$2.8B Debt to Minnesota's Schools: Paid in Full

Additional $1.086 billion surplus allows full repayment of school funds

Hometown Source | December 5, 2013

NEWS RELEASE — St. Paul, MN – After years of borrowing, all of the $2.8 billion that was borrowed from Minnesota schools has been repaid due to the budget surpluses generated by Minnesota’s growing economy.

A new economic forecast released today (Thursday, Dec. 5) by the Minnesota Department of Management and Budget (MMB) shows that the additional $1.086 billion surplus projected for the current biennium will permit the immediate repayment of the final $246 million, still owed our schools. [Read More]

Economic rebound lifts state budget surplus to $1.08 billion

StarTribune | December 5, 2013

Minnesota's rebounding economy has brought the state a $1.08 billion surplus for the remainder of the two year budget cycle, according to a new state economic forecast.

That's good news for state leaders, who had pinned their hopes on the state steadily pulling itself out of the worst financial downturn since the Great Depression.

Gov. Mark Dayton said that he will not make any final decisions until he sees an updated forecast next year but if the state has extra money, he wants to cut new business to business taxes and give the middle class a tax break. [Read More]

VIDEO: Governor Dayton talks higher ed at Winona Sate University


December 6, 2013  |  In the News


Dayton: Use $1B Surplus to Cut Sales, Income Taxes

WDIO.com | December 5, 2013

Gov. Mark Dayton says Minnesota's newly announced $1 billion budget surplus should be used to repeal three controversial planned sales tax increases and for middle class tax relief.

The first $246 million of the budget surplus that state officials announced Thursday goes to settling remaining IOUs to schools. That leaves $825 million for new tax cuts or spending increases.

Dayton says at a Capitol news conference that $231 million of the surplus should be used to repeal sales tax hikes on farm equipment repairs, telecommunications supplies and commercial warehousing services that are scheduled to take effect next April 1. He says another $205 million should go to middle class tax cuts. [Read More]

Governor Dayton & Winona State University Students

Governor: Make College Affordable

Winona Daily News | December 4, 2013

How well are Minnesota Colleges and Universities preparing students for successful careers? Minnesota Governor Mark Dayton met with students from Saint Mary's and Winona State University Wednesday on the Winona State campus to talk about what the state is doing to help. [Read More]

Gov. Dayton talks to Winona State students about the future of Minnesota

KAAL TV | December 4, 2013

Governor Mark Dayton was at the Winona State Campus Wednesday afternoon, answering questions from the university's president and from students from all three colleges in the area. They covered a handful of topics but, of course, higher education was on the forefront.

It was a packed house ran mostly by the crowd and since a majority were students, a lot of questions centered around the costs and challenges of higher education.  [Read More]

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