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Overview of the Governor's Budget Clear Filters
January 13, 2004 - We believe that the Governor's proposal provides a solid starting point for budget deliberations. It includes realistic revenue and caseload assumptions, as well as real and ongoing solutions from most areas of the budget. At the same time, however, it presents the Legislature with numerous policy issues and concerns. For example, its reductions would have far-reaching consequences for the scope of state services in a variety of program areas. Some of its proposals lack detail or have savings estimates that may not be achievable. And, even with the serious spending reductions it proposes in 2004-05 the plan does not fully address the state's ongoing budget problem—leaving a roughly $6 billion shortfall between expenditures and revenues in 2005-06.
January 15, 2003 - On January 10, the Governor released a plan for addressing his projected $34.6 billion General Fund budget shortfall. Although this shortfall estimate and the level of required solutions is somewhat overstated, the problem is still enormous. The Legislature faces a formidable task in carefully evaluating the plan's individual elements and the many important policy issues it raises. It is also important that the Legislature take early and decisive action to get the state's fiscal house in order.
January 15, 2002 - The 2002-03 Governor's Budget offers a plan for addressing the state's $12-plus billion budgetary shortfall. While "on paper" the plan appears to work, many of its assumptions are overly optimistic, it relies largely on one-time solutions, and it results in substantial long- term out-year costs. Moreover, the plan does not resolve the state's budgetary imbalance in subsequent years.
January 12, 2001 - The Governor released his proposed state budget on January 10th. The budget assumes $2.3 billion less in resources than the $10.3 billion in uncommitted funds we reported in November, primarily reflecting the recent slowing in the national economy. The budget proposal allocates the remaining $8 billion in uncommitted resources to finance increased spending ($5.5 billion, including major new initiatives in the areas of education and energy), cut taxes ($0.1 billion), and provide for a budgetary reserve ($2.4 billion).
January 14, 2000 - Recent economic and revenue trends have continued to far surpass expectations. These positive trends are likely to result in revenues exceeding the Governor's budget forecast by $3 billion in the current year and budget year combined. We believe that approximately half of these additional revenues should be devoted to one-time purposes, while the remainder could be available for ongoing commitments, whether for new spending or tax relief.
January 15, 1997 - On January 9, the Governor released his 1997-98 state budget proposal. California's continued economic recovery combined with a variety of other factors have enabled the Governor to submit a balanced budget with a modest reserve, moderate expenditure growth including significant increases for education, and a corporate tax reduction.
January 1, 1994 - The 1994-95 Governor's Budget recognizes that the two-year budget plan adopted last June has been undermined by the continuing stubborn state recession. Faced with an $8 billion budget funding gap for 1993-94, the Legislature and Governor adopted a two-year plan to achieve a balanced budget in 1994-95. That plan now is $4.9 billion out of balance based on the state's current revenue and spending trends identified in the 1994-95 Governor's Budget.
January 1, 1993 - As has been the case in each of the past four years, the 1993-94 Governor’s Budget recognizes a substantial decline in the state’s fiscal fortunes. The continuing state recession has once again undermined the state’s current-year spending plan, and will force the Legislature and the Administration into more painful choices as they struggle to balance the budget for the 1993-94 fiscal year. Even without attempting to provide for a prudent reserve, this task will require spending cuts or revenue increases conservatively estimated at $8.6 billion over the next 18 months. Given the magnitude of actions already taken in recent years, resolving this year’s fiscal crisis requires a fundamental rethinking of governmental responsibilities in California.
January 1, 1992 - This policy brief summarizes the current fiscal outlook and the major proposals in the Governor's budget plan. It provides an assessment of that plan and describes additional steps that need to be taken to arrive at a fiscally sound 1992-93 budget.
January 23, 1991 - Underlying structural budget problems and the onset of a national recession have combined to pose extremely difficult challenges for the 1991-92 state budget. The budget plan for the current year, adopted last summer, is now expected to leave the state with a large deficit on June 30, 1991. In addition, projected revenues for 1991- 92 will fall far short of the level needed to both maintain current levels of services and restore the state’s reserve fund.