The Legislative Analyst’s Office has just published the following report:
The 2020-21 Budget: Overview of the Governor’s Budget
This report presents our office’s initial assessment of the Governor’s budget.
We estimate the Governor had a $5.9 billion surplus to allocate to discretionary purposes in 2020-21. The Governor allocates most of the surplus toward one-time purposes, including maintaining a positive year-end balance in the state’s discretionary reserve. Under the administration’s estimates, total reserves would reach $20.5 billion at the end of 2020-21—this represents a $1.7 billion increase from the 2019-20 enacted level.
California continues to enjoy a healthy fiscal situation. Despite its positive near-term picture, the budget’s multiyear outlook is subject to considerable uncertainty. In addition to describing the condition of the budget under the Governor’s proposal, this report discusses tools the Legislature can use to mitigate against these heightened risks.
This report is available using the following link: https://lao.ca.gov/Publications/Detail/4135?utm_source=laowww&utm_medium=email&utm_campaign=4135
This article was released by the Legislative Analyst’s Office.