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Fiscal Year 2023: Florida’s Continuing Success in Debt Reduction

Blog
/ Blog / 6 minutes of reading

The 2023 Debt Report for Florida highlights the state’s strong financial standing, with a debt ratio below the 6% legislative target for the tenth consecutive year. Florida’s debt and debt service have decreased, while General Revenue collections increased by $3.3 billion. Rating agencies affirmed AAA ratings and a stable financial outlook. The report details Florida’s debt management strategies, including limiting debt accumulation and maintaining high reserves, contributing to a strong debt capacity and reduced future costs. Local government debt, however, remains comparatively high. The state’s prudent financial practices are underscored, benefiting taxpayers and indicating a healthy fiscal future.

The Taxpayer’s Guide to Florida’s FY2023-24 State Budget

Research, Taxpayer Guide
/ Research, Taxpayer Guide / 3 minutes of reading

Florida TaxWatch is pleased to present taxpayers with a guide to the FY2023-24 state budget, which went into effect July 1, 2023. The 2023 Legislature appropriated a total of $118.7 billion for FY2023-24. This Budget Guide includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills—net of the Governor’s vetoes. 

Florida TaxWatch Releases 2023 How Counties Compare

Press Releases
/ Press Releases / 4 minutes of reading

Tallahassee, Fla. – Today, Florida TaxWatch (FTW) released the 2023 How Florida Counties Compare report, which examines Florida’s 67 counties and the myriad of local governments within the state, comparing the revenue and expenditure profiles of counties to give taxpayers an overview of how their local government stacks up against the other counties. 

Florida TaxWatch Announces Taxpayer Priorities for 2023 Legislative Session

Press Releases
/ Press Releases / 7 minutes of reading

Tallahassee, Fla. – Today, Florida TaxWatch released a list of taxpayer priorities for the 2023 Legislative Session, which begins on Tues., March 7 and is scheduled to adjourn on Fri., May 5. The list reflects a range of issues that the independent, nonpartisan taxpayer research institute has examined and will continue to closely monitor during the upcoming session. 

Budget Watch – How Will the 2023 Legislature Handle a Record $13.5 Billion Budget Surplus?

Budget & Appropriations, Research
/ Budget & Appropriations, Research / 2 minutes of reading

As Florida TaxWatch has been detailing in our Budget Watch series,1 the state’s fiscal circumstances have been steadily improving since the initial shock (and resultant revenue loss) at the beginning of the pandemic. Even with historic state spending and tax cuts over the last two budgets, record reserves still exist. Florida’s tax system continues to produce revenue at a breakneck pace, with actual collections beating the estimate in each month over the last two year. Lately, the magnitude of the overage has been staggering. In the last three months of FY2021-22 (April-June), collections exceeded estimates by $2.545 billion (23.9 percent).

Florida’s FY2022-23 State Budget

Budget & Appropriations, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Insurance, Research, Taxpayer Guide, Tourism, Transportation
/ Budget & Appropriations, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Insurance, Research, Taxpayer Guide, Tourism, Transportation / 2 minutes of reading

Florida TaxWatch is pleased to present taxpayers with a guide to the FY2022-23 state budget, which went into effect July 1, 2022. The report includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-bill” spending, and general bills—net of the Governor’s vetoes.

Monitoring and Oversight of General Obligation Bonds to Improve Broward County Schools: Q3 2021-22

Broward Schools Bond Oversight (SMART Program), Research
/ Broward Schools Bond Oversight (SMART Program), Research / 2 minutes of reading

In early June, Florida TaxWatch received the Bond Oversight Committee Quarterly Report for the Quarter Ended March 31, 2022 (“Quarterly Report”). This report provides updated information on the implementation of the District’s SMART Program and the use of general obligation bond funds to purchase and install technology upgrades, purchase music and arts equipment, improve school safety, upgrade athletic facilities, and renovate educational facilities.

Florida TaxWatch Announces Thurs., April 14 as 2022 Florida Taxpayer Independence Day

Press Releases
/ Press Releases / 3 minutes of reading

Tallahassee, Fla. – Florida TaxWatch announced that tomorrow, Thurs., April 14 marks the 2022 Florida Taxpayer Independence Day. This symbolic occasion assumes that every dollar Floridians earned since the start of the year goes to pay local, state, and federal taxes, but now, they will finally begin earning for themselves. Based on the relative size of all taxes paid in Florida to the state’s total personal income, it took taxpayers an average of 103 days to satisfy their tax obligations this year, four more days than in 2021. 

Florida TaxWatch Announces Manatee Charter School Principal Bonnie Brett as a 2021-22 Principal Leadership Awards Winner

Press Releases
/ Press Releases / 3 minutes of reading

Bradenton, Fla. – Today, Tues., April 12, Florida TaxWatch (FTW) will proudly announce that Principal Bonnie Brett of Manatee Charter School in Manatee County is among the nine winners of the Florida TaxWatch 2021-22 Principal Leadership Awards (PLA). Through the program, Principal Brett has also identified one deserving student to receive a full two-year Florida College Scholarship.

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