Record settlement in George Floyd case forces Minneapolis to dip into its reserves

Mar 16, 20210

David Joles, Star Tribune count

Philonise Floyd, George's brother, placed his hand on the shoulder of Minneapolis Mayor Jacob Frey as Frey walked to the podium to speak during a news conference to announce a $27 million civil lawsuit settlement between the Floyd family and the City of Minneapolis Friday, March 12, 2021, in Minneapolis.

The $27 million settlement that Minneapolis leaders approved in George Floyd's death is more than the entire balance in the city's account that covers lawsuit payouts.

As a result, the city plans to use money from its "rainy day fund" that is reserved for emergencies and other unexpected expenses to help cover the costs.

The record payout threatens to deplete a key city fund at a time when Minneapolis is facing other lawsuits and claims, including other cases stemming from conduct by Minneapolis police.

https://www.startribune.com/record-settlement-in-george-floyd-case-forces-minneapolis-to-dip-into-its-reserves/600034723/