Minneapolis expected to dip into reserve funds for the first time in 10+ years

Minneapolis leaders say the city’s General Fund is expected to fall below the required minimum balance by the end of the year, dipping into its emergency reserves for the first time in more than a decade.

A city budget chart shows the General Fund forecasted to fall $22 million or more below the city’s minimum year-end balance of $110.4 million, which city financial policy treats as emergency savings.

“This ensures the city has around 2 months of funding to continue essential operations in an emergency,&rd...