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October 25, 2012

Just the Facts, Ma’am – The Budget Surplus

Article, Info Graphic, Legislation, Uncategorized $1.2 billion budget surplus, biennial budget surplus, Minnesota Senate, sen. carla nelson

 

Recently, articles and commentary have made spurious attempts to call into question the validity of the $1.2 billion surplus in our state budget for the current 2012-13 biennium.

Here are the facts:

Don’t just take our word for it. According to the Minnesota Management and Budget’s two most recent budget announcements for 2012-13, from November 2011 and February 2012.  Note that the surpluses described in the two announcements sum up to, when added together, $1.2 billion. This is a turn around from the  $6.2 billion deficit in the November 2010 budget forecast.

Looking Ahead

Also note that Minnesota Management and Budget’s forecast for the upcoming biennium shows a 6% increase in state revenues, amounting to $2 billion.  The February 2012 announcement showed 2012-13 projected revenue of $33.8 billion, and showed 2014-15 projected revenue of $35.8 billion.

So, as we head into our next budget with flush reserves and $2 billion of new money, I am confident we can fund our priorities with no cuts, and make significant progress toward paying back the school shift.  I will also push very hard for the small business tax relief we passed last year which was vetoed by Governor Datyon. The $1.1 billion projected deficit you see is based on the projected growth in spending to $36.8 billion, an increase of $3 Billion or 9%.

As for the talking point that the Republican-controlled legislature “balanced the budget on the backs of education,” nothing could be further from the truth. The DFL-controlled  legislature and then-Gov. Tim Pawlenty borrowed $1.4 billion of one-time money  from our schools.  In addition, the budget compromise with the Governor accepted his $700 million of additional one time money borrowed from our schools.  The good news is that $318 million of that has been repaid and sent back to our schools in July this year. The legislature also passed legislation to send the remaining $382 million back to our schools.  Unfortunately, this was vetoed by DFL Governor Mark Dayton.

As a former teacher I was well aware that a one time delay in  a portion of the funding to schools, was better than a permanent reduction in funding, I knew that the delay in some of the payment could cause schools to face a cash flow problem. That is why I successfully fought to add additional funds to the per pupil formula of $150 per pupil for the biennium   For example, this was nearly $1.8 million of new funding to the Rochester public schools. We will  continue to make significant progress toward paying back the one time money borrowed from schools.

  • For those wanting to learn more you can Click Here to go to my website.

Click here for Minnesota Management and Budget’s two most recent budget announcements for 2012-13.  Note: the surpluses described in the two announcements are additive:

  • MMA November 2011 Budget Summary
  • MMA February 2012 Budget Summary

 

Sen. Carla Nelson
Carla Nelson Endorsed by Minnesota Medical Association MEDPAC Letter Writer to Post-Bulletin: Nelson Protects Minnesota’s Jobs

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