Budget Briefs

Florida’s budget forecasts are looking better. Economists estimate that the State will have enough revenue to meet its FY 2012-2013 obligations and to contribute to a reserve fund. Slow State revenue growth is forecasted over the next two years, thanks in part to increasing tax collections and the previous year’s spending cuts.

Governor Rick Scott is cautiously optimistic about the estimates so he has asked state agencies to develop budgets with a 5% cut in funding for the 2013-2014 fiscal year. The Governor will release his proposed budget in January 2013, and the Legislature will begin its work on the budget once the session begins on March 5, 2013.

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