Quick facts

We provide an overview of the City budget.

The 2024 budget is $1.83 billion

This is a 10.56% percent increase from the 2023 adopted budget of $1.66 billion, excluding interfund transfers and component units (like the Minneapolis Park and Recreation Board, Municipal Building Commission, and the Board of Estimate and Taxation). 



30% of our revenue comes from taxes, including property taxes and franchise fees. 

70% of our revenue comes from other sources like:

  • Bond sales
  • Fees and fines
  • Permits
  • 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:

  • 24% - Public Works — for things like safe water and roads
  • 15% - Capital Improvement — for long-term investments like parks and public buildings
  • 12% - Police
  • 7%  -  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 4,194 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.

Contact us

Finance & Property Services




Physical Address
Public Service Center
250 S. Fourth St., Room 401
Minneapolis, MN 55415
Mailing Address
City Hall
350 S. Fifth St., Room 325M
Minneapolis, MN 55415