Minnesota budget grows from thousands to billions

Here is a look at General Fund budget growth for Minnesota’s two-year budget over the years:

1962-63: $638,623

1964-65: $770,420

1966-67: $959,558

1968-69: $1.4 billion

1970-71: $2 billion

1972-73: $2.8 billion

1974-75: $3.5 billion

1976-77: $4.9 billion

1978-79: $6.2 billion

1980-81: $7.2 billion

1982-83: $8.3 billion

1984-85: $9.8 billion

1986-87: $10.3 billion

1988-89: $11.5 billion

1990-91: $13.6 billion

1992-93: $14.5 billion

1994-95: $16.7 billion

1996-97: $18.6 billion

1998-99: $21.2 billion

2000-01: $24.2 billion

2002-03: $26.6 billion

2004-05: $28.1 billion

2006-07: $31.5 billion

2008-09: $33.9 billion

2010-11: $30 billion

2012-13: $35 billion

Notes:

• Six months remain in the 2012-13 budget, so that figure is estimated.

• The upcoming Legislature will debate the 2014-15 budget, but current projections say nearly $37 billion of revenue will be available under current law.

• The state General Fund receives revenues from major state general taxes such as income and sales and is in the spotlight during budget debates.

• The all-funds budget, projected to be nearly $64 billion in the next two years, includes the General Fund and specialized revenue such as transportation-related taxes.

Source: Minnesota Management and Budget

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