STAFF BLOG CAPITOL CHATTER Good financial news: State deficit shrinks
By Danielle Killey
Minnesotas projected budget deficit for the next two years is lower than expected at $627 million, the Minnesota Management and Budget reported this morning.
Legislators and Gov. ... Posted on 2/28/13 at 10:29 AM
NEW PLATEAUS Hmm, Maybe Canada Really is on Top of the U.S.
When I was a boy, the Cannuck currency was 2/3 that of America's. I remembered the ratio by comparing it to the ratio of kilometers to miles. And though it was still cool to have Canadian coins (money... Posted on 7/17/12 at 3:26 PM
According to a preliminary budget, Alexandria Public Schools faces a $2.1 million budget shortfall for fiscal year 2012-2013.
The district plans to start trimming non-personnel budget items – things like textbooks, supplies, technology, summer school and activities – and, in doing so, eliminate $780,000.
It’s a start, but there’s $1.3 million more to cut.
Minnesota Gov. Mark Dayton’s speeches these days contain one sure-fire applause line: “We’re not Wisconsin.”
That is true, and Minnesotans appreciate the fact that thousands of protesters have not descended on their Capitol. But by at least one measure, Minnesota is worse than its eastern neighbor.
We recently learned the November state budget forecast calls for a $6.2
billion shortfall in 2012-13 – a clear call that like families, small
businesses and local government, state government will also have to
reduce and reform spending to balance its budget.
Minnesota cities and schools will not need to help plug a state budget gap this month, but the state faces a major budget deficit as lawmakers prepare to decide on spending and revenue for the next two years.
The final week of the 2010 legislative session begins this morning with Democratic leaders unveiling their plan to balance a nearly $3 billion budget deficit, much of it left by last week's Minnesota Supreme Court ruling that threw out Gov. Tim Pawlenty's 2009 budget cuts.
The deficit now is expected to be $4.57 billion in the two years beginning July 1 – out of a $33 billion budget – instead of the previously predicted $4.85 billion. Without the federally approved economic recovery money, however, the deficit would be $6.4 billion, according to budget documents leaked to reporters before this morning's official announcement.
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