Revenue estimate tweaked as budget work nears
As Florida lawmakers get ready to hammer out a new state budget, they received a final forecast Thursday of how much general revenue will be available to pay for programs such as schools, health care and prisons.
Bottom line, not much changed.
Economists scoured data Thursday and estimated that lawmakers will have about $7.4 million less in general revenue than forecast in December. But that is just a fraction of the $33.5 billion in general revenue that the state is projected to bring in during the 2019-2020 fiscal year, which starts July 1.
The economists huddle periodically throughout the year to update estimates of general revenue, which plays a crucial role in the budget. Senate President Bill Galvano, a Republican from Bradenton, said Thursday he expects the Senate to start going through the budget process early next week before the full Appropriations Committee approves an initial 2019-2020 spending plan.
Galvano, speaking to reporters before the economists released the updated forecast, said he anticipated the estimate “may come down a little bit.”
“That’s what we’re hearing, which makes it a little more difficult going forward,” Galvano said. “But once we get those (numbers), we’ll be able