$14.5 Billion General Fund Deficit, Workload Budget (Dollars in Billions)

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Table displaying dollar amounts for Reserve 2007-08 and 2008-09. 2007 Budget Act $4.1, $0. Changes in Beginning Balances/Carryover from 2007-08 -$0.5, -$3.3. 2007-08 Operating Deficit $0, -$6.7. Major Revenues Decrease/Increase (-/+) -$4.2, $4.6. Other Revenues -$0.7, -$1.4. Expenditure Increases: Proposition 98 -$0.6, -$2.3. All Others -$1.4, -$5.4. 2008-09 Operating Deficit -$11.2. 2008-09 Governor's Budget Workload Budget Deficit -$3.3, -$14.5. Operating Deficit -$6.7. Footnote 1 Workload budget reflects the projected costs of state government if no corrective actions are taken. Footnote 2 The operating deficit for 2007-08 reflects spending more in that year than the revenues collected that year. This operating deficit carries foward into 2008-09 and is increased by projected spending increases partially offset by revenue increases.