ST. PAUL, Minn. — A new economic forecast being released Wednesday shows Minnesota has a $323 million budget surplus.

The forecast is outlined in a summary document prepared by Minnesota Management and Budget and obtained by The Associated Press from two people who received it ahead of its official release. They provided the information on condition of anonymity because state budget officials were not scheduled to detail the forecast publicly until later in the day.

The summary document also notes the entirety of the surplus already is spoken for under current law.

The first $5 million will be used to replenish the state’s budget reserve, lifting that emergency fund to a total of $653 million. The remainder, $318 million, will be used to begin repaying more than $2 billion in state aid payments to school districts that were delayed as part of last year’s compromise between Gov. Mark Dayton and lawmakers to close a large budget deficit.

The cushion in the state budget is a sign to state lawmakers that Minnesota’s economy continues to stay on the mend. It’s likely to set the tone for the remainder of the legislative session, giving ammunition to supporters of more state borrowing for new construction projects and backers of a state-aided Minnesota Vikings stadium.

The Management and Budget office was scheduled to publicly release the forecast at a Capitol briefing shortly before noon.