Minnesota’s cash situation unknown while lawmakers address remaining deficit
Members of the Legislative Commission on Planning and Fiscal Policy’s Balanced Budget Subcommittee received an update this week from Minnesota Management and Budget, or MMB, about the state’s cash situation. MMB Budget Deputy Commissioner Jim Schowalter told committee members that Minnesota will not have to borrow money to pay its bills this spring, but cash flow shortfalls are still a possibility for later this year. Schowalter said fiscal year 2011 has deep cash problems right now. Click headline for more information.