Minnesota Fiscal Statistics

StatisNostics/State Financials/Minnesota
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20122024
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State Revenue Analysis (Minnesota: 2012–2024)

Population: 5,380,615 → 5,717,184 (6.3% change)

Overall Revenue Trends

Total Revenue▲ 78.9%
$35,734,171,000 (2012)→$63,942,811,000 (2024)
Per Capita Revenue▲ 68.4%
$6,641 (2012)→$11,184 (2024)
Fund Balances▼ 100%
$13,182,954,000 (2012)→$0 (2024)
Revenue Volatility✓ Low
Avg. fluctuation: 6.3%

Major Tax Revenue

Property Tax▼ 9.4%
$807,700,000 (2012)→$731,865,000 (2024)
Sales Tax▲ 71.9%
$4,942,140,000 (2012)→$8,493,198,000 (2024)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Transit Utilities Revenue▲ 519644.4%
$9,000→$46,777,000
Public Utilities Tax▲ 175420.4%
$49,000→$86,005,000
Regular Highway Charges▲ 6895.1%
$223,000→$15,599,000

Declining/Slowest Growing Sources

Rents▼ 99.3%
$3,550,000→$26,000
Education Other State Charges Not Elsewhere Classified▼ 97.7%
$70,349,000→$1,650,000
Royalties▼ 40.3%
$50,157,000→$29,957,000

Revenue Forecast

Projected Revenue (Next Year)▼ 0.1%
Estimated: $63,880,719,729
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%

2024 Revenue Breakdown

Federal Intergovernmental Public Welfare22.6%
Individual Income Tax20.8%
Total General Sales Taxes13.3%
Corporation Net Income Tax9.2%
Other Selective Sales Taxes3.7%
Federal Intergovernmental Education3.6%
Interest Earnings2.8%
Higher Education Tuition Charges2.1%
Miscellaneous General Revenue Not Elsewhere Classified1.9%
Donations From Private Sources1.6%
Motor Vehicle License1.6%
Federal Intergovernmental Highways1.6%
Motor Fuels Sales Tax1.4%
Insurance Premium Tax1.3%
Unemployment - Contribution1.3%
Federal Intergovernmental Health & Hospitals1.2%
Property Tax1.1%
Higher Education Auxiliary Charges1.1%
Federal Intergovernmental Other1.0%
Tobacco Sales Tax0.9%
Sewerage Charges0.5%
All Other Not Elsewhere Classified Charges0.5%
Occupation & Business License Not Elsewhere Classified0.5%
Death & Gift Tax0.4%
Hospital Charges0.4%
Documentary & Stock Transfer Tax0.4%
Net Lottery Revenue0.4%
Amusement Tax0.3%
Local Intergovernmental Public Welfare0.2%
Hunting & Fishing License0.2%
Alcoholic Beverage Sales Tax0.2%
Other License Tax0.1%
Federal Intergovernmental Employment Security Administration0.1%
Public Utilities Tax0.1%
Severance Tax0.1%
Federal Intergovernmental Other Natural Resources0.1%
Motor Vehicle Operators License0.1%
Federal Intergovernmental Air Transportation0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Workers Compensation - Other Contributions0.1%
Federal Intergovernmental Housing & Community Development0.1%
Parks & Recreation Charges0.1%
Local Intergovernmental Highways0.1%
Transit Utilities Revenue0.1%
Unemployment - Interest Revenue0.1%
Local Intergovernmental Education0.1%
Fines & Forfeits0.1%
Housing & Community Development Charges0.1%
Royalties0.0%
Federal Intergovernmental Sewerage0.0%
Sale of Property0.0%
Corporation License Tax0.0%
Regular Highway Charges0.0%
Local Intergovernmental Other0.0%
Amusement License Tax0.0%
Public Utility License Tax0.0%
Workers Compensation - Interest Earnings0.0%
Toll Highway Charges0.0%
Alcoholic Beverage License Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Air Transportation Charges0.0%
Rents0.0%
Taxes Not Elsewhere Classified0.0%

Key Insights

  1. 1Total revenue increased by 78.9% from 2012 to 2024, representing a significant change in the state's financial position.
  2. 2Population changed by 6.3%, while per-capita revenue changed by 68.4%.
  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 - 2024)

Total Expenditure Trends

Operating Expenditures▲ 337%
$8,754,309,000→$38,263,250,000
Per Capita Spending▲ 311%
$1,627→$6,693

Population Trends

Population Change▲ 6.3%
5,380,615 (2012)→5,717,184 (2024)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 137%
$254,499,000 (2012)→$602,601,000 (2024)
Fire Protection▼ 0%
$0 (2012)→$0 (2024)

Infrastructure Expenses

Highways Maintenance▲ 85%
$511,731,000 (2012)→$945,418,000 (2024)
Sewerage Operations▼ 0%
$0 (2012)→$155,486,000 (2024)

Administrative Expenses

Financial Administration▲ 367%
$305,678,000 (2012)→$1,427,991,000 (2024)
General Expenses▲ 95%
$308,483,000 (2012)→$600,275,000 (2024)

Minnesota Key Insights

  1. 1Police protection spending increased by 137%, significantly outpacing population growth of 6.3%
  2. 2Per capita expenditures grew by 311%, indicating substantial service expansion or cost increases not explained by population growth alone
  3. 3Financial Administration was the fastest growing major expense category at 367% increase
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State Debt Analysis (2012-2024)

Debt Trends

Total Long-Term Debt▲ 52%
$11,060,044,000 (2012)→$16,817,672,000 (2024)
Industrial Revenue Debt▼ 100%
$2,164,410,000 (2012)→$0 (2024)
Per Capita Debt▲ 43%
$2,056 (2012)→$2,942 (2024)

Population Trends

Population Change▲ 6.3%
5,380,615 (2012)→5,717,184 (2024)

Debt Management

Most Recent Year (2024)

Issued:$2,047,912,000
Retired:$2,188,459,000
Net Change:$-140,547,000

Debt Retirement Trend

$1,258,687,000 → $2,188,459,000▲ 74%
🔄 Significant change in retirement strategy detected

Key Insights

  1. 1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
  2. 2There appears to be a significant shift in debt management strategy between 2012-2024, with a move toward higher debt levels.