The Big Story Blog

Sources say today's budget forecast reveals surplus

Posted at 9:49 AM on December 1, 2011 by Paul Tosto
Filed under: state budget

Wow.

The Star Tribune is reporting:

In a stunning bit of financial news, Minnesota's economists forecast a budget surplus for the rest of the two-year budget cycle.

According to a well-placed source who has seen the numbers, the economists' forecast the state will have $876 million more than it is predicted to spend for the rest of the biennium.

UPDATE: MPR News reporter Tom Scheck confirms

Two people briefed on budget say there is a surplus of $876m in current budget cycle.
Dec 01 via EchofonFavoriteRetweetReply

Several sources say $876 m will go to pay back state budget reserves. They also say state has budget deficit in the next cycle.
Dec 01 via EchofonFavoriteRetweetReply


About Paul Tosto

Paul Tosto

Paul Tosto writes the Big Story Blog for MPR News. He joined the newsroom in 2008 after more than 20 years reporting on education, politics and the economy for news wires and newspapers across the country.