SAINT PAUL, Minn.— Minnesota Management and Budget presented the financial future of Minnesota today with a budget and economic forecast projecting a positive balance of $641 million for the FY 2020-21 biennium.
In response, Senator Melisa Franzen, DFL-Edina, released the following statement:
“The budget balance announced today is welcomed news in the short-term, but in the long-term, we need to be cautious considering we face a $1.273 billion budgetary shortfall in the future FY 2022-23 biennium. During these unprecedented times, challenges remain. We must work to ensure fiscal stability in the upcoming biennium by committing to getting Minnesota’s budget back on track. It will take all of us working together in the upcoming legislative session to rebuild and recover from COVID-19.”