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    • Headlines : California, Delaware, Nevada, New York, Alaska

      Wealthy avoid taxes by moving assets to no-tax states

      StLToday.com | December 30, 2013

      Wealthy Americans looking to avoid state income taxes are moving billions of dollars in assets to trusts in no-tax states such as Delaware, Nevada and Alaska.

    • Headlines

      U.S. state budgets recover modestly, little room for big ideas-report

      Reuters | December 27, 2013

      U.S. state budgets appear to be stabilizing, budget gaps are rare and policymakers have more flexibility to deal with over-spending and unexpected one-off costs, the National Conference of State Legislatures said in a report distributed on Tuesday.

    • Headlines

      End of Federal Income Tax Deduction Could Hurt State Budgets

      Governing | by Liz Farmer | December 27, 2013

      States with no income taxes could see reduced consumer spending in 2014 if a federal tax deduction is allowed to expire.

       

       

    • Headlines

      Pension Woes Have Cities, States Eyeing 401(k) Style Plans

      Fox Business | by Dunstan Prial | December 20, 2013

      San Diego is at the forefront of a controversial push by municipal and state governments to replace traditional public employee pensions with 401(k) plans that depend on the fortunes of the stock markets rather than the continued largesse of taxpayers.

    • Headlines

      Top 4 stories of 2013 on State Budget Solutions

      State Budget Solutions | December 17, 2013

      It's not surprising that pension, bankruptcy and education were hot state budget topics this past year. See what four stories were the most viewed on State Budget Solutions in 2013.

    • Headlines

      The Hidden Danger in Public Pension Funds

      The Wall Street Journal | by Andrew Biggs | December 16, 2013

      Pensions are larger and their investments riskier than at any point since public employees began unionizing in earnest nearly half a century ago.

    • Headlines

      Public pension cuts seem here to stay

      BenefitsPro | by Steven Lang | December 12, 2013

      One needs look no further than Wall Street. Early signs indicate at least some are just fine with this plan to ease municipal financial pain.

    • Headlines : California

      Calif. Assembly Democrats urge $8B budget reserve

      Businessweek | by Don Thompson | December 12, 2013

      California Assembly Speaker John Perez pledged Wednesday to cautiously begin restoring funding to some social programs that were slashed during the recession and said lawmakers will ask voters to approve a revised rainy day fund on the November 2014 ballot.

    • Headlines

      The good, bad and ugly of the state revenue recovery

      The Washington Post | by Niraj Chokshi | December 11, 2013

      The acceleration of the state revenue recovery may be over as quickly as it began.

    • Headlines

      Though Revenue Growth Is Slowing, States See More Budget Stability, Report Finds

      The New York Times | by Rick Lyman | December 11, 2013

      The federal cuts known as sequestration and the partial government shutdown added uncertainty to budget projections, he said, as did soft consumer spending.


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    • Budget timeframe: Annual

      Fiscal Year begins: July 1

      Find the legislative session calendar here.

      The current state budget can be found here.

      Find the current legislative leaders here.

       

      Jerry BrownGov. Edmung G. "Jerry" Brown
      State Capitol
      Sacramento, CA 95814
      Phone: (916) 445-2841
      Fax: (916) 445-4633
      http://gov.ca.gov/

       

       

       

       

       

      Ana Matosantos

       

      Ana Matosantos, Director of Finance
      Department of Finance
      915 L Street
      Sacramento, CA 95814
      Phone (916) 445-3878
      Fax: (916) 324-7311
      www.dof.ca.gov

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

      California is required to pass a "balanced budget." California Code Section 13337.5 of state law prohibits the annual budget act from authorizing expenditures in excess of revenues. In 2004 the Constitution was amended to include language to specifically prevent the presentation of a budget bill that would appropriate from the General Fund more than that Fund would receive in revenues. California law forbids the carrying over of a deficit from one year to the next. The State only budgets for expenditures, not revenues.

       

      The California Constitution limits appropriations to the appropriations limit from the previous year, adjusted for inflation and the change in population. This is commonly called "budgeting for fiscal discipline," and is a way to keep the growth of appropriations from outpacing the growth in revenues from year to year.
      Unfortunately, the most recently passed budget relies heavily on accounting maneuvers, including moving tax receipts from one year to a next and borrowing $5 billion against future lottery earnings. The lottery borrowing requires the approval of voters in a ballot measure in a special election the Spring of 2009. If the lottery plan is defeated, midyear cuts and other measures to rein in spending are likely. [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

      PRI Logo

       


    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions: California

      Reform Before Revenue: How to Fix California's Retiree Health-Care Problem

      The Manhattan Institute | by Stephen D. Eide | October 31, 2012

      This paper examines the ongoing fiscal crisis caused by health-care plans for retirees (known as "other post-employment benefits," or OPEB) in one of the hardest-hit states, California, and outlines necessary reforms that should come before tax increases or cuts to government services.

    • Solutions

      State Lawmaker’s Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions: California

      Rising Pension Costs Threaten Cities’ Ability to Provide Services

      Hoover Institution of Stanford University | by Chuck Reed | October 16, 2012

      In June 2012, nearly 70% of San Jose voters approved "Measure B" - a set of pension reforms that the City Council placed on the ballot after more than 8 months of negotiations with our employee unions.

    • Solutions

      Medicaid Is Broken—Let the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Solutions

      The Case for Reform: Adult Probation

      Right on Crime | August 1, 2012
    • Solutions

      Solutions to the public pension crisis

      State Budget Solutions | by Bob Williams | August 1, 2012

      Public pensions at the state and municipal levels are unsustainable in their current form.  State Budget Solutions' recent study by Andrew Biggs found that public pensions are underfunded by $4.6 trilion. Here we offer solutions to the pension crisis

    • Solutions: California

      Road Map to Recovery

      Pacific Research Institute | October 31, 2011

      Document that outlines ten steps to return California to prosperity.


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