$876M Balance Projected- An Early Christmas gift perhaps?
The November forecast, released today by Minnesota Management and Budget (MMB), projects the state to have a year end surplus of $876 million. How will the surplus be used? State statute requires the surplus to restore the cash flow account and reserves. While the February forecast will determine the budget for 2012, today's announcement is welcome albeit unexpected news. After four years of deficits and the budget battles that ensued, this positive outlook means that the 2012 legislative session will not be characterized by state shutdowns, major budget shifts or huge funding reductions. Well, here's hoping anyway!
Urge Governor to Support Bonds for Housing - Critical Window Opens Today
As part of the November forecast, MMB also releases the projected debt capacity for 2012 which sets the stage for the size of the 2012 bonding bill. As a result, the Governor is finalizing his list of bonding recommendations and we have less than three weeks to raise the importance and urgency of housing. He needs to hear from you so housing is not left out of the bonding package like it was last year.