Minnesota Fiscal Statistics

StatisNostics/State Financials/Minnesota
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20122021
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State Revenue Analysis (Minnesota: 2012–2021)

Population: 5,380,615 → 5,639,632 (4.8% change)

Overall Revenue Trends

Total Revenue▲ 51%
$35,734,171,000 (2012)→$53,964,103,000 (2021)
Per Capita Revenue▲ 44.1%
$6,641 (2012)→$9,569 (2021)
Fund Balances▲ 152.4%
$13,182,954,000 (2012)→$33,273,747,000 (2021)
Revenue Volatility✓ Low
Avg. fluctuation: 5.3%

Major Tax Revenue

Property Tax▲ 0.2%
$807,700,000 (2012)→$809,160,000 (2021)
Sales Tax▲ 35.5%
$4,942,140,000 (2012)→$6,698,560,000 (2021)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Transit Utilities Revenue▲ 500300.0%
$9,000→$45,036,000
Public Utilities Tax▲ 194598.0%
$49,000→$95,402,000
Public Utility License Tax▲ 5425.5%
$137,000→$7,570,000

Declining/Slowest Growing Sources

Rents▼ 99.2%
$3,550,000→$28,000
Education Other State Charges Not Elsewhere Classified▼ 98.3%
$70,349,000→$1,209,000
Toll Highway Charges▼ 86.9%
$2,902,000→$380,000

Revenue Forecast

Projected Revenue (Next Year)▲ 7.8%
Estimated: $58,169,824,957
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Individual Income Tax22.4%
Federal Intergovernmental Public Welfare17.9%
Total General Sales Taxes13.8%
Other Selective Sales Taxes6.8%
Federal Intergovernmental Education4.0%
Unemployment - Contribution3.8%
Higher Education Tuition Charges3.4%
Corporation Net Income Tax3.0%
Motor Fuels Sales Tax2.4%
Property Tax2.3%
Motor Vehicle License1.8%
Donations From Private Sources1.7%
Federal Intergovernmental Highways1.7%
Higher Education Auxiliary Charges1.7%
Miscellaneous General Revenue Not Elsewhere Classified1.6%
Tobacco Sales Tax1.2%
Occupation & Business License Not Elsewhere Classified1.0%
Insurance Premium Tax1.0%
Federal Intergovernmental Other0.9%
Federal Intergovernmental Health & Hospitals0.9%
Hospital Charges0.8%
All Other Not Elsewhere Classified Charges0.8%
Interest Earnings0.8%
Death & Gift Tax0.5%
Documentary & Stock Transfer Tax0.4%
Net Lottery Revenue0.4%
Federal Intergovernmental Other Natural Resources0.3%
Federal Intergovernmental Employment Security Administration0.3%
Workers Compensation - Other Contributions0.2%
Alcoholic Beverage Sales Tax0.2%
Other License Tax0.2%
Education Other State Charges Not Elsewhere Classified0.2%
Local Intergovernmental Public Welfare0.2%
Hunting & Fishing License0.2%
Royalties0.1%
Federal Intergovernmental Air Transportation0.1%
Federal Intergovernmental Housing & Community Development0.1%
Severance Tax0.1%
Motor Vehicle Operators License0.1%
Fines & Forfeits0.1%
Amusement Tax0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Local Intergovernmental Highways0.1%
Federal Intergovernmental Sewerage0.1%
Parks & Recreation Charges0.1%
Federal Intergovernmental Water Utilities0.0%
Housing & Community Development Charges0.0%
Local Intergovernmental Education0.0%
Local Intergovernmental Other0.0%
Corporation License Tax0.0%
Rents0.0%
Federal Intergovernmental Transit Utilities0.0%
Toll Highway Charges0.0%
Alcoholic Beverage License Tax0.0%
Air Transportation Charges0.0%
Amusement License Tax0.0%
Unemployment - Interest Revenue0.0%
Parimutuels Tax0.0%
Workers Compensation - Interest Earnings0.0%
Regular Highway Charges0.0%
Public Utility License Tax0.0%
Local Intergovernmental Transit Utilities0.0%
Public Utilities Tax0.0%
Transit Utilities Revenue0.0%

2021 Revenue Sources

Individual Income Tax28.1%
Federal Intergovernmental Public Welfare17.1%
Total General Sales Taxes12.4%
Federal Intergovernmental Health & Hospitals4.8%
Corporation Net Income Tax4.5%
Other Selective Sales Taxes3.8%
Federal Intergovernmental Education3.8%
Miscellaneous General Revenue Not Elsewhere Classified2.6%
Higher Education Tuition Charges2.5%
Motor Vehicle License1.8%
Federal Intergovernmental Highways1.7%
Motor Fuels Sales Tax1.6%
Property Tax1.5%
Donations From Private Sources1.5%
Unemployment - Contribution1.4%
Insurance Premium Tax1.2%
Tobacco Sales Tax1.2%
Higher Education Auxiliary Charges1.0%
Federal Intergovernmental Other0.9%
Documentary & Stock Transfer Tax0.8%
Interest Earnings0.6%
Sewerage Charges0.6%
Occupation & Business License Not Elsewhere Classified0.5%
All Other Not Elsewhere Classified Charges0.5%
Net Lottery Revenue0.4%
Hospital Charges0.4%
Death & Gift Tax0.4%
Amusement Tax0.2%
Hunting & Fishing License0.2%
Alcoholic Beverage Sales Tax0.2%
Local Intergovernmental Public Welfare0.2%
Public Utilities Tax0.2%
Other License Tax0.2%
Federal Intergovernmental Employment Security Administration0.2%
Severance Tax0.1%
Workers Compensation - Other Contributions0.1%
Motor Vehicle Operators License0.1%
Federal Intergovernmental Air Transportation0.1%
Federal Intergovernmental Other Natural Resources0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Federal Intergovernmental Transit Utilities0.1%
Transit Utilities Revenue0.1%
Parks & Recreation Charges0.1%
Royalties0.1%
Fines & Forfeits0.1%
Local Intergovernmental Highways0.1%
Federal Intergovernmental Housing & Community Development0.1%
Local Intergovernmental Education0.1%
Housing & Community Development Charges0.0%
Sale of Property0.0%
Federal Intergovernmental Sewerage0.0%
Corporation License Tax0.0%
Federal Intergovernmental Water Utilities0.0%
Local Intergovernmental Other0.0%
Regular Highway Charges0.0%
Public Utility License Tax0.0%
Amusement License Tax0.0%
Alcoholic Beverage License Tax0.0%
Parimutuels Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Air Transportation Charges0.0%
Toll Highway Charges0.0%
Unemployment - Interest Revenue0.0%
Local Intergovernmental Transit Utilities0.0%
Rents0.0%

Key Insights

  1. 1Total revenue increased by 51% from 2012 to 2021, representing a significant change in the state's financial position.
  2. 2Population changed by 4.8%, while per-capita revenue changed by 44.1%.
  3. 3The state's fund balances increased by 152.4%, suggesting improved fiscal health.
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State Expense Analysis (Minnesota: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 66%
$8,754,309,000→$14,523,660,000
Per Capita Spending▲ 58%
$1,627→$2,575

Population Trends

Population Change▲ 4.8%
5,380,615 (2012)→5,639,632 (2021)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 76%
$0 (2012)→$0 (2021)
Fire Protection▼ 0%
$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 49%
$0 (2012)→$0 (2021)
Sewerage Operations▼ 0%
$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 299%
$0 (2012)→$0 (2021)
General Expenses▲ 68%
$0 (2012)→$0 (2021)

Minnesota Key Insights

  1. 1Per capita expenditures grew by 58%, indicating substantial service expansion or cost increases not explained by population growth alone
  2. 2Financial Administration was the fastest growing major expense category at 299% increase
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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 18%
$11,060,044,000 (2012)→$13,078,556,000 (2021)
Industrial Revenue Debt▲ 50%
$2,164,410,000 (2012)→$3,240,739,000 (2021)
Per Capita Debt▲ 13%
$2,056 (2012)→$2,319 (2021)

Population Trends

Population Change▲ 4.8%
5,380,615 (2012)→5,639,632 (2021)

Debt Management

Most Recent Year (2021)

Issued:$1,680,373,000
Retired:$1,977,898,000
Net Change:$-297,525,000

Debt Retirement Trend

$1,258,687,000 → $1,977,898,000▲ 57%
🔄 Significant change in retirement strategy detected

Key Insights

  1. 1There appears to be a significant shift in debt management strategy between 2012-2021, with a move toward higher debt levels.