The 2022 budget is $1.57 billion
This is a 8.5% percent decrease from the 2020 adopted budget of $1.45 billion, excluding interfund transfers and component units such as:
- The Minneapolis Park Board
- Municipal Building Commission
- Board of Estimate and Taxation
26% of our revenue comes from property taxes
74% of our revenue comes from other sources like:
- Federal Aid
- Sales Tax
- State Aid
Department budgets range in size. Below are some of the largest budgets, as a percentage of the total budget:
- 25% - Public Works — for things like safe water and roads
- 13% - Capital Improvement — for longterm investments like parks and public buildings
- 12% - Police
- 6% - Community Planning & Economic Development
- 5% - Fire Department
We can't run our city without investing in good staff.
- In 2022, we are budgeted to pay over 4,106 full-time equivalent (FTE)* employees.
- This total does not include the employees of independent boards.
*FTE is a statistical representation of the hours paid to one individual for a full 40-hour work week, each week for one full year.
"Rainy day" funds
Our policies require us to have budget reserves in case there is a need for emergency expenditures. This practice ensures financial stability even if revenues do not meet projections.
Budget reserves vary based on the fund. For more information, see the Budget Book.
We work to balance having the necessary funds on hand to care for our city and its people, while only collecting what we need to deliver services and carry out our mission.
350 S. Fifth St., Room 325MMinneapolis, MN 55415