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Minnesota Economic Forecast Shows A Surplus


ST. PAUL, MN (KDAL) - Many lawmakers were worried about another projected budget shortfall to deal with in advance of the Minnesota economic forecast that was released on Thursday.  But, instead of a deficit, the report shows that the state will see a surplus of 876 million dollars.  Minnesota Management and Budget Commissioner, Jim Schowalter, says the forecast is "obviously good news and a helpful break from recurring budget gaps" that the state has been dealing with lately.  The 2011 fiscal year closed with revenues 358 million dollars higher than expected and expenditures were 205 million below prior estimates and projected revenues for the 2012-13 biennium will be relatively unchanged while projected expenditures will be 348 million less.