue than they anticipated while expenditures were lower than projected. As a result, the 2010-2011 biennium ended with a surplus on June 30. This extra money was then carried into the 2012-2013 biennium. Going forward, for the remainder of the 2012-2013 biennium, MMB’s forecast is very cautious. It projects that Minnesota will collect less revenue which will be more than offset by a decrease in expected expenditures.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Elections & Politics Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Winthrop & Weinstine, P.A. | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »