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| Date: | December 1, 2011 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-296-5712 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| Senator Michelle Benson Statement on Projected Budget Surplus |
St. Paul- Minnesota Management & Budget Commissioner Jim Schowalter released the November budget forecast Thursday projecting a surplus of $876 million for the current biennium (Fiscal Years 2012-13). In accordance with current law, the surplus will be used as follows: $255 million to bring the state's cash-flow account back to a total of $350 million and $621 million to bring the state's budget reserves to a total of $648 million. Senator Michelle Benson (R-Ham Lake) gave the following statement in response to the budget forecast.
“The budget forecast numbers are much better than I expected, but politicians and policy makers need to proceed with caution. This is not a big bonus to be spent. We should plan to get our fiscal house in order and wait to see what the February forecast brings,” said Senator Benson. “This is a good opportunity to build breathing room into our cash flow and cushion into our reserves. The economy is still tenuous. Now, more than ever, we need to remain vigilant in our pursuit to restrain government spending and support policy that encourages private sector growth. Today’s good news is an indication that we are on the right track and our continued efforts will keep Minnesota on that path back to prosperity.”
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