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The Huge George Floyd Settlement Is Forcing Minneapolis to Dip Into Its Savings

The Huge George Floyd Settlement Is Forcing Minneapolis to Dip Into Its Savings

Minneapolis’ historic settlement with George Floyd’s family is so large that it’s forcing the city to dip into its savings to make that payout. With just $23.4 million set aside for lawsuit settlements, the city will get the remaining cash from its general fund balance. AdvertisementWhile the total amount available in that general fund hasn’t been made public, officials said they don’t anticipate the settlement will have much effect on residents’ taxes. The city managed to raise an additional $24 million in revenue for the general fund in 2019 through licenses and permit fees and investment income, according to the Star Tribune. Chris Stewart, the Floyd family’s attorney, made it clear Friday that he’s cared little about how the announcement would affect the criminal trial of Floyd’s accused killer.