Research Library

Budget & Appropriations

We have a once-in-a-generation opportunity to invest in Florida’s future

Budget & Appropriations, Economic Development, In the News, Taxpayer Guide
/ Budget & Appropriations, Economic Development, In the News, Taxpayer Guide / 3 minutes of reading

The 2022 legislative session begins today and, despite the pandemic, Florida is in an enviable fiscal position. The state’s current budget is record in size, as are our budget reserves. Revenue collections are back above pre-pandemic levels, and this Legislature will have even more money available for the next budget cycle, made possible by both strong economic performance and billions in unappropriated federal funds.

Florida Will Receive Billions From The Infrastructure Investment and Jobs Act, But Is It The State’s Fair Share?

Budget & Appropriations, Research, Taxes, Transportation
/ Budget & Appropriations, Research, Taxes, Transportation / 3 minutes of reading

The Infrastructure Investment and Jobs Act (IIJA),1 signed by President Biden on November 15, 2021, will make a significant investment in the nation’s transportation system and other infrastructure. Billions of dollars will be distributed to the states for a wide range of projects, including all modes of transportation, broadband, cyber security, water infrastructure, energy, climate change, resiliency, and pollution mitigation. Florida will get a sizable chunk of these funds.

Budget Watch – FLORIDA GENERAL REVENUE COLLECTIONS HAVE OUTPACED ESTIMATES FOR 14 CONSECUTIVE MONTHS

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

The Florida TaxWatch Budget Watch series has been detailing the rapid recovery of the state government’s revenue collections from the initial precipitous drop in the early months of the COVID-19 pandemic. We have highlighted how current General Revenue (GR) estimates are back above the last pre-pandemic estimates. Coupled with billions of dollars in federal aid, Florida is in enviable fiscal shape as the Legislature heads into the 2022 Regular Session.

Navigating Federal Pandemic Relief: Following billions in stimulus dollars, where do we go from here?

Budget & Appropriations, COVID Recovery, Research
/ Budget & Appropriations, COVID Recovery, Research / 4 minutes of reading

The massive amount of federal funding provided in the six stimulus acts provides an unprecedented opportunity to improve Florida and fund programs and infrastructure that have had long-standing backlogs with few past feasible opportunities to address to this degree.

Budget Watch – What a Difference a Year Makes

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

Last year, COVID-19’s arrival in Florida and the attendant economic shutdown had state forecasters—and virtually everyone else–predicting gloomy fiscal times for Florida. The 2020 legislative Long-Range Financial Outlook estimated that the 2021 Legislature would be facing a budget shortfall of $2.7 billion, and without significant spending cuts, the shortfalls would continue for at least two more years.

2021 Budget Turkey Watch Report

Budget & Appropriations, Budget Turkeys, Research, Taxpayer Guide
/ Budget & Appropriations, Budget Turkeys, Research, Taxpayer Guide / 1 minute of reading

The 2021 Budget turkey Watch report: an analysis of the transparency and accountability of the Budget processis the result of an annual independent review of Florida’s FY2021-22 budget by Florida TaxWatch. Budget Turkeys are items, usually local member projects, placed in individual line-items or accompanying proviso language that are added to the final appropriations bill without being fully scrutinized and subjected to the budget process.

General Revenue Estimates for the Current Budget Year Reduced by $3.4 Billion

Budget & Appropriations, Research
/ Budget & Appropriations, Research / 3 minutes of reading

After 128 months of economic expansion through February 2020, the global coronavirus pandemic brought on the largest post-war contraction in U.S. history. With the resulting closure or slowdown of businesses, record unemployment, and a loss of tourism, Florida’s economy is suffering. The impact on government revenue has been and will continue to be profound. The General Revenue Estimating Conference met on August 14 and reduced the revenue projections by $3.420 billion in the current budget year and $1.994 billion in FY2021-22. This follows news that actual collections in FY2019-20 fell $1.9 billion short of the estimate. 

Budget Watch – COVID-19 Impact

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

As Florida continues its battle with the COVID-19 pandemic, the state has released General Revenue (GR) collections data for June (the last month of the FY19-20 fiscal year).1 Collections came in $427.8 million (13.4 percent) below estimate, following losses of $878.1 million (29.4 percent) in April and $779.6 million (26.4) percent in May. Because collections were running a bit above estimate before the pandemic hit, the $2.1 billion loss in the last quarter puts Florida down $1.9 billion (5.7 percent) for the year. 

2020 Taxpayers Guide to the FY2020-21 Florida State Budget

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

After deducting the Governor’s vetoes, the net result is FY2020-21 appropriations totaling $92.270 billion, still a $1.3 billion increase over the previous year. As is usually the case, it is the largest state budget in history. In addition to many facts and figures explaining this year’s budget, past data are also provided to put it in historical context. We hope this annual budget pocket guide gives you the information you need to better understand where and how your hard-earned tax dollars are being spent.

Budget Watch – General Revenue $1.455 Billion Below Estimate

Budget & Appropriations, Research
/ Budget & Appropriations, Research / 1 minute of reading

General Revenue (GR) collections for the month of May came in $779.6 million (26.4 percent) below estimate. This news comes from the new Monthly Revenue Report, just released by the Office of Economic and Demographic Research.1 It is somewhat surprising that the amount by which May GR collections fell short of the previous estimates is less than that of April ($878.1 million). May collections largely reflect sales activity in April, a month that was almost entirely under the statewide ‘Safer at Home’ order.

Bringing Florida’s Budget Back From COVID-19

Budget & Appropriations, Cost Savings, Research
/ Budget & Appropriations, Cost Savings, Research / 5 minutes of reading

As the nation recovers from one of the worst economic recessions in history, Florida continues to battle unprecedented fiscal challenges and budget shortfalls that have made business-as-usual in state government unsustainable. In response to this crisis, this report presents immediately actionable ideas in the event that a significant budget deficit occurs in FY2020-21.

2020 Budget Turkey Watch Report

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

The report promotes additional oversight and integrity in the state’s budgeting process based on the principle that: because money appropriated by the Legislature belongs to the taxpayers of Florida, the process must be transparent and accountable, and every appropriation should receive deliberation and public debate. The budget review identifies appropriations that circumvent transparency and accountability standards in public budgeting. 

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