End of Fiscal Year ($Millions)
2015-16 2016-17 2017-18
============================================
Regular
Reserve $4,515 $723 $2,617
---------------------------------------------
Rainy-Day
Reserve $3,420 $6,713 $8,488
---------------------------------------------
Total
Reserve $7,935 $7,436 $3,669
--------------------------------------------
Expenditure $115,571 $122,322 $11,105
--------------------------------------------
Total
Reserve/
Expenditure 6.9% 6.1% 9.0%
============================================
Data for 2015-16 from enacted budget for 2016-17.
Source: http://www.ebudget.ca.gov/2017-18/pdf/Revised/BudgetSummary/SummaryCharts.pdf and http://www.ebudget.ca.gov/2016-17/pdf/Enacted/BudgetSummary/SummaryCharts.pdf
Note that the change in the Total Reserve is a deficit of -$499 million for the current fiscal year (2016-17) and a projected surplus for the coming year (2017-18) of +$3,669 million.
The governor provided the usual warnings that the economy will eventually turn down - date to be determined - so reserves should rise and new programs should be avoided. Beyond the business cycle, there is the danger posed by Trumpcare.
In recognition of the brouhaha over the state audit of UC, he made $50 million of the planned allocation for UC contingent on UC doing what the auditor wants. In his news conference presenting the proposal, he said the auditor would determine whether UC is doing what it should. He did say that most people think the UC prez is doing a good job.
Some news accounts about the May Revise are at:
http://www.sacbee.com/news/
http://www.sfchronicle.com/
https://edsource.org/2017/budget-plan-withholds-50-million-from-uc-pending-audit-compliance-and-fully-funds-cal-grants-at-private-colleges/581711
No comments:
Post a Comment