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BREAKING NEWS! Thursday, February 28, 2013 |
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State Budget Forecast: Projected Deficit Shrinks By $463 Million State
Faces $627 Million Deficit In FY 2014-15, A new state budget forecast being released today will show the state’s projected budget deficit for the upcoming FY 2014-15 biennium now stands at $627 million, down from the $1.1 billion deficit projected in November. · The full forecast will be released later today at: http://www.mmb.state.mn.us/ · Watch the official forecast announcement at 11:45 a.m. at: http://www.senate.mn/media/ |
Click here
for Tentative Agenda, |
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The forecast will also show a projected
surplus of $295 million in the current FY 2012-13 biennium. Current law
directs $290 million to buy back the K-12 school shifts, leaving a balance of
$801 million remaining. Also under current law, the residual $5 million is
put towards the state’s budget reserve bringing that balance to $649 million. The 2016-17 structural balance improves
from $263 million in the November forecast to $782 million. Look for more detailed analysis of the budget
forecast’s potential implications for counties in Monday’s regular AMC
UPDATE. |
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Association
of Minnesota Counties| 125 Charles Avenue, St. Paul, MN 55103-2108 | Main
Line: 651-224-3344, Fax: 651-224-6540 |
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