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Tag Archives: Minnesota Management and Budget Department

Moody’s outlook on Minnesota improves

One of the big three New York bond rating agencies has improved its outlook on the state of Minnesota’s fiscal condition. Moody’s Investors Service revised its view of Minnesota’s financial status to “stable” from “negative,” which had been its view of the state since August of 2001.

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State tax revenue rises in August

State tax collections saw an uptick in August. State finance officials reported today the total revenue haul for the month was $1.22 billion. That was $41 million, or 3.5 percent, more than predicted in February’s economic forecast.

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Minnesota may need to borrow before end of 2010

The state of Minnesota is proceeding with plans to establish a $600 million line of credit to get through the cash-poor months ahead. And while Minnesota Management and Budget Department Commissioner Tom Hanson said on Tuesday that he doesn't want to call on the state's banker to get a short-term loan, he also conceded that his department might need to tap into the state's line of credit with U.S. Bank before the end of 2010.

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