Although the budget for the coming 2024-25 fiscal year will undoubtedly be described as "balanced," it in fact pull down total reserves associated with the general fund by over $4 billion, i.e., a deficit of that amount. The deal in fact results in a bigger deficit than the original legislative proposal and the May Revise, but all proposals pull down reserves and are thus deficit budgets. What happens to the general state of the economy and the stock market will influence what actually happens as opposed to what's projected.
Budget Data - $Millions
Source: https://jasonsisney.substack.com/p/governor-and-legislative-leaders-588. We have rearranged the figures. In the case of the Balance GF-End figure for 2024-25, there is a difference between the figure shown above and the figures on the original table of $10 million. Possibly, there is a typo that accounts for the difference.
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