$223 Million Surplus Reflects Florida's Sound 'Conservative Financial Decisions'
Florida lawmakers adopted a new long-range financial forecast on Friday that could bode well when they meet next spring to write a new state budget.
The financial outlook, which was adopted unanimously by the Legislative Budget Commission, projects a $223 million surplus for the next budget year, which begins July 1. It is a modest surplus, representing only 0.6 percent of the estimated $34.6 billion in general revenue projected for next year.
Senate Appropriations Chairman Rob Bradley, R-Fleming Island, who chairs the joint budget panel of House and Senate members, said the positive numbers are a sign of Florida’s strong economy and the “conservative financial decisions” made by lawmakers.
“We’re pleased to see we will have a modest budget surplus going forward to next year and we’re very pleased to see the strong economy that is shown in the data,” Bradley said. “Things are really moving in the right direction. Florida is on a roll.”
Sen. Bill Galvano, a Bradenton Republican who takes over as Senate president in November, also noted that last year’s forecast, which makes projections over a three-year period, had shown a potential revenue shortfall of more than $1.1 billion in 2019-20, in contrast with the new