October 28, 2026 Board of Estimate and Taxation

The Minneapolis Board of Estimate and Taxation met on October 28, 2026, and received the City Controller’s second-quarter financial update. The General Fund was forecast to use about $49.2 million in fund balance, declining from roughly $137 million to $88 million by year-end; the city also projected spending at about 101% of budget, driven largely by public safety costs. Police was projected to be $21.6 million over budget, Fire $6.2 million over, 911 about $550,000 over, and Public Works about $26 million over, with department revenues offsetting some Public Works expenses. The city retained AAA ratings from all three major agencies, though one assigned a negative outlook. Officials also reported that the convention-center debt had been retired, reducing expenses in the Downtown Assets Fund, and discussed ongoing annual costs for the independent monitor, including a $1.5 million contract previously funded from General Fund balance. No contract award or purchasing approval was made.

The board approved the draft 2027 BET meeting schedule after discussion about spacing major budget presentations and finding a larger venue for the public budget hearing; staff will follow up on those suggestions. Members also approved the prior meeting’s minutes and unanimously adopted a resolution thanking Christina Kaiderling for her service. The controller noted that proposed federal grant-policy changes could affect the city’s grant process, but said those changes were on hold at least until December. No procurement action was identified.