Minnesota has spent more than $1 billion of its federal stimulus dollars.

Management and Budget Commissioner Tom Hanson said that’s almost a quarter of the money the state is getting to boost the economy. He says officials are ready to pay another $440 million in contracts and grants as soon as the work is done.

The state of Minnesota is getting an estimated $4.7 billion from the American Recovery and Reinvestment Act.

Hanson said officials are spending the stimulus money quickly.

So far, 15 state agencies have been involved, with the largest amounts going to Medicaid health care services and transportation projects.

More detailed reporting on stimulus spending is due at the end of October.