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4,622 Publications Found
February 20, 2002 - A crucial issue is posed for the Legislature by a potential General Fund increase needed for Proposition 98 of about $825 million. We discuss ways for the Legislature to act strategically in response to this challenge, in order to minimize impacts on non-Proposition 98 programs, yet still meet important K-14 education priorities.
February 20, 2002 - We recommend the Legislature provide funding for higher education capital outlay based on statewide priorities and criteria, using reasonable construction cost guidelines, and based on year-round operation. We also recommend the Legislature consider the extent to which existing buildings at a campus are underutilized when making capital outlay funding decisions, and consider UC research revenue as a primary source of funding for UC research facilities.
February 20, 2002 - We recommend that the Legislature ask the Bureau of State Audits to conduct a performance audit of the Department of General Services relative to its project management activities to evaluate (1) the appropriateness of fees charged, (2) the method of determining fee levels, and (3) the quality control process in place for budget development.
February 20, 2002 - We recommend the Legislature defer approval of new capital outlay projects until the infrastructure plan has been submitted and the Legislature has had an opportunity to review it. We also recommend the Legislature appoint a select committee to make recommendations on how the Legislature might effectively respond to the infrastructure plan when it is submitted.
February 20, 2002 - Perspectives on the state's fiscal condition and the budget proposed by the Governor for 2002-03. We find that the state will need to identify and additional $5 billion in budget solutions beyond those proposed by the administration.
February 20, 2002 - Based on our projections of revenues and expenditures, adoption of the Governor's spending policies would result in a year-end deficit of about $4.5 billion in 2002-03. This represents a $5 billion deterioration in the budget condition relative to the administration's estimate, which assumes a $511 million reserve.
February 20, 2002 - The U.S. and California economies are nearly one year into a recession that was initially caused by such factors as sharp declines in spending by businesses on capital goods, and then aggravated by the September 11 terrorist attacks. The downturn has been mild so far in terms of employment, although more severe in terms of income losses. Our forecast is that the recession will conclude in the next couple of months and that a sustained expansion will begin before mid-year. While employment will recoup its losses by the end of 2002, the decline in income related to stock options will be longer lasting. Our outlook is predicated on (1) a rebound in high-tech spending in the second half of the year and (2) the absence of significant terrorism-related disruptions to the national or state economies.
February 20, 2002 - The state is facing a major budget shortfall caused largely by an unprecedented decline in tax receipts. Specifically, General Fund revenues are projected to fall by over 14 percent in 2001-02, just two years after the state experienced a more than 23 percent increase. In addition, basic revenue volatility has increased in recent years, giving the revenue forecast greater uncertainty.
February 20, 2002 - The Governor's budget proposes total state spending in 2002-03 of $97.9 billion, including spending from both the state's General Fund and its special funds (see Figure 1). Total budget-year spending is slightly less than estimated current-year spending—by $402 million (0.4 percent).
February 20, 2002 - We estimate that the state will need to identify $5 billion in additional budget solutions beyond those proposed by the administration. This compendium contains more than 100 expenditure reduction/revenue raising options to help the Legislature address this larger shortfall. In better fiscal times we would not necessarily put such options on the table, however we offer them in the context of a need to solve a growing budget shortfall.