November 1, 2014
SACRAMENTO, Calif. (AP) - The Legislature's nonpartisan budget analyst is preparing to offer its assessment of Gov. Jerry Brown's budget proposal.
The Democratic governor last week said California is emerging from an era of massive deficits and projected a $1 billion reserve in the $97.6 billion general fund.
Just two months earlier, the Legislative Analyst's Office had projected a more cautious outlook that forecast a $1.9 billion deficit. The report to be released Monday is expected to explain the different estimates.
Brown's finance director, Ana Matosantos, says the offices use slightly different figures and spending estimates.
California's budget will increase by nearly $5 billion in the coming fiscal year, largely due to voter approval of Brown's sales and income tax initiative, Proposition 30. By comparison, the state's shortfall was $25 billion two years ago.
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