MN Officials Predict $1 Billion Surplus

Updated: 12/05/2013 11:47 AM
Created: 12/05/2013 10:52 AM KSTP.com

ST. PAUL, MN (AP) - Minnesota finance officials are predicting a state budget surplus of more than $1 billion.
That estimate released Thursday means the state can fully pay the remaining IOUs to public schools that piled up during tougher budget times. And it leaves $825 million left for lawmakers to work with during their election-year session.
The Department of Minnesota Management and Budget's comprehensive review of tax-and-spending patterns will help set expectations for the session that starts in February.
The report has an immediate impact for schools, which will receive $246 million in payments that had been previously deferred. The state is also replenishing an airport account from which lawmakers diverted $15 million five years ago.

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