State economists say Florida’s next governor may inherit a budget surplus during his first year in office. The is expected to bring in enough money in 2019 to meet its needs for public schools and health care programs while leaving $1 billion available for reserves and even some money for a small round of tax cuts. The state’s overall budget, which includes billions in federal grants, is slightly under 90 billion dollars. Florida’s constitution requires that state economists draw up a three-year financial outlook each fall that looks at spending projections in key programs such as Medicaid and available tax revenues.
