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| Date: | March 1, 2012 | | Contact Name: | Susan Closmore | | Contact Phone: | 651-296-5712 | | Contact Email: | susan.closmore@senate.mn | | For Immediate Release | |
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| ASSISTANT MAJORITY LEADER TED LILLIE STATEMENT ON FEBRUARY FORECAST |
St. Paul- Minnesota Management and Budget Commissioner Jim Schowalter announced Wednesday that the February economic forecast shows a budget balance surplus of $323 million for the current biennium (Fiscal Years 2012-13). In accordance with current law, $5 million of that positive balance will be used to restore the state’s budget reserve and the remainder, $318 million, will be used to pay back half of the school shift borrowed last year to balance the state budget. Assistant Majority Leader Ted Lillie (R-Lake Elmo) gave the following statement in response to the February forecast.
“This is good news for Minnesota. The February forecast shows Minnesota in the black after just one year of Republican leadership in the legislature. I’m thrilled that we’ve restored our cash-flow account and our budget reserves and can begin to pay back the school shift. The measures we took over the past year to right size government, promote private sector job creation and set Minnesota on the path to prosperity are working,” said Senator Lillie. “Now is not the time to rest on our laurels, rather, now is the time to double down on our efforts to continue making Minnesota a great place to raise a family and start and grow a business.”
