Minnesota Fiscal Statistics

StatisNostics/State Financials/Minnesota

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20122023

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State Revenue Analysis (Minnesota: 2012–2023)

Population: 5,380,615 → 5,707,390 (6.1% change)

Overall Revenue Trends

Total Revenue▲ 71.1%

$35,734,171,000 (2012)→$61,128,368,000 (2023)

Per Capita Revenue▲ 61.3%

$6,641 (2012)→$10,710 (2023)

Fund Balances▼ 100%

$13,182,954,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 6.5%

Major Tax Revenue

Property Tax▼ 4.1%

$807,700,000 (2012)→$774,847,000 (2023)

Sales Tax▲ 62.2%

$4,942,140,000 (2012)→$8,018,438,000 (2023)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Transit Utilities Revenue▲ 574377.8%

$9,000→$51,703,000

Public Utilities Tax▲ 178498.0%

$49,000→$87,513,000

Regular Highway Charges▲ 7145.3%

$223,000→$16,157,000

Declining/Slowest Growing Sources

Rents▼ 99.1%

$3,550,000→$31,000

Education Other State Charges Not Elsewhere Classified▼ 98.2%

$70,349,000→$1,286,000

Federal Intergovernmental Other Natural Resources▼ 45.7%

$95,244,000→$51,681,000

Revenue Forecast

Projected Revenue (Next Year)▲ 7.1%

Estimated: $65,464,498,784

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%

2023 Revenue Breakdown

Individual Income Tax22.9%

Federal Intergovernmental Public Welfare21.3%

Total General Sales Taxes13.1%

Corporation Net Income Tax7.6%

Federal Intergovernmental Education4.1%

Other Selective Sales Taxes3.8%

Federal Intergovernmental Health & Hospitals3.2%

Higher Education Tuition Charges2.2%

Miscellaneous General Revenue Not Elsewhere Classified1.9%

Federal Intergovernmental Highways1.6%

Unemployment - Contribution1.6%

Motor Vehicle License1.5%

Motor Fuels Sales Tax1.4%

Interest Earnings1.4%

Property Tax1.3%

Insurance Premium Tax1.2%

Higher Education Auxiliary Charges1.1%

Donations From Private Sources1.0%

Federal Intergovernmental Other1.0%

Tobacco Sales Tax0.9%

Sewerage Charges0.5%

All Other Not Elsewhere Classified Charges0.5%

Documentary & Stock Transfer Tax0.4%

Death & Gift Tax0.4%

Hospital Charges0.4%

Occupation & Business License Not Elsewhere Classified0.4%

Net Lottery Revenue0.4%

Amusement Tax0.4%

Local Intergovernmental Public Welfare0.2%

Hunting & Fishing License0.2%

Alcoholic Beverage Sales Tax0.2%

Federal Intergovernmental Employment Security Administration0.2%

Severance Tax0.2%

Other License Tax0.1%

Public Utilities Tax0.1%

Federal Intergovernmental Air Transportation0.1%

Fines & Forfeits0.1%

Workers Compensation - Other Contributions0.1%

Transit Utilities Revenue0.1%

Federal Intergovernmental Other Natural Resources0.1%

Parks & Recreation Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Motor Vehicle Operators License0.1%

Royalties0.1%

Local Intergovernmental Highways0.1%

Federal Intergovernmental Housing & Community Development0.1%

Unemployment - Interest Revenue0.0%

Local Intergovernmental Education0.0%

Housing & Community Development Charges0.0%

Federal Intergovernmental Sewerage0.0%

Corporation License Tax0.0%

Regular Highway Charges0.0%

Sale of Property0.0%

Local Intergovernmental Other0.0%

Amusement License Tax0.0%

Public Utility License Tax0.0%

Alcoholic Beverage License Tax0.0%

Toll Highway Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Rents0.0%

Key Insights

1Total revenue increased by 71.1% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 6.1%, while per-capita revenue changed by 61.3%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Minnesota: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 307%

$8,754,309,000→$35,632,959,000

Per Capita Spending▲ 284%

$1,627→$6,243

Population Trends

Population Change▲ 6.1%

5,380,615 (2012)→5,707,390 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 103%

$254,499,000 (2012)→$516,024,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 73%

$511,731,000 (2012)→$884,143,000 (2023)

Sewerage Operations▼ 0%

$0 (2012)→$108,968,000 (2023)

Administrative Expenses

Financial Administration▲ 327%

$305,678,000 (2012)→$1,306,609,000 (2023)

General Expenses▲ 66%

$308,483,000 (2012)→$512,928,000 (2023)

Minnesota Key Insights

1Police protection spending increased by 103%, significantly outpacing population growth of 6.1%
2Per capita expenditures grew by 284%, indicating substantial service expansion or cost increases not explained by population growth alone
3Financial Administration was the fastest growing major expense category at 327% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 52%

$11,060,044,000 (2012)→$16,800,319,000 (2023)

Industrial Revenue Debt▼ 100%

$2,164,410,000 (2012)→$0 (2023)

Per Capita Debt▲ 43%

$2,056 (2012)→$2,944 (2023)

Population Trends

Population Change▲ 6.1%

5,380,615 (2012)→5,707,390 (2023)

Debt Management

Most Recent Year (2023)

Issued:$1,361,006,000

Retired:$2,491,639,000

Net Change:$-1,130,633,000

Debt Retirement Trend

$1,258,687,000 → $2,491,639,000▲ 98%

🔄 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 2012-2023, with a move toward higher debt levels.