Florida has reduced debt that helps finance initiatives such as roads, schools and environmental projects by more than $7 billion over the past eight years, according to a new report from the state Division of Bond Finance.

The debt amount dropped from $28.2 billion in July 2010 to $21 billion through June 30, Ben Watkins, director of the bond finance agency, told Gov. Rick Scott and Cabinet members Tuesday. That represented a 25 percent reduction.