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Florida state budget (2011-2012)
| Note: This article was last updated in 2012. Click here for more recent information on state budgets and finances. |
Surplus
Florida collected $23.62 billion in general revenue during FY2012, which was $1.07 billion, or 4.7 percent, more than in the previous budget year.[1]
Florida's taxes and other general state revenues came in $407.1 million above estimates.[1]
Reasons for the surplus include:
- Sales tax collections came in $152.3 million over estimate;
- $70 million in corporate taxes collected by the state in June 2012 that were not due until FY2013, which began July 1, 2012; and
- $300 million share of a $25 billion national settlement with major mortgage companies over allegations that they used deceptive foreclosure practices.[1]
Budget as passed
On May 26, 2011, Gov. Rick Scott signed a new $69 billion Florida budget.[2] The budget bill, Senate Bill 2000, can be found here. The budget was $4.6 billion smaller than 2006, and spending was down two percent from FY2011.[3]
Education spending
For four years Florida devoted between 24.8 and 25.6 percent of its budget K-12 education spending.[4]
| Fiscal Year | Total Spending[5] | Education Spending[6] | Percent Education Spending |
|---|---|---|---|
| 2009 | $159.5 billion | $40.0 billion | 25.0% |
| 2010 | $163.8 billion | $40.7 billion | 24.8% |
| 2011 | $160.7 billion | $40.5 billion | 25.2% |
| 2012 | $159.7 billion | $40.9 billion | 25.6% |
Footnotes
- ↑ 1.0 1.1 1.2 The Miami Herald "Fla. revenue $407.1M over estimate for budget year" July 27, 2012 (dead link)
- ↑ Miami Herald, Scott Signs New Florida Budget, May 26, 2011
- ↑ The St. Petersburg Times "Debt debate that divided Congress and hurt markets could affect Florida's budget" Aug. 12, 2011
- ↑ State Budget Solutions "Throwing Money At Education Isn't Working" Sept. 12, 2012
- ↑ USGovernmentSpending.com "Florida Government Spending Chart - Total Spending" Aug. 4, 2012
- ↑ http://www.usgovernmentspending.com/spending_chart_1997_2017ALb_13s1li111mcn_20t USGovernmentSpending.com "Florida Government Spending Chart - Education Spending"Aug. 4, 2012
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