The Broward County Public Schools’ Bond Oversight Committee Quarterly Report for the Quarter Ended December 31, 2022 (“District Quarterly 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 and security, upgrade athletic facilities, and renovate educational facilities.  

Credit cards provide a convenience for consumers and merchants when shopping, both in-person or online. This convenience comes at a cost for merchants since credit card companies charge them an interchange fee (or “swipe fee”) on each credit card purchase. Throughout the last decade, credit card utilization and popularity have increased drastically for a brick-and-mortar businesses and e-commerce businesses. 

One of the fundamental responsibilities of government is to ensure the safety and welfare of those in its care. This includes indigents who are accused of wrongdoing and who would otherwise be unable to afford a private attorney to defend them. It is essential that, in all criminal prosecutions, the accused is afforded all rights under Amendment VI of the U.S. Constitution, including the right to a speedy trial and the right to have the assistance of competent defense counsel, even if they cannot afford it.

The six percent sales and use tax is Florida state government’s largest revenue sourceby far, currently bringing in approximately $36 billion annually. When the almost $6 billion in local option sales tax collections is included with the state tax, the $42 billion total collections make the sales tax the number one tax source for all Florida governments, topping the $40 billion local property tax.

Florida’s homeowners insurance market is in the emergency room on life support. Homeowners and insurance agents across the state struggle to obtain reasonably priced homeowners insurance. In 2022, the average annual premium for a homeowners insurance policy was $4,231, close to three times the U.S. average of $1,544, and nearly twice Florida’s $2,505 average just two years ago. In 2023, premiums are on track to climb even higher. The Florida state legislature held two special sessions in 2022 focused on making insurance more available and affordable. Although the meetings helped raise lawmakers’ awareness of the cause of the crisis and introduced measures to arrest further market deterioration, reasonably priced insurance is expected to remain hard to find in 2023.

Florida’s economy is strong. If Florida were a country, its gross domestic product (GDP) would rank 14th among economies worldwide, and its ambitions do not stop there. Florida aims to be within the top ten economies by 2030. By this time, two in three jobs are expected to require specialized training, a credential, or a degree. To achieve its economic goal, Florida will need to continue developing its specialized workforce. With 120,000 students completing Florida College System (FCS) programs each year, the FCS plays a critical role in providing the talent pipeline necessary to reach Florida’s economic goal and does so at a very affordable cost to students and Florida taxpayers alike.

Florida has always endured a complex property insurance market due its unpredictable weather and proneness to hurricane catastrophes. Recent issues, however, have nearly pushed the market to the brink of collapse. With the combination of insurance company insolvencies, excessive litigation from fraud, and the recent devastation from Hurricane Ian, Florida’s crisis continues to worsen.

Florida’s general revenue (GR) collections continue their remarkable growth, beating the state’s estimates and adding more and more money for the Legislature to spend. GR collections exceeded expectations in December by $530.5 million.

While the U.S. Census Bureau is popularly known as the leader of decennial census counts, it is also charged with conducting other surveys throughout the decade to help inform American decision-making. With each survey, the U.S. Census Bureau aims to strike the “best mix of timeliness, relevancy, quality and cost” to gather the data that define our nation’s people and economy. The U.S. Census Bureau cannot achieve its goal alone. Like the census count, the participation of all residents is key to ensuring that Americans can fully reap the benefits that the U.S. Census Bureau has to offer.

In December 2022, data for the American Community Survey 2017-2021 5-Year Estimates was released. On January 26^th, the 5-Year Microdata and 1-Year Data Profiles will be available. An accurate decennial census count is important for community and business decision-making. The census count creates data estimates touching nearly every facet of a taxpayer’s life, ranging from average work commutes to how many people have access to broadband. While the census is the basis for such statistics, it is obvious that counting people cannot provide such in-depth knowledge alone. The census has a partner: the American Community Survey (ACS).

The increase of rental prices burdens the budgets of Floridians—whose budgets are already burdened by inflated prices on goods—and results in long-lasting implications for Florida’s workforce.

The annual Florida TaxWatch How Florida Compares: Taxes report ranks Florida’s state and local taxes against those levied around the nation. The nearly 40 tables, charts, and graphs in this report provide comprehensive information on state and local tax rates, tax collections, and other government revenues for all 50 states, and historical information for Florida.

FloridaMakes is the manufacturing extension partnership for the state of Florida. FloridaMakes is managed by the National Institute of Standards and Technology, an agency of the U.S. Department of Commerce, and delivers business growth, talent development, and technology adoption services to manufacturers through regional manufacturers’ associations.

Florida has remained in good financial standing this past fiscal year. This is also true of the state’s debt position. FY 2021-22 marks the ninth consecutive year with a debt ratio below the six percent target established by the Legislature. In addition:

At the state level, taxpayers in Florida have enjoyed tax cuts passed by the Legislature every year since 2009.  However, at the local level, Florida voters continue to vote to significantly increase the taxes they pay.  A 2021 Florida TaxWatch report discovered that since 2010, Floridians voted to increase their own taxes 142 times. This includes voting to extend existing expiring tax levies.

Florida’s Effective Access to Student Education (EASE) grants provide modest tuition equalization to reduce the difference between public and private tuition; make private institutions more affordable to Florida residents; fuel enrollment growth; increase retention and degree completions in Florida; and reduce the tax burden on Florida taxpayers.

Where and how well our school districts spend our education dollars can have a profound impact on student academic achievement and success. Historically, education makes up about one-fourth of Florida’s total budget. Florida TaxWatch believes that shifting education spending away from administrative and other expenses and toward classroom/instructional expenses is beneficial.

The gap between Florida’s infrastructure needs and what Florida currently has is nearly $2.59 trillion over ten years. By year 2039, a continued underinvestment in Florida’s infrastructure at current rates will have serious economic consequences — $10 trillion in lost Gross Domestic Product (GDP), more than 3 million lost jobs, and $2.4 trillion in lost exports. Two creative solutions are public-private partnerships (PPPs) and public-public partnerships (PUPs). Why then, are there not more PPPs and PUPs?