Moody's says state school shift payback helps outlook

  • Article by: BAIRD HELEGSON , Star Tribune
  • Updated: December 14, 2013 - 9:49 PM

The nation’s top credit rating agencies are taking notice that Minnesota has repaid the $2.7 billion borrowed from K-12 public schools to balance the state budget over the past two budget cycles.

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jpcooperDec. 14, 13 6:21 PM

Can someone please tell me where this school bank account is where the money was taken/borrowed from and where/what account is this money is being paid back into? What is the balance in this back account?

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regionguyDec. 14, 1311:10 PM

Well, jpcooper, you might want to ask that question of the superintendent of the school district in which you live.

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WaterBunkerDec. 15, 13 7:18 AM

Rating agencies rate finances of distinct business/government units.

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avejoeconDec. 15, 13 8:21 AM

Just think what this would have done if they would have paid them off in 2012, like the Republicans passed and Dayton Veto'd.

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jpcooperDec. 15, 1310:22 AM

regionguy "ell, jpcooper, you might want to ask that question of the superintendent of the school district in which you live.

your missing my point! Money was NEVER borrowed! it was reallocated! Some State tax money (taxes from citizens) was reallocated away from schools to other pressing expenses, the schools then had to raise taxes, (on the citizens of the district) to fund the budget! All the money comes from the same source, the citizens on MN!

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