Updated MN Budget Forecast Show Nearly $7.75 Billion Surplus

Minnesota Officials have released an updated budget forecast showing further improvements and setting the stage for the 2022 legislative session to the tune of a $7.746 billion surplus.

The Minnesota Department of Management and Budget said Tuesday morning that “strong growth in income, consumer spending and corporate profits drove extraordinary revenue growth.”

The forecast will trigger a statutory allocation to the budget reserve, leaving that balance now at $2.656 billion.