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Budget Forecast

Budget Forecast

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Published by jennifer_brooks3458

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Published by: jennifer_brooks3458 on Dec 05, 2012
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12/05/2012

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MinnesotaBudget Forecast
November 2012
Released December 5, 2012
 
Forecast Summary
$1.1 Billion shortfall remains for FY 2014-15
$1.3 Billion balance for FY 2012-13automatically allocated to school shift buyback
One-time revenue gains in FY 2012-13 do notcontinue into FY 2014-15
Fiscal Cliff creates major uncertainty
 
Higher Revenues, Lower Spending Create$1.330 Billion Balance in FY 2012-13
($ in millions)November Forecast$Change
Beginning Balance $1,289 $0
Revenues 34,944 1,076Spending 33,898 (262)Reserves 988 26Stadium Reserve 16 (18)
Forecast Balance $1,330 $1,330
School Shift Buyback 1,324Residual to Reserves
 
6
Available Balance $0

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