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Operating Budget, FY 2014-15

Minnesota's Budget  

Each odd-numbered year the governor proposes, and the legislature enacts, a two-year  operating budget , often called the Biennial Budget. The budget process for the next biennium begins in July of even-numbered years when Minnesota Management & Budget issues budget instructions to state agencies.

Economic and budget forecasts are issued twice annually in November and February - setting the basis for budget development and legislative actions. The Governor's budget recommendations are released in January of odd-numbered years and the Legislature adopts a final budget during the legislative session.

After the budget is adopted, there are normally five updates per year to state budget data. These releases provide updated information based on:

  • November Budget & Economic Forecast
  • Governors Budget Recommendations (January or February)
  • February Budget & Economic Forecast
  • Revised Governors Budget Recommendations (usually in March)
  • End-of-Session Estimates (usually in May or June)

Even though the budget is enacted for a two-year period,  numbers associated with the budget change with each of these updated budget forecasts, and legislative actions during the normal annual legislative sessions.

       Go to:  FY 2014-15 Operating Budget                   Go to:  2014 Session Capital Budget

Funding for  capital projects  is not included or reported as part of the operating budget. Since capital projects commonly span multiple years, they are primarily funded by issuing state general obligation bonds. Items funded in state capital budgets often include land acquisition, repair, renovation and construction of state facilities. Capital budgets also commonly include grants to local government for repair and construction of schools, parks, bridges and wastewater treatment facilities. Historically, major capital budget bills are considered and approved in even-numbered years.