THE GOVERNOR’S FY2021-22 BUDGET RECOMMENDATIONS

Federal Funds Would Lead to Record Spending

/ Categories: Research, Budget/Approps

Despite the negative revenue impact of the COVID-19 pandemic and the Legislature’s early talk of shortfalls and budget cuts, Governor Ron DeSantis has released a proposed budget for FY2021- 22 that totals $96.578 billion, a $4.308 billion (4.7 percent) increase over current year spending.

Budget Watch - Finally, Some Good Budget News

New General Revenue Estimates Add $2.1 Billion to Expected Collections

/ Categories: Research, Budget/Approps

The General Revenue Estimating Conference (GREC) met on December 18 and 21 and increased Florida’s general revenue (GR) projections by $1.486 billion in the current budget year and $623 million in FY2021-22.1 This restores 39 percent of the $5.4 billion two-year reduction in the estimates adopted by the GREC last August. 

Budget Watch - Florida is Facing Large Budget Shortfalls

/ Categories: Research, Budget/Approps

The severe economic contraction brought on by COVID-19 has reduced state revenues significantly. The pandemic is also increasing government costs such as virus response/recovery and assistance to those harmed economically by the public health emergency. This spells trouble for the current and future state budgets.