Budget Shortfall Potentially on Horizon for State Legislators

With revenues below projections for the past couple of several months, state legislators may have to confront a budget shortfall for the coming fiscal year that could reach $2 billion to $3 billion.

Sen. Mike Bennett, R-Bradenton, said legislators may now be faced with such numbers as he commented on the future of funding for a state-sponsored drug treatment program during a Senate Justice Appropriations Committee meeting Thursday.

Bennett said shortfall numbers had been discussed during a morning meeting with Senate President Mike Haridopolos.

Haridopolos office was not immediately available for comment.

Members of the governors office, House and Senate are expected to meet Oct. 11 to revise the general-revenue numbers.

Last month, Amy Baker, coordinator of the Legislatures Office of Economic and Demographic Research, said revenue estimates for the 2012-13 fiscal year were starting to drop significantly.

The state had been looking at revenue to increase $1.2 billion above initial projections for the current budget year that ends June 30, 2012. The state also projected revenue would grow $1.7 billion the following fiscal year, potentially creating a $274 million surplus.

However, the preliminary August and September numbers have been lower than expected, Baker said.