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In its assessment of California’s budget for the current fiscal year, which began July 1, the Legislative Analyst says this about state highway spending:
“Proposition 1B, a ballot measure approved by voters in November 2006, authorized the issuance of $20 billion in general obligations bonds for state and local transportation improvements…. The budget appropriates $258 million of Proposition 1B funds for various transportation programs. This appropriation level is significantly lower than the appropriations made in recent years because the majority of funds have already been appropriated.” (Emphasis added.)
Caltrans reports that as of August 31, the Legislature has appropriated $14.2 billion of the $15.6 billion in Read more »
“California experienced a slight uptick in the unemployment rate in July, ending 23 consecutive months of decline. However, the number of jobs continued to rise and the real estate market continued to improve.”
So begins the September 2013 Finance Bulletin of Gov. Jerry Brown’s Department of Finance, which covers July economic activity and August revenue collections.
California’s unemployment rate increased to 8.7 percent in July – up from 8.5 percent in June.
“The year-over-year drop of 1.9 percentage points is still one of the larger decreases on record,” the Department of Finance notes.
Not one of the state’s major revenue months, August posted tax receipts Read more »
Further buttressing the state’s financial condition, California’s June income tax and business tax receipts are nearly $1.5 billion higher than projected.
Total income tax payments through June 30, the close of the previous fiscal year, were $8.4 billion.
In the budget signed by Gov. Jerry Brown June 27, $7.5 billion was predicted.
One month does not a fiscal year make, the Brown administration counters, noting that any number of fiscal uncertainties, domestic and international, could damage the state’s Read more »
At an 11 a.m. signing ceremony on June 27, Gov. Jerry Brown signs California’s $145 billion budget for the fiscal year starting July 1.
His press office says he’ll be joined by Senate President Pro Tempore Darrell Steinberg, a Sacramento Democrat, and Assembly Speaker John Pérez, a Los Angeles Democrat.
The Budget Act of 2013 is AB 110.
See the webcast at: www.calchannel.com.
Republicans complimented the restraint exercised by Democratic Gov. Jerry Brown in the revised budget he presented May 14.
Several of Brown’s Democratic legislative allies criticized him for being too tight-fisted.
Ultimately, scattered GOP applause isn’t going to translate into budget “aye” votes and Democratic disgruntlement isn’t going to mean less than the 41 votes needed to send a budget back to Brown that looks quite similar to the one that spawned their initial complaints.
What the rhetorical volley does mean is the official start of budget season.
There have been several months of subcommittee hearings and explications of the Read more »
Saying the state’s “multi-billion dollar increase in current-year cash receipts” is “short-lived,” Gov. Jerry Brown unveiled an updated budget May 14 that gives $2.9 billion of those receipts to public schools.
The $137 billion spending plan also earmarks additional money to Medi-Cal, the state’s health care program fro the poor, whose rolls will expand by more than 1 million persons when the federal Affordable Care Act takes effect January 1, 2014.
“It’s (a budget) that responds to our education and health challenges but unlike ones of the past it’s very prudent,” the Democratic governor told reporters at a Capitol press conference.
The Read more »
Public schools will be the biggest beneficiary by far of the revised budget Gov. Jerry Brown unveils May 14, receiving the bulk – if not all — of the $4.5 billion in unexpected revenue the state has received this year.
The Democratic governor wants to use the money to both augment the budgets of the state’s more than 1,000 school districts and erase several billion of the remaining $8.2 billion in postponed payments to schools made in past budgets.
Paying off those deferrals would effectively place more money in school coffers during the new fiscal year, which begins July 1.
Since January, Californians have paid Read more »
Apparently the message is not sinking in. Once again:
On Tuesday May 14, 2013 Wednesday, Gov. Jerry Brown will present a revised budget plan. That means the document he shares with California and its 38 million residents is a REVISION of the spending plan he presented in January.
It is not a revise of the spending plan he offered four months ago, although it could be a revising thereof.
If the previous document is the Democratic governor’s January budget plan, this new document would be the May REVISION.
Not now, not ever, would it be the May revise.
Revise, according to the Free Read more »
Echoing previous statements by the Franchise Tax Board and the Legislative Analyst, State Controller John Chiang’s April report covering California’s cash balance, receipts and disbursements shows state revenues are $4.6 billion over estimates contained in Gov. Jerry Brown’s January budget plan.
In April alone, tax receipts totaled $15 billion, Chiang reported. All but $200 million of the $4.6 billion is higher-than-anticiapted state income tax payments.
“We’ve reached an important milestone in California’s economic recovery. For the first time in nearly six years, we closed out a month without borrowing from internal state funds to pay our bills,” Chiang said in a statement. “But, there Read more »
(The Legislative Analyst said April 26 that despite an uncharacteristic month of income tax collections, the state will likely end April with $4.5 billion more in revenues than predicted in the budget GOv. Jerry Brown introduced in January.
“Our best estimate is that the state will end April with (personal income tax) collections for the fiscal year to date … somewhere around $4.5 billion ahead of the administration’s estimates. As day-to-day collection trends have been quite unusual this month, this figure certainly is subject to change and could go down slightly if, for example, refund activity accelerates,” the analyst writes.
While being above Read more »
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