Tennessee Finishes 2020-2021 Fiscal Year with a $3.1 Billion Budget Surplus

The State of Tennessee finished the 2020-2021 fiscal year with a $3.1 billion surplus in revenues, as compared to the budgeted estimates, Tennessee Department of Finance and Administration Commissioner Butch Eley reported Friday.

After adjusting for the increased revenue estimate of $1 billion recommended by the Funding Board in November 2020 and passed by the General Assembly on April 29, Eley announced total tax receipts for fiscal year 2020-2021 are $2.1 billion more than the budgeted estimates.

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June General Revenue in Florida Exceeds Economic Forecasts

Florida’s Historic Capitol and Florida State Capitol

The Florida Legislature’s Office of Economic and Demographic Research (EDR) reported just under $4.1 billion in general revenue (GR) for the month of June to cap off the 2020-2021 fiscal year (FY).

On Monday, the EDR released the report that shows $975.7 million (31.2%) more than the forecasted amount of $3.124 billion, which was updated on April 6th during the EDR’s last General Revenue Estimating Conference (GREC) for the 2020-2021 FY.  

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