The state spending plan for 2007–08 includes total budget expenditures of $131.5 billion. This includes $102.3 billion from the General Fund and $29.2 billion from special funds, an increase of 4.3 percent from 2006–07. The state also expects to spend $14 billion in bond funds for infrastructure during the fiscal year. The enacted budget, with the Governor’s vetoes, assumed that the state would spend no more than it received in 2007–08 and end the year with a $4.1 billion reserve. Many of the budget solutions are of a one–time nature. Based on the 2007–08 budget plan’s policies, therefore, the state would once again face operating shortfalls of more than $5 billion in both 2008–09 and 2009–10.
[PDF] Letter to Senator Leno on State SpendingReport Nov 14, 2007
California's Fiscal Outlook: LAO Projections, 2007-08 Through 2012-13Report Aug 31, 2007
Major Features of the 2007 California Budget