Published on
December 22, 2020
- 20:24 GMT
December Internal Controls Bulletin
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
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Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Net general fund revenues totaled $1.671B in November, $50M (3.1%) more than forecast. Higher than expected sales & corporate tax revenue more than offset individual income & other tax receipts that were less than expected. Note: All results are …
Minnesota’s economic and budget outlook have improved since May, when we released a budget projection just as the COVID-19 pandemic was taking hold. With this forecast, higher general fund revenues and lower expected spending result in a projected surplus …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Net general fund revenues totaled $1.960 billion in October 2020, $212 million (12.2 percent) more than projected in May. Receipts from the net individual income, sales, and corporate taxes were greater than projected, more than offsetting lower than …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Budget Reserve Recommendation. To adequately manage the underlying risks in Minnesota’s general fund tax revenue system, Minnesota Management and Budget (MMB), in accordance with Minnesota Statutes section 16A.152 subd.8, recommends a budget reserve target …
Net general fund revenues totaled $1.571 billion in August, $202 million (14.8 percent) more than projected in the May Interim Budget Projection. Net individual income, sales, and corporate tax revenues exceeded the projection, and other tax revenues were …
ST. PAUL, MN—Minnesota Management and Budget (MMB) launched a new report and website detailing expenditures from the Coronavirus Relief Fund (CRF). The report, which was released with a letter from MMB Commissioner Myron Frans, includes a detailed look at …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
ST. PAUL, MN—Today, the State of Minnesota’s $1.2 billion general obligation bond sale received historically low interest rates. The proceeds support capital construction projects such as asset preservation, higher education facilities, highway projects, …
Net general fund revenues totaled $1.332 billion in July, $178 million (15.4 percent) more than projected. Net receipts from all major tax types for the month exceeded the projection. July is the first month of FY 2021, so the fiscal year variance is the …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
In preparation for the August sales, MMB is releasing a revenue update with planning estimates for the 2022-23 biennium. The revenue update confirms the May 2020 Interim Budget Projection, including the projected deficit for the current biennium. Minnesota …
Minnesota net general fund receipts for FY20 are estimated to total $21.798B, $168M (0.8%) more than May’s Interim Budget Projection. Net tax receipts exceeded the projection for income, corporate, and sales taxes, more than offsetting other taxes that …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
Net general fund revenues totaled $1.497 billion in May, $20 million (1.3 percent) less than projected. Net receipts from individual income and sales taxes for the month exceeded the projection, while corporate tax receipts and other revenues were lower …
Minnesota Management and Budget 658 Cedar Street Saint Paul, MN 55155
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