The Revised Budget Summary provides an update of revenues, expenditures, and reserve estimates based
upon the latest economic forecast and changes in population,
caseload, or enrollment estimates. The Revised Budget Summary provides
Economic Outlook, and
Major changes are highlighted in each of the
BUDGET OVERVIEW Back to Top
California's structural budget deficit persists. Slower rates of economic growth, softening state revenues and increased costs have widened California's budget gap. In January, the projected deficit for 2008-09 was $14.5 billion. Left unaddressed, the projected gap would grow to $24.3 billion based on updated revenue projections, revised caseload estimates and higher costs. The single largest factor contributing to the increase in the projected budget gap is a $6.0 billion decrease in estimated General Fund revenues. Other factors include increased program costs, higher estimates of growth and costs of living adjustments, and erosion of savings due to delays in the adoption of reduction proposals. A productive Special Session of the Legislature made a down payment to address the budget deficit; now, the remaining budget gap is $17.2 billion.
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - All Chapters (pdf * - 1128K)
Provides the entire Revised Budget Summary in pdf format.