Archived Budget & Fiscal Analysis

Below is a summary of some subcommittee activity from the past week:
Below is a summary of some subcommittee activity from the past week:
Read complete "Highlights and Analysis" (pdf) Executive Summary For some people in our state today, life is truly California golden. High-tech industries and places like Silicon Valley are booming. However, this success has not been realized in all communities. Senate Republicans have identified...
Senate Republicans have long prioritized investing in education as a top priority along with building the state’s new rainy day reserve, paying off state budgetary debts, and addressing unfunded liabilities that jeopardize our state’s fiscal future. The 2015-16 state budget plan is consistent with some of these priorities as it keeps faith with voter-approved constitutional spending requirements for schools and community colleges and higher budget reserve and debt payment requirements.
Download Complete Document (pdf) Executive Summary Despite being precariously balanced, there are many positive elements in the Governor‘s budget plan. It builds the rainy day reserve to $2.8 billion (see Proposition 2 Rainy Day Fund Page 6), pays off about $4 billion of past budgetary debts ( see...
Currently, the 2014-15 state budget plan assumes total General Fund revenues of $107.1 billion. In its Overview of the May Revision , the Legislative Analysts’ Office (LAO) suggested that the Administration underestimated the strength of revenues throughout its projections. “Across the four fiscal...
Read Complete Analysis (pdf) Executive Summary The final 2014-15 state budget generally reflects the Governor‘s original budget framework. Legislative Democrats lost the battle to prop up higher state spending by using the Legislative Analyst‘s riskier General Fund revenue forecast, which was $2.5...
View Complete Analysis (pdf) Executive Summary The Governor’s May Revision provides a good framework for the budget. It retains a rational focus on addressing past debts and future liabilities, and building a rainy-day reserve. However, it is far from perfect as it still embraces the ill-conceived...