ST. PAUL, Minn. (AP) — The board of Minnesota's new health insurance marketplace has approved a preliminary budget for 2015 that doesn't seek new federal or state money.

MNsure Interim CEO Scott Leitz says the proposed $39.8 million budget for next calendar year is conservative. And he says it's based on the assumption the federal government will let it carry over $5 million in grants that have already been awarded but not spent.

MNsure must report its preliminary 2014 budget to the Legislature by Saturday and finalize the numbers in November.

Legislators made it clear to MNsure last month that they feared a shortfall could materialize next year, and they were unenthusiastic about using state money to fund the exchange.

More than 118,000 Minnesotans have now signed up for health insurance coverage through MNsure.