An updated statewide budget forecast was released this morning by Minnesota Management and Budget (MMB), providing the most up-to-date picture of the state’s finances. The forecast projects a $1.65 billion budget surplus, up from a projected $1.4 billion surplus in November. As legislators begin to assemble the state budget for the next biennium, Minnesota’s education system will be at the forefront.

“I am glad to see the projected budget surplus is continuing to grow. However, we must proceed with caution given the numerous unknowns that may await our economy,” said Sen. Carla Nelson (R-Rochester), chairwoman of the Senate E-12 Finance Committee. “Education is the great equalizer. In a significant sense, education is the moral, racial, and economic issue of the day, and investing in our future means investing in education. Our state’s resources should be focused on providing opportunities for all Minnesota students to receive a world class education that prepares them for the jobs of tomorrow.”

Minnesota is home to a significant workforce shortage across many parts of the state. In many communities, job openings outnumber the qualified workforce. As a result, it is more important than ever to ensure a skilled, educated, and motivated workforce.

“Minnesota is fortunate to be home to some of the best and brightest students in the country. Our future depends on a steady, well-educated workforce. In developing the budget, we will be focusing on which programs are yielding results and which programs are not,” Sen. Nelson continued. “From there, we will be able to develop a spending plan that puts money both into the classroom and into programs that work.”

Specific details regarding budget proposals will be made available over the next several weeks.

Sen. Nelson is in her third term representing Senate District 26, which includes communities in Olmsted County. She also serves as chairwoman of the Senate E-12 Finance Committee.