December 4, 2009.
Today the General Revenue Estimating Conference met to review collections and subsequently have released their estimates this evening.
Since the August Estimating Conference, total collections for the current year have been running above expectations. In response, the Estimating Conference increased current year revenue $338.4 million. This is good news and strengthens the fact that no current year reductions will be necessary.
For the Fiscal Year 2010-11, expected revenues were increased by $312.6 million to $21.4 billion. Although not a significant increase, it does signal stable revenue collections. However, this slight up-tick in revenue collections will still be insufficient to cover the state’s potential $1-$2.5 billion potential deficit for next year.
Additional detail on today’s estimating conference can be found at http://edr.state.fl.us/conferences/generalrevenue/grconference.htm.
If you have any questions please let me know.
Tim Jones
Chief Financial Officer
Board of Governors
State University System of Florida
325 West Gaines St., Suite 1652
Tallahassee, FL 32399-0400
850-245-9397 (Office)
850-245-9959 (FAX)
visit us at www.flbog.edu