Minnesota FY16-17 Budget Forecast Released
The biennial budget forecast for FY16-17 was released this morning, providing new information and context for the upcoming 2015 legislative session.
From the office of Minnesota Management and Budget, the state now shows a total of $1.037 billion available for the upcoming budget. This includes a carry-over of the $373 million ending balance for FY15. Revenues are forecasted to be up 6.4%, with spending up 4.8%.
Income tax receipts ended FY 2014 ahead of the February forecast, contributing $194 million of the $279 million increase in FY 2014-15 forecast revenues.
The full Budget and Economic Forecast is posted online.
If you have questions specific to the budget forecast, please don't hesitate to contact Paul Cassidy, Andrew Chelseth, Jeremy Estenson, Margaret Van Heel or Suzanna Kennedy. The Government Solutions team at Stinson Leonard Street provides a complete range of services to clients who need to interact with government at all levels, including businesses, trade associations, nonprofits and citizens' groups.