The following article summarizes the original event which is listed below the summary.
March 28th speaker discussed Minnesota's economy and budget process
Dr. Laura Kalambokidis, Professor of Applied Economics and our Minnesota State Economist spoke at the March 28th UMRA Luncheon. She enlightened us about the strength and resiliency of the MN economy mainly due to the diversity of our industries and the strength of our well-educated labor pool. But, with the aging population we need to invest in education and jobs for our diverse ethnic population and encourage immigration to enrich our future labor market. The process of creating the State’s revenue forecast was most informative and helped us understand the headlines announcing that the state will have $1.65 billion budget surpus in the 2018-19 biennium.
March 2017 Minnesota's economic outlook, with State Economist Laura Kalambokidis
Tue, March 28 2017, 11:30am
Conference Room ABC, Campus Club, Fourth Floor, Coffman Memorial Union
The most recent budget forecast for Minnesota’s budget balance is $678 million for the current biennium (2016-2017). This increases to $1.4 billion for 2018-2019. Where do these numbers come from? Who makes these forecasts? It is Minnesota’s State Economist, Dr. Laura Kalambokidis, who heads the Economic Analysis team at the Minnesota Management and Budget office (MMB). She and a staff of two economists and a model programmer comprise Economic Analysis at MMB. They are responsible for preparing and presenting the state's twice-yearly Budget and Economic Forecast and quarterly Revenue and Economic Update.
Dr. Kalambokidis' principal responsibility as Minnesota's State Economist is to supervise the production of revenue and economic forecasts. Other duties include monitoring the state's revenue collections, tracking the performance of Minnesota's economy, and informing decision-makers in Minnesota on economic and fiscal issues. Dr. Kalambokidis also serves as the state's chief economics spokesperson. She has frequent public speaking engagements and responds to questions and interviews with the media on such topics as Minnesota's economy and tax revenue.
Dr. Kalambokidis is also a professor in the Department of Applied Economics and an extension economist at the University of Minnesota, where she teaches public sector economics and conducts research on a range of federal and state tax policy issues. She was a member of the Minnesota State Budget Trends Study Commission in 2007-08 and the Minnesota Tax Expenditure Review Study Group in 2010-11. Prior to assuming her position at the university, she was a financial economist in the Office of Tax Analysis in the U.S. Department of Treasury in Washington, D.C, where she provided economic analysis of tax policy issues and developed models to estimate the revenue effects of proposed tax changes.
Laura has been Minnesota State Economist since 2013. She holds a Ph.D. degree in Economics from the University of Michigan and an undergraduate degree in Economics from the University of Minnesota.
--Jean Kinsey, UMRA past president
Upcoming Events
We are fortunate to have UMRA member and former Minnesota Landscape Arboretum director Peter Moe to lead this approximately 3.7-mile hike at the Arboretum on Monday, May 6. Plan to have lunch together after the hike at the Eatery café inside the Oswald Visitor Center.
This session will continue the discussion begun in the May 8, 2023 session. See that article for details.
If you currently live in your own home or apartment, have you looked ahead to when you might want to consider a senior living option? Do you have any idea what those options might be? How much they cost? What they provide? UMRA’s May 14 workshop will provide an overview of the world of senior living and the basic information you need.
You’re invited to join the final Family History Interest Group meeting for 2023–24. This will be an opportunity to ask questions related to family history, share insights, talk about recent projects, and suggest topics for next year.
Stephanie Daily will lead the discussion of Fuzz: When Nature Breaks the Law by best-selling author Mary Roach when the UMRA Book Club meets via Zoom at 2 p.m. on Friday, May 17.
The May 20 hike will start at the Historic Lift Bridge in Stillwater and go along the river to the new bridge, cross over and then back on the Wisconsin side, a total of approximately 5 miles. Most of the route is paved. We will eat lunch after at Brian's Bar and Grill in Stillwater. Car pooling will be available.
Climatologist and meteorologist Mark Seeley joined the U of M faculty in 1978 and has been a weekly commentator on Minnesota Public Radio since 1992. We are honored to welcome him as our guest speaker for UMRA’s May Luncheon Forum and 2024 Annual Meeting. He is always entertaining and informative.
UMRA’s Fourth Friday Book Club welcomes back, for the second time, author Julie Schumacher, U of M Regents professor of creative writing and English, for a conversation about her novel The Shakespeare Requirement.
We are in for a treat on June 3! Lynn Anderson, will lead us on trails at two parks near her Monticello home. Bring a bag lunch and we will gather in Lynn's yard along the Mississippi River for eating and socializing after the hike.
Get out to the ballpark with fellow UMRA members for the annual U of M Day at Target Field as the Minnesota Twins take on the Oakland Athletics on June 14 at 7:10 p.m.
Please join us at 9:30 on June 17, 2024 for a walk around Lake Como in St. Paul before attending the UMRA Summer Social and Picnic starting at 11 at the Como Pavilion. A perfect opportunity to get in a walk before we gather to celebrate summer.
Picnic under the covered, open-air Como pavilion, gaze at the water, spy some birds, catch up with friends and former colleagues, and meet new members. We’ll have lunch with plenty of time for visiting and then compete in teams as we are challenged by our Quiz master(s)!
Healthy aging, mindfulness, fighting ageism, and more will be the focus of the third annual Age-Friendly University Day to be held on the U of M Twin Cities campus.