January tax collections below forecast
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
Minnesota Management and Budget says general fund revenues were $107 million below forecast in January. The agency says revenues are $45.5 million less than forecast for the fiscal year that runs from July 1 to June 30. The latest revenue forecast details the state's tax collections for the past month.
The revenues, however, are only a portion of the state's overall financial picture. The unknown piece is how spending is tracking. The December budget forecast said Minnesota had an $876 million surplus for the current two-year budget cycle.
Gov. Dayton and the Republican-controlled Legislature are waiting for the Feb. 29 budget forecast to determine if they'll need to address any budgetary and spending decisions in the current session.
Here's the document from MMB:
January 2012 Revenue Collections Memo (2)
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.
Dear reader,
Your voice matters. And we want to hear it.
Will you help shape the future of Minnesota Public Radio by taking our short Listener Survey?
It only takes a few minutes, and your input helps us serve you better—whether it’s news, culture, or the conversations that matter most to Minnesotans.
