ST. PAUL, Minn. (AP) — Minnesota schools will learn Monday how much the state will pay them to settle up on some big IOUs.
Lawmakers temporarily shaved more than $2 billion in payments to schools in recent years to patch holes in state government's budget. Much of it has been paid back already, but the outstanding bills still are in the $800 million range.
With the improving state economy, schools are first in line for any excess tax collections. A law passed last spring gave finance officials until Monday to determine how much money was left — and therefore earmarked for repaying the schools — after the last fiscal year closed on June 30.
School leaders are sensitive about the payback, fearing that money previously committed to them will be perceived as a windfall.