The Minnesota state budget
Where the general fund's money comes from and where it goes, transcribed from the state's own February 2026 Budget and Economic Forecast. The general fund is the budget the Legislature fights over; it excludes dedicated funds like the gas tax and most federal money that passes through agencies.
The headline numbers
The FY2026-27 biennium at a glance, per the February 2026 forecast.
Current resources the general fund takes in over the two-year budget (July 2025 through June 2027).
Total expenditures and transfers. Spending above current revenues is covered by balances carried forward.
Budgetary balance projected for the end of FY2027, after reserves are set aside.
Budget reserve plus the cash flow account, held apart from the projected balance.
Where the money comes from
General fund revenues by source for the FY2026-27 biennium. Three taxes carry the budget: individual income, sales, and corporate income together are about 85 percent of it.
Nondedicated revenues plus transfers, from the forecast's “Estimates of Nondedicated Revenues” table, in the state's own categories. Percentages are shares of total FY2026-27 current resources.
Where it goes
Spending by budget area: the FY2026-27 forecast (dark) against FY2024-25 actuals (light). Schools and health care are about three quarters of the general fund.
The FY2024-25 actuals include one-time spending enacted in 2023, which is why several smaller areas (jobs and commerce, capital projects, state government) drop sharply in the current biennium. Health and human services grows the fastest; the forecast names Medical Assistance, Minnesota's Medicaid program, as the most significant driver.
Does it balance?
Each biennium's current revenues against its total spending. Spending exceeds what comes in; the difference is covered by balances carried forward from earlier surpluses.
*Forecast (FY2026-27) and planning estimates (FY2028-29, shown including the forecast's estimated-inflation line of $1.0 billion). The balance shown is the budgetary balance after the $3.8 billion in reserves.
Sources
Both documents are Minnesota Management and Budget's, released February 27, 2026. Figures are transcribed exactly, in the state's categories; the next forecast (November 2026) supersedes these.