Minnesota lawmakers want to dive deeper into the details of a state report showing a $1 billion budget surplus awaits them. The House Ways and Means Committee summoned state finance officials to a hearing Friday to give more information about the just-released revenue forecast.
Minnesota finance officials say lawmakers have a $1 billion projected surplus at their disposal in the upcoming session. The estimate provided Thursday in a new economic forecast should make for a smoother path to a new two-year budget.
The Minnesota Orchestra says it has ended the 2014 budget year with a smaller-than-expected deficit of $650,000. The orchestra announced Tuesday that it reduced its deficit despite a 16-month lockout of union musicians that ended Feb. 1.
The embattled Archdiocese of St. Paul and Minneapolis has announced it will be slashing its budget by 20 percent. In a statement, the archdiocese says more than $5 million in cuts is due to unexpected legal fees.
After a year filled with scrutiny and scandal, the Archdiocese of St. Paul and Minneapolis says cuts are coming. The archdiocese will cut more than $5 million, or about 20 percent from its budget.
Republican Senate candidate Mike McFadden is making several promises for legislative action if he defeats Sen. Al Franken. McFadden vows to help write a balanced budget amendment — and a bill that would halt lawmaker pay if Congress doesn’t pass a budget — within his first 100 days in office.
Minnesota’s tax collections for the year have fallen further behind earlier projections. State finance officials reported Wednesday that tax collectors took in $10 million less than expected in August. Individual income taxes lagged the most. In all, the state took in more than $1.3 billion last month.
Wisconsin’s state budget will be nearly $1.8 billion in the red by mid-2017 based on a new estimate Monday, providing Democrats with more fodder to argue that Gov. Scott Walker and Republicans in control of the Legislature have mismanaged the state’s finances.
The mayor of Minneapolis hopes hiring four additional 911 operators will mean more consistent response times. Mayor Betsy Hodges says 911 calls are answered, on average, within 6 or 7 seconds.
Minneapolis Mayor Betsy Hodges unveiled Thursday her 2015 budget proposal for the city. She said her first budget focuses on equity, growth and running the city well. It also includes a property tax increase and a $3.5 million proposal to fund the Nicollet Mall redesign.
Republican candidate for governor Marty Seifert says lawmakers should consider tapping the state’s rainy-day budget reserve for a road-construction infusion. Seifert said Friday that pulling from the reserve would be one option he’d use to address a backlog of road and bridge needs. He’s opposed to raising new revenue through taxes and fees.
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Minnesota finance officials are releasing the latest details on state tax collections after a few months of disappointing figures. The quarterly update due Thursday covers revenue for April, May and June.
Minnesota’s defense against future budget shortfalls is a bit sturdier. State finance officials said Tuesday they deposited $150 million more into Minnesota government’s main rainy-day account.
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Political calculations are complicating consideration of a public works financing package. It’s a marquee bill being closely watched from water-starved Worthington to the campgrounds-in-waiting at the new Lake Vermilion State Park.
Gov. Mark Dayton says he’s willing to devote another $100 million of a budget surplus to spending on pressing needs above his previous proposal. Dayton said Thursday he made the offer to top lawmakers “in the spirit of accommodation.”
Minnesota senators are set to vote on a spending plan that devotes more money to preschool programs, financial aid for college students and allowances for caregivers for the disabled and elderly. The plan to be debated Tuesday would draw the money from the remaining state budget surplus.
The Minnesota House has approved a budget plan that would spend another $322 million of the state’s surplus. Debate went late into the night Thursday as lawmakers, mostly minority Republicans, offered some 40 amendments.
Minnesota’s Democratic-controlled House is considering a budget that spends another $322 million of the state’s surplus. Before discussion of the package began on Thursday, DFL leaders touted increased money for K-12 schools, caregivers for the elderly and disabled and roads battered by winter.
Caregivers for the elderly and disabled scored a major victory Monday when lawmakers from both parties in the Minnesota House and Senate committed to a 5 percent state rate increase aimed at preserving quality care for more than 92,000 people.
Officials with Minnesota’s new health insurance marketplace say their preliminary budget for 2015 will be balanced without seeking new federal or state money. MNsure Interim CEO Scott Leitz told reporters Wednesday that the proposed $39.8 million budget for next year is based on the assumption that the federal government will let the exchange carry over $5 million in federal grants that have already been awarded but not spent.
This year it’s not a matter of if there will be tax cuts for Minnesotans; the only question is by how much. Lawmakers are busy coming up with ways to use the state’s billion-dollar-plus surplus. Minnesota’s economy this election year is generating the kinds of jobs and tax revenues not seen in years.
A tantalizing Minnesota budget surplus has stirred talk of tax cuts or funding bumps for prized programs and infrastructure upgrades, but a less-flashy option also has gained some currency: saving some to prepare for the next economic downturn.