Florida Fiscal Statistics

StatisNostics/State Financials/Florida

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20122023

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State Revenue Analysis (Florida: 2012–2023)

Population: 19,355,257 → 21,781,128 (12.5% change)

Overall Revenue Trends

Total Revenue▲ 95.8%

$73,432,084,000 (2012)→$143,806,499,000 (2023)

Per Capita Revenue▲ 74%

$3,794 (2012)→$6,602 (2023)

Fund Balances▼ 100%

$67,376,318,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 6.4%

Major Tax Revenue

Property Tax▼ 100%

$140,000 (2012)→$0 (2023)

Sales Tax▲ 106%

$19,403,788,000 (2012)→$39,969,175,000 (2023)

Utility Revenue

Solid Waste Charges▼ 99.5%

$24,318,000 (2012)→$131,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Education Other State Charges Not Elsewhere Classified▲ 924.2%

$1,989,000→$20,371,000

Regular Highway Charges▲ 529.8%

$11,488,000→$72,356,000

Sale of Property▲ 300.7%

$48,870,000→$195,828,000

Declining/Slowest Growing Sources

Solid Waste Charges▼ 99.5%

$24,318,000→$131,000

Amusement License Tax▼ 76.9%

$12,000,000→$2,774,000

Fines & Forfeits▼ 65.1%

$745,036,000→$260,384,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11.9%

Estimated: $160,913,990,991

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

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%

2023 Revenue Breakdown

Total General Sales Taxes27.8%

Federal Intergovernmental Public Welfare21.6%

Federal Intergovernmental Education8.5%

Miscellaneous General Revenue Not Elsewhere Classified5.2%

Corporation Net Income Tax3.8%

Documentary & Stock Transfer Tax3.1%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges2.3%

Motor Fuels Sales Tax2.2%

Federal Intergovernmental Health & Hospitals2.1%

Federal Intergovernmental Other2.0%

Net Lottery Revenue1.9%

Higher Education Tuition Charges1.8%

Federal Intergovernmental Highways1.7%

Toll Highway Charges1.6%

Hospital Charges1.4%

Insurance Premium Tax1.4%

Public Utilities Tax1.4%

Donations From Private Sources1.3%

Unemployment - Contribution1.2%

Motor Vehicle License1.1%

Interest Earnings0.9%

Higher Education Auxiliary Charges0.8%

All Other Not Elsewhere Classified Charges0.8%

Federal Intergovernmental Housing & Community Development0.8%

Other Selective Sales Taxes0.8%

Tobacco Sales Tax0.7%

Alcoholic Beverage Sales Tax0.2%

Local Intergovernmental Health & Hospitals0.2%

Corporation License Tax0.2%

Fines & Forfeits0.2%

Federal Intergovernmental Other Natural Resources0.2%

Federal Intergovernmental Employment Security Administration0.2%

Occupation & Business License Not Elsewhere Classified0.1%

Sale of Property0.1%

Motor Vehicle Operators License0.1%

Amusement Tax0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Sewerage0.1%

Workers Compensation - Other Contributions0.1%

Local Intergovernmental Other0.1%

Parks & Recreation Charges0.1%

Regular Highway Charges0.1%

Unemployment - Interest Revenue0.0%

Public Utility License Tax0.0%

Severance Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Local Intergovernmental Education0.0%

Hunting & Fishing License0.0%

Transit Utilities Revenue0.0%

Other License Tax0.0%

Alcoholic Beverage License Tax0.0%

Workers Compensation - Interest Earnings0.0%

Amusement License Tax0.0%

Housing & Community Development Charges0.0%

Solid Waste Charges0.0%

Key Insights

1Total revenue increased by 95.8% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 12.5%, while per-capita revenue changed by 74.0%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Florida: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 293%

$24,490,647,000→$96,342,358,000

Per Capita Spending▲ 250%

$1,265→$4,423

Population Trends

Population Change▲ 12.5%

19,355,257 (2012)→21,781,128 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 66%

$486,854,000 (2012)→$805,996,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 62%

$825,797,000 (2012)→$1,341,810,000 (2023)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2023)

Administrative Expenses

Financial Administration▲ 110%

$560,745,000 (2012)→$1,175,398,000 (2023)

General Expenses▲ 430%

$801,403,000 (2012)→$4,250,720,000 (2023)

Florida Key Insights

1Per capita expenditures grew by 250%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 430%, which may indicate classification changes, new initiatives, or reporting adjustments
3Financial Administration was the fastest growing major expense category at 110% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▼ 36%

$33,921,010,000 (2012)→$21,778,189,000 (2023)

Industrial Revenue Debt▼ 100%

$4,219,516,000 (2012)→$0 (2023)

Per Capita Debt▼ 43%

$1,753 (2012)→$1,000 (2023)

Population Trends

Population Change▲ 12.5%

19,355,257 (2012)→21,781,128 (2023)

Debt Management

Most Recent Year (2023)

Issued:$1,305,312,000

Retired:$2,205,685,000

Net Change:$-900,373,000

Debt Retirement Trend

$8,728,284,000 → $2,205,685,000▼ 75%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward lower debt levels.