I would like to thank Representative Yvonne Selcer for authoring House
File 1 to end the school funding shift. On October 15, 2013, Eden Prairie schools received $701,090,
Minnetonka schools received $708,438, and Hopkins schools received $545,723. To
date, Minnesota has now repaid nearly $2.6 billion of the $2.8 billion shifted
away from schools during previous budget cycles. These payments
will be ongoing until the shift is fully repaid sometime early next year.
In accomplishing this important goal, Representative Selcer was concerned
that no new undue tax obligation be added for our community members. The fiscally
prudent method that was passed involved accelerated payments using surplus
The major credit rating
agencies are noticing that in the most recent budget cycle legislators stopped
using accounting gimmicks and unsound financial practices such as fiscal shifts
and bonding to pay bills to balance our state’s budget, and are now acting in a
fiscally responsible manner.
One such agency, Fitch,
has upgraded our state's bond outlook from "negative" to
"stable". You can review that report at http://www.businesswire.com/news/home/20131015007004/en/Fitch-Rates-Minnesotas-768MM-GOs-AA-Outlook
If we as a state can
regain our top credit rating through wise budget decisions, fewer of
Minnesotans' hard-earned tax dollars will go to interest payments, and more
will be available for important investments in vital areas such as education
and tax relief.
We are fortunate to have
Representative Yvonne Selcer working on our behalf.