St. Paul – Wednesday, Minnesota Management and Budget released the annual February budget forecast. The forecast indicates another surplus, up $323 million from the November surplus of $876 million. The November forecast was allocated to state reserves last year.
In the eight months since the end of last session after erasing a $5.2 billion deficit, forecasts have indicated a $1.2 billion surplus.
“This is good news,” said Rep. Nornes. “$318 million will be used to start paying back the school shift, and that is a substantial amount. With Minnesota’s decreasing unemployment, and brighter economic outlook, we need to keep our priorities in the forefront. That includes, reforming government so that job creators can stay and grow in Minnesota, and reducing the size of government.”