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Not really a surplus

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Minnesota finance officials Wednesday announced the state has $323 million more than expected in the current two-year budget.

However, that money already is committed under current law:

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E $5 million must go to help restore the budget reserve.

E $318 million is due schools to help repay $2.7 billion the sta te borrowed from them.

Also, the state faces a deficit of more than $4 billion in the two years beginning July 1, 2013. More than half of that will be remaining money due to schools.

Source: Minnesota Management and Budget

Minnesota finance officials Wednesday announced the state has $323 million more than expected in the current two-year budget.

However, that money already is committed under current law:

- $5 million must go to help restore the budget reserve.

- $318 million is due schools to help repay $2.7 billion the sta te borrowed from them.

Also, the state faces a deficit of more than $4 billion in the two years beginning July 1, 2013. More than half of that will be remaining money due to schools.

Source: Minnesota Management and Budget

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