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A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
According to California's Department of Finance, the state's 2017-2018 enacted state budget includes over $180 billion in state funds. [27] As can be seen below, Table 1 gives an overview of California's 2017-2018 enacted state budget. As the table suggests, health care and K12 education represent California's largest expenditures of state funds.
The Legislative Analyst’s Office identified around $15 billion in cuts that could be made to make up for the state’s shortfall. California has dueling budget deficits. Here’s what that means ...
California Gov. Gavin Newsom on Friday unveiled his revised $288 billion budget proposal with a $28 billion deficit that will require tough budget cuts — including eliminating 10,000 now-vacant ...
California has a huge budget problem that could force thorny decisions from Democratic leaders who enjoyed a more than $100 billion surplus just three years ago. Democratic Gov. Gavin Newsom on ...
The California Department of Finance is a state cabinet-level agency within the government of California. [1] The Department of Finance is responsible for preparing, explaining, and administering the state's annual financial plan, which the governor of California is required under the Constitution of California to present by January 10 of each year to the general public.
The governor has not taken that sort of action since June 2020, when California was in the thick of the COVID-19 pandemic and facing a $54.3 billion budget gap.