Surplus or Shortfall? Friday Provides First Look at Budget
ST. PAUL, Minn. (AP) - It's time to start talking cash at the Minnesota Capitol.
Budget officials were preparing to release the state's economic forecast Friday. It provides a critical look at Minnesota's financial standing that will determine whether a Republican-controlled Legislature will have a budget surplus or deficit to work with in 2017.
That number will set the stage for negotiations for a two-year budget between Republicans and Democratic Gov. Mark Dayton. But budget work won't begin in earnest until after state officials release a final update in February.
Dayton says he's expecting a smaller surplus than the $1.2 billion sum they had in 2016. Republican Rep. Jim Knoblach says he's also expecting a surplus.
The Legislature will convene Jan. 3.