After the hurricane, Florida may have a financial storm

TALLAHASSEE — As Florida deals with a catastrophic, dangerous hurricane, it may have a financial storm to deal with.

The annual budget forecast released this week shows, despite an ongoing economic recovery, Florida is expected to bring in just enough money to meet its spending needs.

That forecast shows the state will have a surplus of just $52 million during the fiscal year that starts in July 2018. The new estimate does not take into account the potential impact that will come from Hurricane Irma.

The state’s finances are also projected to worsen in the two years after Gov. Rick Scott leaves office.

Amy Baker, the state economist whose office helps put together the forecast, says a look at previous hurricanes showed that the state wound up spending more as a result of the disaster.

 

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