This week, Gov. Ron DeSantis announced that the state of Florida had a $21.8 billion surplus during the 2021-22 fiscal year.
The governor’s office noted this was the largest surplus in Florida’s history and a 21 percent increase over expectations thanks to unexpected revenue.
“Collections in May were $742 million above estimates, and preliminary data for June collections are approximately $950 million above estimates,” the governor’s office noted.
“Despite the headwinds created by the Biden administration’s policies, Florida is in a strong fiscal position because we preserved freedom and kept our economy open,” said DeSantis. “Our responsible policies have allowed us to make record investments to support our communities, promote education, protect the environment, and provide record tax relief for Floridians, all while building record reserves to protect the state against the reckless fiscal policies from Washington.”
Most of the surplus–$15.7 billion–comes from General Revenue while $2.7 billion was from the Budget Stabilization fund and another $2.8 billion from unallocated trust funds. Almost $500 million of the surplus comes from the Emergency Preparedness and Response Fund.
DeSantis signed a $109.9 billion budget for the 2022-23 fiscal year.
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