Minnesota Management And Budget
Minnesota collected nearly 5 percent more in taxes in October than was anticipated. Minnesota Management and Budget said Monday it collected just under $1.7 billion, $75 million more than forecast. Tax collections for the fiscal year, which started in July, are slightly ahead of projections. October marks the second consecutive month that tax collections have come in high in a year where the state’s monthly collections have generally lagged.
The state of Minnesota says it has sold $85.4 million in bonds to pay for a new Senate office building. Minnesota Management and Budget announced the bond sale Tuesday. State officials said earlier they would start on the four-story building near the Capitol within a few days of the sale.
Minnesota finance officials say state tax collections beat expectations for the final three months of the fiscal year. According to the quarterly update released Thursday, state revenues for April, May and June were $235 million more than forecast.
The state of Minnesota is preparing to issue bonds that will cover the public share of the new Vikings stadium. Minnesota Management and Budget issued what’s known as a “request for proposal” on Monday.
Minnesota’s tax revenues for the budget year that ended June 30 came in $463 million ahead of forecast, state officials said Wednesday, and that means more money will be on its way to schools.
The federal government has given Minnesota a $39 million grant to continue developing the health insurance exchange that’s a major part of the Obama administration’s health care overhaul.
Minnesota lawmakers hope to learn more about how the recent fiscal cliff deal that temporarily averted an economic crisis is shaping the economic picture closer to home.
Minnesota budget officials say the state’s economy would be hit hard if President Obama and Congress can’t strike a federal debt deal to avoid the so-called fiscal cliff.
Minnesota’s revenue is doing better than expected in the new budget year after August tax collections beat expectations.
An update Tuesday from Minnesota Management and Budget says net general fund revenues totaled nearly $2.5 billion in February and March, which was $106 million or 4.4 percent better than forecast in February.
The state of Minnesota has started a new website looking ahead to a possible government shutdown next month.
State tax collectors did better than expected last month as individual taxpayers withheld and paid more income taxes.