California 2014 budget revised down to $96.4 billion

SACRAMENTO, Calif. Tue May 14, 2013 1:13pm EDT

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SACRAMENTO, Calif. May 14 (Reuters) - California has revised down its 2014 general fund budget to $96.4 billion under a plan unveiled on Tuesday by Governor Jerry Brown despite a surge in revenue that is expected to go mostly to schools.

In budget documents distributed ahead of the presentation, the reserves were revised up to $1.1 billion from $1.0 billion in the initial January draft.

In recent years, California has made significant progress in breaking with its longstanding tradition of budget deficits.

In his initial budget plan in January, Brown proposed a $97.7 billion general fund and said revenue from voter-approved tax increases and spending cuts over the previous two years would leave California with a $851 million surplus in its next fiscal year.

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Comments (6)
cgdontop2 wrote:
You could decrease this amount by half if you get rid of all the illegals in CA!

May 14, 2013 3:49pm EDT  --  Report as abuse
skip313131 wrote:
Democratic supermajorities in both houses! It’s almost like removing Republicans from the process makes everything run smoothly…

May 14, 2013 3:51pm EDT  --  Report as abuse
” … despite a surge in revenues …” – sort of confirms the suspicion that some folks see government spending as something that should always be increasing

May 14, 2013 3:52pm EDT  --  Report as abuse
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