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:
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.
ADVERTISEMENT
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
