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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 Carla Nelson 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 Carla Nelson (R-Rochester) gave the following statement in response to the budget forecast release.
“The November budget forecast released today is great news. It is an indication that our efforts to restrain government spending and encourage private sector growth helped put us on the right path. Today’s forecast gives us room in the upcoming session to plan for sustainable economic growth through much needed government reform,” said Senator Nelson. “That being said, we will not rest on our laurels – there is a lot to be done. The economic situation in this state and in this nation is still fragile. I will continue seeking out ways we can increase transparency and efficiency in government to protect taxpayers and ensure economic prosperity for Minnesota for years to come.”
