Minnesota Fiscal Statistics

StatisNostics/State Financials/Minnesota

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20122022

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State Revenue Analysis (Minnesota: 2012–2022)

Population: 5,380,615 → 5,657,342 (5.1% change)

Overall Revenue Trends

Total Revenue▲ 79.7%

$35,734,171,000 (2012)→$64,209,365,000 (2022)

Per Capita Revenue▲ 70.9%

$6,641 (2012)→$11,350 (2022)

Fund Balances▼ 100%

$13,182,954,000 (2012)→$0 (2022)

Revenue Volatility✓ Low

Avg. fluctuation: 6.7%

Major Tax Revenue

Property Tax▼ 4.2%

$807,700,000 (2012)→$773,877,000 (2022)

Sales Tax▲ 47.5%

$4,942,140,000 (2012)→$7,287,411,000 (2022)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Transit Utilities Revenue▲ 368177.8%

$9,000→$33,145,000

Public Utilities Tax▲ 178014.3%

$49,000→$87,276,000

Public Utility License Tax▲ 5226.3%

$137,000→$7,297,000

Declining/Slowest Growing Sources

Rents▼ 99.2%

$3,550,000→$27,000

Education Other State Charges Not Elsewhere Classified▼ 97.9%

$70,349,000→$1,498,000

Federal Intergovernmental Other Natural Resources▼ 52.7%

$95,244,000→$45,013,000

Revenue Forecast

Projected Revenue (Next Year)▲ 15.8%

Estimated: $74,377,439,673

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

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%

2022 Revenue Breakdown

Individual Income Tax23.6%

Federal Intergovernmental Public Welfare17.5%

Total General Sales Taxes11.3%

Corporation Net Income Tax7.4%

Federal Intergovernmental Health & Hospitals6.0%

Unemployment - Contribution5.5%

Federal Intergovernmental Education4.9%

Other Selective Sales Taxes3.4%

Higher Education Tuition Charges2.0%

Miscellaneous General Revenue Not Elsewhere Classified1.8%

Motor Vehicle License1.4%

Motor Fuels Sales Tax1.4%

Federal Intergovernmental Highways1.4%

Property Tax1.2%

Insurance Premium Tax1.1%

Donations From Private Sources1.1%

Federal Intergovernmental Other1.1%

Higher Education Auxiliary Charges1.0%

Tobacco Sales Tax1.0%

Documentary & Stock Transfer Tax0.6%

Interest Earnings0.6%

Sewerage Charges0.5%

All Other Not Elsewhere Classified Charges0.4%

Occupation & Business License Not Elsewhere Classified0.4%

Hospital Charges0.4%

Death & Gift Tax0.3%

Amusement Tax0.3%

Net Lottery Revenue0.3%

Alcoholic Beverage Sales Tax0.2%

Severance Tax0.2%

Hunting & Fishing License0.2%

Local Intergovernmental Public Welfare0.1%

Public Utilities Tax0.1%

Other License Tax0.1%

Federal Intergovernmental Employment Security Administration0.1%

Workers Compensation - Other Contributions0.1%

Local Intergovernmental Highways0.1%

Federal Intergovernmental Air Transportation0.1%

Fines & Forfeits0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Motor Vehicle Operators License0.1%

Parks & Recreation Charges0.1%

Local Intergovernmental Education0.1%

Royalties0.1%

Federal Intergovernmental Other Natural Resources0.1%

Transit Utilities Revenue0.1%

Federal Intergovernmental Housing & Community Development0.0%

Sale of Property0.0%

Federal Intergovernmental Sewerage0.0%

Housing & Community Development Charges0.0%

Corporation License Tax0.0%

Regular Highway Charges0.0%

Local Intergovernmental Other0.0%

Amusement License Tax0.0%

Public Utility License Tax0.0%

Alcoholic Beverage License Tax0.0%

Unemployment - Interest Revenue0.0%

Parimutuels Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Toll Highway Charges0.0%

Air Transportation Charges0.0%

Local Intergovernmental Health & Hospitals0.0%

Rents0.0%

Key Insights

1Total revenue increased by 79.7% from 2012 to 2022, representing a significant change in the state's financial position.
2Population changed by 5.1%, while per-capita revenue changed by 70.9%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Minnesota: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 275%

$8,754,309,000→$32,870,885,000

Per Capita Spending▲ 257%

$1,627→$5,810

Population Trends

Population Change▲ 5.1%

5,380,615 (2012)→5,657,342 (2022)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 76%

$254,499,000 (2012)→$447,973,000 (2022)

Fire Protection▼ 0%

$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 54%

$511,731,000 (2012)→$785,908,000 (2022)

Sewerage Operations▼ 0%

$0 (2012)→$100,338,000 (2022)

Administrative Expenses

Financial Administration▲ 324%

$305,678,000 (2012)→$1,295,115,000 (2022)

General Expenses▲ 41%

$308,483,000 (2012)→$434,292,000 (2022)

Minnesota Key Insights

1Per capita expenditures grew by 257%, indicating substantial service expansion or cost increases not explained by population growth alone
2Financial Administration was the fastest growing major expense category at 324% increase

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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 59%

$11,060,044,000 (2012)→$17,535,855,000 (2022)

Industrial Revenue Debt▼ 100%

$2,164,410,000 (2012)→$0 (2022)

Per Capita Debt▲ 51%

$2,056 (2012)→$3,100 (2022)

Population Trends

Population Change▲ 5.1%

5,380,615 (2012)→5,657,342 (2022)

Debt Management

Most Recent Year (2022)

Issued:$2,276,808,000

Retired:$1,932,186,000

Net Change:+$344,622,000

Debt Retirement Trend

$1,258,687,000 → $1,932,186,000▲ 54%

🔄 Significant change in retirement strategy detected

Key Insights

1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
2There appears to be a significant shift in debt management strategy between 2012-2022, with a move toward higher debt levels.
3New debt issuance significantly increased the per-resident debt burden (up 51%).