- Associated Press - Tuesday, December 9, 2014

TALLAHASSEE, Fla. (AP) - Florida’s amount of debt keeps dropping and has now fallen to $24.2 billion.

That’s according to an annual report presented Tuesday to Gov. Rick Scott and members of the Cabinet.

This marks the fourth year in a row that the amount of money the state owes has dropped. The state debt dropped $400 million during the fiscal year that ended on June 30.

State debt has declined $4 billion since 2010. Florida has been borrowing less money since then because an environmental land-buying program concluded. The state has also been able to refinance existing bonds with lower interest rates.

During his time as governor Scott has also made it a priority to limit borrowing. He called the latest report “good news” for the state.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide