Florida’s budget situation is looking better after several years of multi-billion dollar shortfalls.
State economist Amy Baker told a legislative panel meeting in Tallahassee Wednesday that no budget shortage is expected for the next fiscal year.
“We are constitutionally is good shape,” said Baker. “There is no need for us to do any fiscal strategies for the year because we are not projecting a budget gap for this period, which essentially means that the budget is growing more slowly than the revenues that you have available to you.”
Baker credits higher tax collections and some accounting maneuvers for the better outlook.
She added that the Legislature will be able to continue its policy of putting a billion dollars in reserves.
The budget for the current fiscal year is $70 billion.