Minnesota raising $75 million for technology
The Minnesota Management and Budget Department says the money will pay to replace the state’s 14-year-old accounting system and complete an integrated system to improve tax collections.
View ArticleLawsuit fallout could add to state’s cash crunch
Ramsey County District Chief Judge Kathleen Gearin's Dec. 30 order invalidating a $5.3-million human services cut made unilaterally by the Republican governor isn't taking center stage at the...
View ArticleState scrambles for fixes as cash-flow crisis approaches
State finance officials again told a legislative panel on Wednesday that Minnesota may need to borrow money as early as this spring simply to keep the state's cash flow in the black.
View ArticleCash-flow crisis roadshow visits House joint committee hearing
Last Thursday the state issued a request for proposals (RFP) for a loan or line of credit of $600 million to shore up Minnesota's finances. The deadline for those proposals is February 25.
View ArticleCash-flow crisis roadshow visits House joint committee hearing
Since last fall, top officials at Minnesota Management and Budget have been warning that Minnesota’s sinking general fund balance could force the state into short-term borrowing merely to keep current...
View ArticleMinnesota finance officials are shooting for August bond sale as credit...
While the nation's capital markets are still not for the faint of heart, the investment environment appears to have improved ahead of the state's planned bond sale on Aug. 3 than it was during the bond...
View ArticleCash flow: State could have to start borrowing as early as this fall
Though Minnesota has managed so far to avoid borrowing to meet the state's day-to-day payment obligations, its good luck (and capacity for fiscal manipulation) is likely to run out before the end of...
View ArticleKathy Kardell to leave Minnesota Management and Budget
Kathy Kardell, the assistant commissioner for treasury at the Minnesota Department of Management and Budget, is leaving the agency to take a new job with Hennepin County.
View ArticleMMB hires Kristin Hanson to run treasury operations
The Minnesota Department of Management and Budget has hired public finance advisor Kristin Hanson as the new assistant commissioner for debt management and treasury.
View ArticleA fix, and maybe a fight, on stadium bonds
Planners for a new Vikings stadium may have come up with a solution for one part of the financing puzzle — one that improves the stadium’s opportunities in the bond market but also may threaten new...
View Article
