February Budget Forecast Shows Brighter Outlook

Minnesota Management and Budget released the February Budget Forecast with a better financial outlook than the November, 2025 forecast.  

Current biennium is now projected to end with a balance of $3.7 billion, up $1.3 billion from November. The FY 2028-29 balance is now $377 million, but a structural imbalance remains in both biennia. A slightly improved economic outlook drives higher revenue forecast, but federal funding uncertainty presents risk to the spending forecast.