The most recent revenue collection numbers for the state came out this month and once again they are above projections, Sen. Paul Gazelka, R-Brainerd, said. He said the Minnesota Management and Budget Department (MMB) announced that the net general fund revenues totaled $1.301 billion in May, $32.3 million (2.5 percent) more than forecast. As a result, year-to-date revenues are now $148 million above February’s forecast.
In February of 2012, MMB announced a $1.2 billion budget surplus, which was a $7 billion dollar turnaround from the $6.2 billion budget deficit of November 2010.
Gazelka said May’s revenue collection numbers confirm that the approach of fiscal responsibility and sensible government works for Minnesota.