Deal Reportedly Reached on the State Budget Between Legislature and Governor

From the governor’s website:

Governor Brown Issues Statement on Budget

6-10-2013: SACRAMENTO – Following action from the Joint Legislative Conference Committee on the Budget this evening, Governor Edmund G. Brown Jr. issued the following statement:
 
“The Legislature is doing their job and doing it well. It looks like California will get another balanced budget and, very importantly, educational funding that recognizes the different needs of California’s students.”

Source: http://gov.ca.gov/news.php?id=18087

The Sacramento Bee indicates that a) the deal is based on the governor’s more conservative revenue estimates as compared to the Legislative Analyst’s numbers* and b) there is (some) money for higher ed scholarships.  Although the article doesn’t say so, we have noted in prior posts that there appeared to be no difference between the governor’s May Revise and the legislative proposals when it came to the basic UC budget.  Apparently, some minor points have yet to be resolved.  But based on the info so far, it seem as though there won’t be what we called in a recent post “Saturday Night Fever” – this coming Saturday night being the constitutional deadline for the legislature to enact a budget.

The Bee article is at http://www.sacbee.com/2013/06/11/5486878/gov-jerry-brown-democratic-leaders.html

It’s always a good idea to await the budget numbers.  However, it is likely that the folks in the legislature will have a more enjoyable Saturday night than if they had to stay late to do the budget:
[youtube http://www.youtube.com/watch?v=dUT_PFsFqho?feature=player_detailpage]
*Note that the rejection of the estimates from the Legislative Analyst’s Office (LAO) is something of a blow to that office.  The initial budgets of the assembly and senate were based on LAO figures, as we have noted in earlier posts.  On the other hand, thanks to Prop 98, if in fact more revenue comes in than projected by the governor, a good bit will end up in K-14.  It won’t all be tucked away in the reserve.