The state's February forecast - the official estimate of revenues and expenditures on which the state's budget is built - was announced today to be nearly $1 billion in the current biennium, and nearly $2 billion in the next biennium.

Upcoming events:

• Today, the Minnesota Senate removed Lt. Gov. Carol Molnau from her second job as state transportation commissioner. The Senate DFL majority dumped Molnau on a 44-22 party line vote. Gov. Tim Pawlenty immediately appointed Bob McFarlin, Molnau's top aide, as acting transportation commissioner. Read the Pioneer Press article.
  
  
• The Department of Employment and Economic Development's monthly jobs report, released Wednesday, shows the state gained 8,500 jobs in January. Further, after doing its annual revision for the prior 18-month period, state officials determined Minnesota actually added 6,200 jobs in 2007 rather than their initial estimate of a loss of about 350 jobs. The state's unemployment rate dropped to 4.5 percent in January, from 4.7 percent the previous month. The nation's jobless rate was 4.9 percent last month. Does this suggest the state's economy is better off than previously thought? Read the Pioneer Press article.
  
  
• Several legislators have proposed changes to the state's sales tax. A bill proposed by Rep. Melissa Hortman (DFL-Brooklyn Park) would broaden the sales tax by including goods and services that aren't taxed. Her proposal would be "revenue neutral" because it would lower the 6.5 percent sales tax rate to 4.5 percent for purchases made after June 30, 2008. On Tuesday, the House's tax committee began considering Hortman's proposal and another one from Rep. Ron Erhardt (R-Edina). Read the Finance and Commerce article.
  

Met Council:

• The Central Corridor light-rail transit (LRT) project achieved another important milestone February 27 when the Metropolitan Council approved the final scope of the 11-mile line linking downtown Minneapolis and downtown St. Paul. The Council action clears the way for the project staff and consultants to complete preliminary engineering on all components of the line. The Council and its project partners face a deadline of early September to finish this work and apply for federal permission to enter final design in 2009. Read more on the Met Council Web site.
  

• While the baby boomer retirements will affect many industries, local governments fear they will be hit harder because they have an older workforce that can retire earlier. Around Minnesota and the country, officials say they are concerned about replacing the people who run sewer systems, recruit businesses and plan neighborhoods. Read the Star Tribune article.