Monday, October 13, 2014
Leg Analyst Issues Report on State Budget
Finally, although it characterizes the General Fund as "in the black," it doesn't comment on the fact that the reserves* related to the General Fund drop by $900 million in the current year (which sounds a lot like a "deficit" in the common English usage of that term - but not in Sacramento speak).
You can read it for yourself at http://lao.ca.gov/reports/2014/budget/spending-plan/california-spending-plan-080414.pdf
*"Reserves" is in plural form because the budget assumes voters will pass Prop 2 - the rainy day fund - and so there will in effect be two reserves to consider by the end of the fiscal year.