This afternoon, Governor Jerry Brown presented his Department of Finance’s revenue forecast for 2011-12 pursuant to Chapter 41, Statutes of 2011 – the so-called “trigger cuts” that were approved as a component of the 2011-12 state budget package. Department of Finance Director Ana Matosantos outlined both the revenue forecast and the resultant reductions that will [...]
Everywhere you look: bad news. Not here! Check out some reasons for tempered optimism.
State General Fund receipts for May came in higher than expected, led by sales and use taxes. Also included: a chart showing actual receipts for the year versus budget estimates.
What to do with the extra revenue, if any?
California is now 69 days into the fiscal year without a state budget – the second longest delay in state history. The longest delay was in 2008 when the Legislature acted on September 19 and the Governor signed the budget on September 23. This Legislature appears to be fighting to be #