Governor Charlie Crist exclaimed “Hallelujah” on Tuesday, when he learned from the Revenue Director Lisa Echeverri, that revenues collected by the state for the quarter ending June 2009, “made estimate” or slightly exceeded the budget forecast.
This is the first time that actual revenues lined up with budget estimates or exceeded the forecast in three years.
According to Echeverri, “Since November, 2006, the state had not been making estimate on the revenue”. However, she said that, revenue estimates were adjusted downward and made more realistic, in terms of the likely tax collections.
While the difference between the revenue estimate and actual collections was about $99 million, it was enough to offer a “glimmer of hope”, to Crist, as deeper cuts in expenditures are not imminent.
Crist though is cautious for, while he was pleased with the change in direction, an uptick in the last quarter isn’t a sure sign of recovery, he said.
“It’s been about three years since we’ve had revenues exceed the estimates in Florida. I know it’s only slightly above what the estimates are, but any glimmer of good news is good news.”
