St. Paul, Minn. – Minnesota Management and Budget today announced the state’s expected budgetary balance increased $181 million since the November forecast, leaving Minnesota with a projected positive budget balance of $1.513 billion for the FY 2020-21 biennium. In response, Senator Karla Bigham (DFL-Cottage Grove) released the following statement.
“Most of the $1.513 billion budgetary balance announced today consists of one-time money and does not take into account federal uncertainty and the potential slowdown of economic growth. We need to be careful about any new spending, and we must be careful and cautious to avoid any ongoing spending with this money. For the long-term health of the state’s fiscal stability, we must strike the right balance between strengthening our reserves and any one-time spending.