Florida Fiscal Statistics

StatisNostics/State Financials/Florida

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20122021

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State Revenue Analysis (Florida: 2012–2021)

Population: 19,355,257 → 21,477,737 (11.0% change)

Overall Revenue Trends

Total Revenue▲ 56.9%

$73,432,084,000 (2012)→$115,231,275,000 (2021)

Per Capita Revenue▲ 41.4%

$3,794 (2012)→$5,365 (2021)

Fund Balances▲ 42.6%

$67,376,318,000 (2012)→$96,111,935,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 5.2%

Major Tax Revenue

Property Tax▼ 100%

$140,000 (2012)→$0 (2021)

Sales Tax▲ 54%

$19,403,788,000 (2012)→$29,873,668,000 (2021)

Utility Revenue

Solid Waste Charges▼ 99.8%

$24,318,000 (2012)→$43,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Education Other State Charges Not Elsewhere Classified▲ 963.9%

$1,989,000→$21,160,000

Federal Intergovernmental Health & Hospitals▲ 399.6%

$1,954,151,000→$9,763,246,000

Regular Highway Charges▲ 336.8%

$11,488,000→$50,180,000

Declining/Slowest Growing Sources

Solid Waste Charges▼ 99.8%

$24,318,000→$43,000

Fines & Forfeits▼ 67.3%

$745,036,000→$243,308,000

Miscellaneous Commercial Activity Not Elsewhere Classified Charges▼ 51.2%

$4,030,867,000→$1,967,760,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11%

Estimated: $127,880,105,037

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Total General Sales Taxes26.4%

Federal Intergovernmental Public Welfare16.9%

Federal Intergovernmental Education5.9%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges5.5%

Public Utilities Tax4.3%

Motor Fuels Sales Tax3.1%

Unemployment - Contribution3.0%

Corporation Net Income Tax2.7%

Federal Intergovernmental Highways2.7%

Federal Intergovernmental Health & Hospitals2.7%

Miscellaneous General Revenue Not Elsewhere Classified2.6%

Higher Education Tuition Charges2.1%

Documentary & Stock Transfer Tax2.0%

Net Lottery Revenue2.0%

Motor Vehicle License1.8%

Federal Intergovernmental Other1.6%

Toll Highway Charges1.5%

Donations From Private Sources1.3%

Interest Earnings1.2%

All Other Not Elsewhere Classified Charges1.0%

Fines & Forfeits1.0%

Insurance Premium Tax1.0%

Higher Education Auxiliary Charges0.9%

Hospital Charges0.9%

Other Selective Sales Taxes0.9%

Alcoholic Beverage Sales Tax0.7%

Federal Intergovernmental Housing & Community Development0.7%

Tobacco Sales Tax0.5%

Motor Vehicle Operators License0.5%

Local Intergovernmental Health & Hospitals0.4%

Corporation License Tax0.4%

Federal Intergovernmental Other Natural Resources0.4%

Occupation & Business License Not Elsewhere Classified0.3%

Amusement Tax0.2%

Federal Intergovernmental Employment Security Administration0.2%

Natural Resources Not Elsewhere Classified Charges0.1%

Local Intergovernmental Other0.1%

Federal Intergovernmental Sewerage0.1%

Severance Tax0.1%

Sale of Property0.1%

Parks & Recreation Charges0.1%

Federal Intergovernmental Water Utilities0.1%

Public Utility License Tax0.0%

Solid Waste Charges0.0%

Transit Utilities Revenue0.0%

Hunting & Fishing License0.0%

Amusement License Tax0.0%

Regular Highway Charges0.0%

Rents0.0%

Local Intergovernmental Education0.0%

Parimutuels Tax0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Transit Utilities0.0%

Other License Tax0.0%

Workers Compensation - Interest Earnings0.0%

Federal Intergovernmental Transit Utilities0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Death & Gift Tax0.0%

Property Tax0.0%

2021 Revenue Sources

Total General Sales Taxes25.9%

Federal Intergovernmental Public Welfare18.0%

Federal Intergovernmental Health & Hospitals8.5%

Federal Intergovernmental Education5.8%

Miscellaneous General Revenue Not Elsewhere Classified5.7%

Documentary & Stock Transfer Tax4.2%

Corporation Net Income Tax3.0%

Federal Intergovernmental Other2.8%

Motor Fuels Sales Tax2.5%

Net Lottery Revenue2.1%

Federal Intergovernmental Highways1.8%

Higher Education Tuition Charges1.7%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges1.7%

Toll Highway Charges1.6%

Donations From Private Sources1.5%

Public Utilities Tax1.5%

Motor Vehicle License1.3%

Insurance Premium Tax1.3%

Hospital Charges1.1%

Tobacco Sales Tax1.0%

Unemployment - Contribution1.0%

Interest Earnings0.9%

Other Selective Sales Taxes0.9%

All Other Not Elsewhere Classified Charges0.8%

Higher Education Auxiliary Charges0.6%

Corporation License Tax0.5%

Federal Intergovernmental Housing & Community Development0.4%

Alcoholic Beverage Sales Tax0.3%

Local Intergovernmental Health & Hospitals0.2%

Fines & Forfeits0.2%

Federal Intergovernmental Employment Security Administration0.2%

Motor Vehicle Operators License0.2%

Federal Intergovernmental Other Natural Resources0.2%

Amusement Tax0.1%

Occupation & Business License Not Elsewhere Classified0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Sale of Property0.1%

Local Intergovernmental Other0.1%

Parks & Recreation Charges0.0%

Workers Compensation - Other Contributions0.0%

Federal Intergovernmental Sewerage0.0%

Regular Highway Charges0.0%

Federal Intergovernmental Water Utilities0.0%

Local Intergovernmental Transit Utilities0.0%

Severance Tax0.0%

Unemployment - Interest Revenue0.0%

Public Utility License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Transit Utilities Revenue0.0%

Federal Intergovernmental Transit Utilities0.0%

Local Intergovernmental Education0.0%

Hunting & Fishing License0.0%

Amusement License Tax0.0%

Other License Tax0.0%

Parimutuels Tax0.0%

Workers Compensation - Interest Earnings0.0%

Alcoholic Beverage License Tax0.0%

Housing & Community Development Charges0.0%

Solid Waste Charges0.0%

Key Insights

1Total revenue increased by 56.9% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 11.0%, while per-capita revenue changed by 41.4%.
3The state's fund balances increased by 42.6%, suggesting improved fiscal health.

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State Expense Analysis (Florida: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 62%

$24,490,647,000→$39,581,585,000

Per Capita Spending▲ 46%

$1,265→$1,843

Population Trends

Population Change▲ 11%

19,355,257 (2012)→21,477,737 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 29%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 34%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 16%

$0 (2012)→$0 (2021)

General Expenses▲ 583%

$0 (2012)→$0 (2021)

Florida Key Insights

1General expenses increased dramatically by 583%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 41%

$33,921,010,000 (2012)→$19,882,159,000 (2021)

Industrial Revenue Debt▼ 64%

$4,219,516,000 (2012)→$1,509,222,000 (2021)

Per Capita Debt▼ 47%

$1,753 (2012)→$926 (2021)

Population Trends

Population Change▲ 11%

19,355,257 (2012)→21,477,737 (2021)

Debt Management

Most Recent Year (2021)

Issued:$2,990,721,000

Retired:$4,633,490,000

Net Change:$-1,642,769,000

Debt Retirement Trend

$8,728,284,000 → $4,633,490,000▼ 47%