Our forecast of California’s General Fund revenues and expenditures shows that the state must address a General Fund budget problem of $20.7 billion between now and the time the Legislature enacts a 2010–11 state budget plan. The budget problem consists of a $6.3 billion projected deficit for 2009–10 and a $14.4 billion gap between projected revenues and spending in 2010–11. Addressing this large shortfall will require painful choices—on top of the difficult choices the Legislature made earlier this year.
[PDF] March 2010 Fiscal UpdateReport Jan 12, 2010
[PDF] The 2010-11 Budget: Overview of the Governor’s BudgetReport May 21, 2009
Overview of the 2009-10 May Revision