abc
QUICK LINKS:

Minnesota Budget Reserve Bumped by $150M

Created: 07/01/2014 2:32 PM WDIO.com

ST. PAUL, Minn. (AP) - Minnesota's defense against future budget shortfalls is a bit sturdier.

State finance officials said Tuesday they deposited $150 million more into Minnesota government's main rainy-day account. It brings the total to $811 million, with more money automatically going into it if there are future surpluses.

With backing from Gov. Mark Dayton, the Legislature approved the set-aside this spring but it didn't take effect until July 1.

Minnesota also as a $350 million cash-flow account that lawmakers have turned to in lean times.

The cushion could help cushion the blow if deficit days return. But the size of the reserve is also important to Wall Street bond houses when they set the state's credit rating, which affects interest rates when the state borrows for construction projects.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Front Page

  • Bentleyville Opening Weekend Draws Large Crowd

      One of the Christmas City of the North's favorite holiday traditions, the Bentleyville Tour of Lights, officially kicked off Saturday night with more than 15,000 visitors. The man behind Bentleyville, and its unofficial "mayor" Nathan Bentley says bringing the holiday light display to Bayfront Festival Park every year is about community...

  • Weekend Anchor Laurie Stribling Says Goodbye

    Weekend Anchor Laurie Stribling had her last show Sunday night. Before she left, we took a look at some of the highlights during her time in the Northland.    

  • Junior League Gives Back Through Festival of Trees

    The Junior League of Duluth helped give back to the community while also lending a hand to local small businesses this weekend. 

  • Alleged Wisc. Bank Robber in St. Louis County Jail

    A man was arrested in Duluth Saturday night after he allegedly robbed a bank in Eau Claire, Wisc. the night before. The Eau Claire Police Department responded to a bank robbery at Wells Fargo Bank in Eau Claire on Friday night.

  • Licenses, Deer Population Down for Wisconsin Deer Opener

    The Wisconsin firearm deer hunting tradition got off to a safe start as Department of Natural Resources officials said they had received no reports of accidental shootings or other injuries by mid-afternoon Sunday on the opener of the state's nine-day gun deer hunt.

 

Freezing Rain Advisory

MN AREAS AFFECTED: Crow Wing; Koochiching; North Cass; North Itasca; Northern Aitkin; South Aitkin; South Cass; South Itasca
Expires: 11/24/2014 6:00 AM

Lake Effect Snow Advisory

WI AREAS AFFECTED: Ashland; Bayfield; Douglas
Expires: 11/25/2014 6:00 AM

Lake Effect Snow Advisory

WI AREAS AFFECTED: Iron
Expires: 11/25/2014 6:00 AM

Lake Effect Snow Advisory

MI AREAS AFFECTED: Gogebic; Ontonagon
Expires: 11/25/2014 7:00 AM

Dense Fog Advisory

MI AREAS AFFECTED: Gogebic; Houghton; Keweenaw; Ontonagon; Southern Houghton
Expires: 11/24/2014 7:00 AM

Advertisement
Advertisement
Advertisement
Advertisement