Florida’s general revenue for September surpassed projections, demonstrating resilience despite the impact of Hurricane Helene.
A new report from the Legislature’s Office of Economic & Demographic Research revealed that the state collected nearly $4.176 billion in general revenue for September, exceeding the forecast by $28.4 million.
This positive outcome is attributed to higher-than-expected earnings on state investments, which offset lower-than-projected sales and corporate income tax collections.
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While sales tax revenue fell slightly short of the forecast, the report notes that most sales taxes had already been collected before Hurricane Helene made landfall on September 26th. This suggests that the storm had a minimal impact on overall sales tax revenue for the month.
General revenue is a critical funding source for key state programs, including education, health care, and prisons. The positive revenue report is welcome news for lawmakers as they prepare to negotiate the annual state budget.
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