ST. PAUL, Minn. (AP) — A fresh look at the state’s finances is coming from Minnesota budget officials.
The Department of Minnesota Management and Budget was set Thursday to release its latest economic forecast. The document will show whether the state is expected to run a surplus or face another deficit.
The comprehensive review of tax-and-spending patterns will help set expectations for Minnesota lawmakers when they return for their 2014 session in February.
The report could have an immediate impact for schools. If there is a surplus, public schools will receive aid payments that had been deferred during tougher times at the state. There is at least $225 million, maybe more, owed to schools.
After that, the state must make whole an airport account from which lawmakers diverted $15 million more than five years ago.