In the past 10 years Minneapolis has exercised fiscal responsibility and restraint. Minneapolis:
- cut City spending by nearly 7% over the past 10 years after inflation.
- has 10% fewer full-time positions today than it did 10 years ago.
- eliminated $130 million in debt since 2002.
- regained a AAA bond rating from Fitch, Moody’s and Standard & Poor’s, the nation’s three major bond rating firms.
- consistently operated under a five-year balanced budget, without the use of budget gimmicks.
- was recognized for its adherence to nationally recognized standards for effective budgeting by the Government Finance Officers Association.
- spent more than $1.77 billion on public safety since 2002.
- generated more than $2.86 billion in sales and commercial-industrial property-tax revenues for the State of Minnesota from 2003-2008.
- has taken $297 million cumulative in LGA cuts from the State of Minnesota since 2002.
Minneapolis is a net contributor to the State of Minnesota’s bottom line.
- The State of Minnesota will collect more than $456 million in sales and commercial-industrial property-tax revenues in Minneapolis in 2011.
- The State of Minnesota sent $64.4 million in Local Government Aid to Minneapolis in 2010 (including pass-through dollars to the Park Board and Municipal Building Commission).
March 24, 2011
Last updated Feb. 7, 2012