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ERIC Number: ED516152
Record Type: Non-Journal
Publication Date: 2010-Dec
Pages: 3
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Budget Update, November 9, 2010. Report 10-20
Woolfork, Kevin
California Postsecondary Education Commission
On October 8, Governor Arnold Schwarzenegger signed the 2010-11 Budget Act for the State of California. This budget was the outcome of many months of negotiation between the Governor and the Legislature. The Governor vetoed $963 million in spending from the Legislature's budget, arriving at a budget that addresses an estimated $19.1 billion shortfall. The final budget includes $86.6 billion in General Fund spending, up slightly from 2009-10. As signed, the budget was projected to end the 2010-11 fiscal year with a $1.2 billion reserve. More recent information shows a projected budget deficit of $6.1 billion for 2010-11, and a $25.4 billion deficit through the end of 2011-12. The Governor has called for a special legislative session to address the budget shortfall to be convened on December 6 when the new Legislature is sworn into office. This paper presents the update on California's 2010-11 state budget and discusses the state's ongoing budget deficit. (Contains 2 tables.)
California Postsecondary Education Commission. 770 L Street Suite 1160, Sacramento, CA 95814. Tel: 916-322-9268; Fax: 916-327-4417; e-mail: Publication_Request@cpec.ca.gov; Web site: http://www.cpec.ca.gov
Publication Type: Reports - Descriptive
Education Level: Elementary Secondary Education; Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: California Postsecondary Education Commission
Identifiers - Location: California