An Overview of State Expenditures 2007-08 [Publication Details]

Feb 21, 2007 - The Governor’s budget proposes total spending in 2007-08 of $130.8 billion, including $103.1 billion from the state’s General Fund and $27.7 billion from its special funds. This total budget-year spending is $4.2 billion higher than current-year spending—an increase of 3.3 percent. Of total budget-year spending, General Fund spending accounts for about 80 percent.
https://lao.ca.gov/Publications/Detail/1555

State Fiscal Picture 2007-08 [Publication Details]

Feb 21, 2007 - Adoption of the plan would also leave the state with large operating shortfalls in future years, unless additional corrective actions are taken. Thus, the Legislature will face major challenges in crafting a budget for the coming year.
https://lao.ca.gov/Publications/Detail/1559

2007-08 Budget: Perspectives and Issues [Publication Details]

Feb 21, 2007 - We estimate that the Governor’s budget plan would result in 2007-08 expenditures exceeding revenues by $2.6 billion. This would leave the state with a $726 million year-end deficit, compared to the Governor’s January 10th estimate of a $2.1 billion positive reserve. In addition, the state would face operating deficits of $3.4 billion in 2008-09, $2.5 billion in 2009-10, and $1.
https://lao.ca.gov/Publications/Detail/1560

The Governor’s Tax Proposal [Publication Details]

Feb 21, 2007 - The budget contains two tax-change proposals. The first is to permanently repeal the existing teacher retention tax credit, which was adopted in 2000 but was temporarily suspended in four of the past six years.
https://lao.ca.gov/Publications/Detail/1612

Proposition 98 Update [Publication Details]

Feb 21, 2007 - Proposition 98 Update [Publication Details] HTML Description: Compared to the Governor’s budget, we estimate less General fund revenue in both the current and budget years. Given the particular formulas that drive Proposition 98, our revenue estimates result in a higher minimum guarantee in 2007-08.
https://lao.ca.gov/Publications/Detail/1613

Career Technical Education [Publication Details]

Feb 21, 2007 - Our review raises significant questions about the state’s approach to implementing the program and the proposed $52 million budget-year expenditure plan. We think the Legislature could strengthen local implementation of the program by using these funds to establish a seven-year grant program to improve CTE at the county or regional level.
https://lao.ca.gov/Publications/Detail/1616

Perspectives on State Revenues 2007-08 [Publication Details]

Feb 21, 2007 - Following two years of major increases, it appears that revenue growth is slowing sharply in 2006-07, reflecting the impacts of a more moderate economic expansion and a dip in income from capital gains. The budget assumes that revenue growth will revive somewhat in 2007-08, led by an improving economy beginning later this year.
https://lao.ca.gov/Publications/Detail/1557

Continued Help America Vote Act Implementation [Publication Details]

Feb 21, 2007 - The administration proposes $10.7 million in spending in 2007-08 for the continued implementation of federal election reform. We recommend that the Secretary of State provide an update on source code review since no funds have been spent this year. In addition, we recommend a reduction in the administrative budget to reflect the reduced activities in the budget year.
https://lao.ca.gov/Publications/Detail/1572

Appropriating Proposition 1B Funds [Publication Details]

Feb 21, 2007 - Proposition 1B authorizes about $20 billion in bond funds for transportation. The measure allocates specific amounts of bond funding for particular transportation uses, and requires that the funding be subject to legislative appropriation.
https://lao.ca.gov/Publications/Detail/1576

Resources Bonds [Publication Details]

Feb 21, 2007 - The state would spend substantially higher bond amounts than in the current year, particularly for flood management. To ensure the effective and efficient implementation of the new bonds, we recommend that the Legislature set funding priorities to guide new programs created by the bonds; establish appropriate cost-sharing arrangements; ensure related programs are coordinated; and
https://lao.ca.gov/Publications/Detail/1586