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State revenues down slightly in August

Posted by: Jim Ragsdale under Gov. Mark Dayton, Minnesota legislature Updated: September 10, 2013 - 2:50 PM

Minnesota's tax revenues were slightly below projections in August, but state officials said the dip could be due to factors other than the state's level of economic activity.

Revenues for the month were nearly $1.3 billion, $26 million (or 2 percent) less than forecast. For the fiscal year that began July 1, overall revenues are 2 percent below projected levels.

Minnesota Management and Budget, which oversees the state's budget, said changes in the dates that receipts are received could cause monthly variations.

The agency said "downtime for the state’s accounting system" over the Labor Day weekend pushed some August revenue into early September.

August Revenue Memo

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