Quick Summary & Reaction to the Governor’s Budget
Here is some preliminary analysis of the governor’s budget proposal. Note that it is a proposal and not an enacted budget. Typically, the proposal is revised in May and not passed until close to the June 30 deadline. At the state level, the general fund is said to have had a negative balance of $1.615 billion as of last June 30. The governor is proposing and forecasting that at the end of this fiscal year (2012-13), there will instead be a positive reserve of $0.785 billion. That swing tells you that he is projecting a surplus this current year (inflow…
