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California Report Complete Version

California Report Complete Version

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Published by the kingfish

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Published by: the kingfish on Sep 26, 2012
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02/07/2014

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Report of theState Budget Crisis Task Force
 
CALIFORNIA REPORT
 
 
More information is available atwww.statebudgetcrisis.org
State Budget Crisis Task Force, September 2012
This is a report of the State Budget Crisis Task Force prepared in collaboration with CaliforniaForward, a nonprofit, nonpartisan organization focused on improving governance and fiscal affairsin California. Task Force member Ed DeSeve led and managed the production of this report, andwrote significant parts of the report. 
 
 
 Reports of the State Budget Crisis Task Force
 
California Report
 1
Table of Contents
A Statement from the Task Force Co-Chairs ................................................................................ 2Foreword ......................................................................................................................................... 5Introduction .................................................................................................................................... 6
Politics of the Budgetary Process ............................................................................................................. 8
Budget Making In California ....................................................................................................... 10
Understanding the Composition of State Spending and Revenue ....................................................... 10Understanding Revenue Volatility ........................................................................................................... 12Understanding the Use and Nonuse of Reserves for a Rainy Day ....................................................... 13Budgetary Borrowing and Other Temporary Measures ......................................................................... 14
 
Program and Policy Risks ........................................................................................................... 16
Potential Impact of Federal Actions on the Economy and California’s State Budget ......................... 16Education .................................................................................................................................................. 17Medicaid ................................................................................................................................................... 19Structure of Pension and Post-Retirement Benefits ............................................................................. 20Budgeting for Infrastructure .................................................................................................................... 27Long Term Debt Structure ....................................................................................................................... 30Local Government Fiscal Health ............................................................................................................. 33
Conclusions and Observation .................................................................................................... 35

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