As the nation recovers from one of the worst economic recessions in history, Florida continues to battle unprecedented fiscal challenges and budget shortfalls that have made business-as-usual in state government unsustainable. “Clearly government’s burn rate has increased while revenues have decreased, however it’s difficult to budget for the future without credible revenue forecasts, which is needed now more than ever,” Patronis said in a statement. And any deficit that exceeds 1.5 percent of the state’s general revenue fund — or about $500 million this year — must be closed with budget cuts passed by the Florida Legislature. Next year—as well as future years—is a different story. Unless spending reductions and other budgetary measures are enacted for the new fiscal year, revenue collections may not cover appropriations. The FY2020-21 budget was built on revenue estimates made before the coronavirus began impacting the economy. Sink, a Democrat, said even as DeSantis deals with the day-to-day crisis, the state should, for example, be looking closely at inventory on hand to understand where it can cut costs. Weather forecasters were watching seven tropical disturbances in the Atlantic basin as of Monday. Comments . “The big driver is clearly the pandemic,” Baker said. DeSantis stripped $1 billion before signing a $92.27 billion budget two days before it took effect on July 1. The October employment report was stronger than predicted, with a 638,000 rise in nonfarm payrolls and a full percentage point decline in the unemployment rate, suggesting the economy continues to improve despite the rise in the number of COVID-19 cases. He graduated from the University of Florida.

East Providence, despite the pandemic, has several economic development projects in the pipeline, including brownfield conversions of oil tanks to mixed-use. It contains two sections: the first section offers for consideration measures that can be taken to address a potential shortfall; and the second section contains what former governor Jeb Bush would have referred to as “Big Hairy Audacious Goals,” considerations designed to promote the state’s financial sustainability over the long term, because even if the federal aid allows the Legislature to avoid a special session, lawmakers will likely have to make some tough budget decisions during the next regular session in March 2021. Florida’s budget relies heavily on sales taxes, a system that works when tourism is flourishing and money flows from visitors flocking to theme parks and beaches. Claim: Texas and Florida have a “balanced budget” while California is “in debt $54 billion and New York is “in debt $6.1 billion.” There may also be some unobligated trust fund balances available to be “swept” (transferred) into GR, but many trust funds will also be impacted by COVID-19-related revenue losses. A second potential black swan event could be a "significant second recession" as a result of the ongoing pandemic. The state has only tallied actual general revenue (GR) collections through April 2020 and that month’s revenue largely reflects March 2020 sales tax activity.

Despite these efforts, as of June 16, there have been more than 80,000 confirmed cases, affecting every county in Florida.

Since then, the number of COVID-19 cases reported statewide has increased dramatically.

Thomasville, Published January 28, 2011 at 9:55 AM EST, TCC To Launch Pilot Program Aimed At Helping Returning Citizens, Florida Experts Brainstorm Ways To Meet Population Growth Demands While Protecting Natural Water Supply, FDA Advisory Panel Rejects Controversial Alzheimer's Drug. Local governments closed beaches and imposed curfews.

But state officials say they have breathing room, because that switch won’t flip until the state has exhausted its rainy day fund.

State parks were closed. Published May 1, 2019 Updated May 1, 2019 TALLAHASSEE — Florida lawmakers signed off on a $91.1 billion state budget late Tuesday, the first budget of the Gov. In response to this crisis, this report presents immediately actionable ideas in the event that a significant budget deficit occurs in FY2020-21. As the week drew to a close, municipal bond market participants looked ahead to a smaller-than-usual supply slate dominated by revenue bond deals. The outbreak has been likened to a silent hurricane, but the damage to the state’s current $91 billion-budget from this noiseless storm remains undocumented and, as of yet, barely acknowledged in Tallahassee. For reprint and licensing requests for this article. State economists likely won't have a full picture of March sales tax collections before May. Under that interpretation, the Legislature would be forced to act only if revenue dropped by $2.2 billion, or about 6.6 percent of this year’s projected general revenue collections. Florida’s state government has received $4.6 billion in aid and more federal funds could be coming as Congress continues to debate further stimulus packages. The Governor ordered all bars and nightclubs to be shut down statewide.

Even that data, however, won't make it easy to project the full impact. Preliminary data indicates that tourism accounted for 14.5% of sales taxes paid or $3.7 billion in fiscal 2019, according to the outlook report.

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