Florida TaxWatch Looks at 2015 Budget Surplus

Florida TaxWatch noted on Wednesday that legislators will have a small surplus -- $336.2 million -- in the 2015 session. While this is the fourth year in a row there was a surplus, the projected surplus is less than half of what it was this year.

Dominic Calabro, the president and CEO of Florida TaxWatch, said the surplus was a result of job growth.

"More Floridians are working and paying their taxes, which has enabled our government to receive a budget surplus for the past four years," said Calabro on Wednesday. "However, even with a small surplus, it is crucial that lawmakers spend the hard-earned money of Florida taxpayers as carefully as they do for their own families."

"The $336 million surplus needs to be put into context," said Kurt Wenner, the vice president of tax research for Florida TaxWatch. "It is only 1.1 percent of projected general revenue spending. It is also based on leaving only $1 billion in reserves, much smaller than what recent legislatures have left. The budget process will again be very competitive and it is our hope that each project will be thoroughly vetted by the full Legislature."

"Florida has the opportunity to save hundreds of thousands more dollars through cost savings implementation, which would help put more money in the pockets of Floridians, or allow Florida to provide a higher level of service to its citizens," Calabro said.

The group also released its latest Budget Watch on Wednesday.