By Lynn Hatter
http://stream.publicbroadcasting.net/production/mp3/wfsu/local-wfsu-985274.mp3
Tallahassee, FL – For the first time in more than three years, Florida's budget forecast is pointing toward sunshine. The state is on track to have a budget surplus of about 270-million dollars. But as Lynn Hatter reports, the state's chief economist is telling lawmakers not to spend it all in one place.
State economist Amy Baker updated the Legislative Budget Commission on Florida's long-term financial outlook Wednesday. Baker says the projections show even after the state pays its obligations, it will still have about $274 million left over next year. But she also warns that the surplus is not guaranteed.
"The most important thing to remember from this is, we have a positive outlook, everything looks good. But if we reduce the revenue forecast or have an emergency, it will quickly evaporate."
Florida's revenue forecast is largely based off consumer spending, and any change in things like construction projects, credit conditions the stock market and consumer sentiment can alter that forecast.