Quick facts

We provide an overview of the City budget.
Amount

The 2021 budget is $1.45 billion

This is a 5.1% percent decrease from the 2020 adopted budget of $1.53 billion, excluding component units such as:

  • The Minneapolis Park Board
  • Municipal Building Commission
  • Board of Estimate and Taxation
Revenue

Sources

25% of our revenue comes from property taxes

75% of our revenue comes from other sources like:

  • Fees
  • Fines
  • Permits
  • Federal Aid
  • Sales Tax
  • State Aid
Spending

Distribution

65% percent of our budget is spent on the work of five departments.

  • 27% - Public Works — for things like safe water and roads
  • 20% - Capital Improvement — for longterm investments like parks and public buildings
  • 11% - Police
  • 7%  -  Community Planning & Economic Development
  • 5%  -  Fire Department

The remaining 35% covers all remaining departments and programs.

Spending

Employees

We can't run our city without investing in good staff.

  • In 2021, we are budgeted to pay over 3,964 full-time equivalent (FTE)* employees.
  • This 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.

Reserves

"Rainy day" funds

Our policies require us to have:

  • Budget reserves in the following amounts: 
    • 17% in our General Fund
    • 15%  in our Internal Service Fund
    • 25% in our self-sustaining enterprises
  • A General Fund contingency budget:
    • No less than 1% of budgeted General Fund expenditures
    • To ensure we are financially stable, even if:
      • Revenues don't meet projections
      • Thee is a need for emergency expenditures 

We work to balance:

  • Having the necessary funds on hand to care for our city and it's people, while
  • Only collecting what we need to deliver services and carry out our mission

Contact us

Finance & Property Services

Phone

612-673-3000

Address

City Hall
350 S. Fifth St., Room 325M
Minneapolis, MN 55415