State is flush with cash...for now
TALLAHASSEE - A $300 million surplus is being forecast for the state budget next year, but it gets a bit murkier after that.
A financial outlook Thursday showed the state on relative solid short-term footing - helped by record tourist levels - but budget shortfalls looming in 2021 and 2022, according to the Herald Tribune.
Although lawmakers cut funding for Visit Florida, the state's tourist marketing arm, by about one-third this year, tourists are arriving in the state at a record pace. More than 13% of the state's sales tax collections - the highest level in at least three years - came from tourist spending.
The state is on course for a $289 million surplus next year. But shortfalls of $486 million and $366 million the next two years in the forecast.