Gov. Charlie Crist on Thursday put a 15 percent hold on general revenue spending for the last quarter of the budget year in case Florida’s financial swoon worsens.
His budget director, Jerry McDaniel, sent a memo to state agencies saying they would get only 85 percent of their appropriations when money is released at the start of the fourth quarter, which runs from April through June. McDaniel added his office will inform agencies as soon as possible on releasing remaining funds, citing a need for “an abundance of caution.”
The governor’s office did not put a dollar figure on the holdback, but it could amount to more than $700 million based on previously released revenue estimates.
