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Minneapolis Q3 report flags $67M general‑fund drawdown and a near $20M police overspend
Summary
Controller and finance staff told the Budget Committee that the city projects a roughly $67 million year‑over‑year use of general fund cash and that public safety — chiefly police overtime and recent hiring — is driving a projected $19.5 million overspend; council members requested follow‑up memos on collections, litigation reserves and staffing costs.
The Minneapolis Budget Committee on Monday heard a detailed third‑quarter financial status report showing the city expects a significant drawdown of the general fund and has a sizable projected overspend in public safety budgets.
City Controller George Hargrove said the period‑9, point‑in‑time report (unaudited) shows an expected general fund cash position of about $166 million at year‑end, down from $234 million a year earlier — a projected use of roughly $67 million. Hargrove flagged several revenue pressures, including property‑tax collections running below assumptions (about $17.5 million under budget), and softer downtown…
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