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With Surplus, Minn. Lawmakers Ponder Reserves Bump

Created: 02/27/2014 11:22 AM KSTP.com

A tantalizing Minnesota budget surplus has stirred talk of tax cuts and more spending on prized programs or infrastructure upgrades.
    
But there's also a call for some quarters to save a chunk of the money to cope with the next downturn.
    
Lawmakers learn Friday how big of a surplus they have to work with when the Department of Minnesota Management and Budget issues its latest economic forecast.
    
In December, finance officials projected an $825 million surplus. The welcome breathing room comes after a string of deficits triggered budget cuts, tax increases and drawdowns in rainy day accounts.
    
When fully stocked - as they are now - Minnesota's savings and checking account balances combine to reach $1 billion. The maximum reserve amount hasn't risen in more than a decade.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Photo: KSTP/File

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