Minnesota Ordinance Adopting the Budget
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Per the US Census Bureau, Minnesota's combined state and local direct general expenditures were $68.6 billion in FY 2021 (the most recent year census data were available), or $12,010 per capita. (Census data exclude ?business-like? activities such as utilities and transfers between state and local governments.)
The $820 million figure will be added to the state's projected surplus for fiscal year 2024-25, which was estimated to be $1.583 billion when enacted in May. The combined surplus is now slightly more than $2.4 billion. Minnesota budget surplus estimate tops $2 billion - KARE 11 kare11.com ? article ? news ? local ? mn-bu... kare11.com ? article ? news ? local ? mn-bu...
Governor Walz releases FY 2024-25 budget priorities In his proposal for the two-year FY 2024-25 budget cycle, Governor Tim Walz proposes $11.2 billion in additional funding for public services, with the largest amount of new dollars going toward education, economic development, and health and human services.
The state constitution requires a balanced budget each biennium. The balanced budget requirement is not stated explicitly in the state constitution. Rather, it derives from the limits on borrowing contained in the constitution. The state may issue debt only for specified purposes.
The budget calls for $61.8 billion in total expenditures in fiscal 2024 (a 6.6 percent increase compared to fiscal 2023) and $59.1 billion in total expenditures in fiscal 2025 (a 4.5 percent decrease compared to fiscal 2024). Minnesota - Nasbo nasbo.org ? resources ? minnesota-budget nasbo.org ? resources ? minnesota-budget
Minnesota's current budget The budget included total spending of $53.7 billion in FY 2022 and $48.6 billion in FY 2023, with $25.4 billion in general fund spending in FY 2022 and $27 billion in FY 2023. Minnesota | Urban Institute urban.org ? projects ? state-fiscal-briefs ? mi... urban.org ? projects ? state-fiscal-briefs ? mi...
The state has a biennial budget. The biennium begins July 1 of each odd-numbered year, and ends June 30 of the next odd-numbered year. The legislature makes the major tax and spending decisions for the biennium in the spring preceding the beginning of the biennium. Each biennium consists of two fiscal years. State Budget Process - MN House Research mn.gov ? hrd ? issinfo ? gvst_sbp mn.gov ? hrd ? issinfo ? gvst_sbp
The One Minnesota Budget invests in everything from agriculture to workforce training to clean energy jobs to make sure Minnesota continues to be competitive in a global economy. The Governor and Lieutenant Governor's plan will ensure that Minnesota is a destination to live, work, and raise a family.