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February 1, 1983 - (219 Pages, 75 MB) For the third year in a row, the Legislature faces a budget that does not contain sufficient funds to maintain the existing level of services provided to the people of California. If the budget estimates turn out to be accurate, 1983-84 will be the first year since 1977-78 in which state revenues exceed state expenditures. Whether, in fact, these estimates do prove to be accurate will depend largely on three factors: (1) the performance of the state's economy; (2) policy decisions made by the Legislature, and (3) decisions handed down by the courts. Estimated expenditures in 1982-83 are $1.5 billion greater than estimated resources available in the current year. Thus, unless actions are taken by the Legislature prior to June 30, 1983, or the economy (and hence revenues) performs better than anticipated, the state will end 1983 with a deficit of approximately $1.6 billion.
January 1, 1983 - Annual Report of the Legislative Analyst Fiscal Year 1981-82