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    • Headlines : Illinois, California, Kentucky, Massachusetts , Michigan, New Jersey, New York, Missouri, Maryland, Pennsylvania, Oklahoma, South Carolina, West Virginia

      Williams Report - June 16, 2016

      State Budget Solutions | by Bob Williams | June 16, 2016

      A rare win for NJ taxpayers; MD pays more than $320M in pension fund management fees -- for a 0.12% return; More headlines...

    • Headlines : California, Delaware, Illinois, Michigan, Ohio, Oklahoma, Pennsylvania, Wyoming, Louisiana, Massachusetts , New Jersey, New York

      Williams Report - June 9, 2016

      State Budget Solutions | by Bob Williams | June 9, 2016

      Illinois Budget Battle Rages On; Dueling Visions of Pension Reform in the Garden State; More...

    • Headlines : Alaska, California, Connecticut, Delaware, Illinois, Massachusetts , Oklahoma, Pennsylvania, South Carolina, West Virginia, Kentucky, New Jersey, Wyoming

      Williams Report - June 1, 2016

      State Budget Solutions | by Bob Williams | June 1, 2016

      Another Chicago Downgrade; Illinois Budget Storm Continues; More...

    • Headlines : Illinois, Kansas, Massachusetts , New Jersey, North Carolina , Oklahoma, Pennsylvania, Virginia, West Virginia, Arizona, California, Michigan

      Williams Report - May 25, 2016

      State Budget Solutions | by Bob Williams | May 25, 2016

      Pension Reform Wins Big in Arizona; Major Kudos to Senator Debbie Lasko!

    • Headlines : California, Connecticut, Illinois, Massachusetts , New York, Oklahoma, Pennsylvania, West Virginia, Michigan, Arizona, New Jersey, North Carolina , Wisconsin

      Williams Report - May 18, 2016

      State Budget Solutions | by Bob Williams | May 18, 2016

      US state, local pensions funded at half levels of other countries...

    • Headlines : Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Hawaii, Kansas, Massachusetts , Michigan, Missouri, Oklahoma, Pennsylvania, South Carolina, West Virginia, Illinois, Kentucky, New Jersey, New York

      Williams Report - May 11, 2016

      State Budget Solutions | May 11, 2016

      Financial reality is not negotiable. 

    • Headlines : Alaska, Arizona, California, Connecticut, Georgia, Kansas, Kentucky, Massachusetts , Mississippi, Washington, New Jersey, Pennsylvania

      Williams Report - May 4, 2016

      State Budget Solutions | by Bob Williams | May 4, 2016

      Hidden debt, hidden deficits: How pension promises are consuming state and local budgets

    • Headlines : Arizona, Connecticut, Illinois, Kansas, Massachusetts , Mississippi, North Carolina , Texas, West Virginia, California, Florida, Kentucky, New Jersey, Rhode Island, South Carolina

      Williams Report - April 27, 2016

      State Budget Solutions | by Bob Williams | April 27, 2016

      Pension funds review tobacco divestment; Puerto Rico kicks a useless can; More...

    • Headlines : Connecticut, Illinois, Kentucky, Louisiana, Massachusetts , Mississippi, New Jersey, Texas, Alabama, California, Pennsylvania

      Williams Report - April 20, 2016

      State Budget Solutions | by Bob Williams | April 20, 2016

      Rich States, Poor States: Will your state's economy do well in 2016? 

    • Headlines : Alaska, Colorado, Kansas, Kentucky, Louisiana, Maryland, Massachusetts , Michigan, Nebraska, New York, Pennsylvania, Tennessee, Vermont, Washington, California, Illinois, New Jersey

      Williams Report - March 30, 2016

      State Budget Solutions | by Bob Williams | March 30, 2016

      Illinois, New Jersey Downgraded Again

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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






      Ana Matosantos


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



      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


    • Pensions :

    • HEADLINES: California

      Reed Pulls Plug on State Pension Reform, Wins Appeal of $1 Fine

      San Jose Inside | by Jennifer Wadsworth | March 19, 2014

      After losing an appeal over ballot measure language, Mayor Chuck Reed decided to drop his 2014 state pension reform campaign and delay it to 2016.


      How to Become a (Public Pension) Millionaire

      The Wall Street Journal | by Andrew Biggs | March 17, 2014

      In five states, an average full-career retiree receives a retirement income higher than his final salary.


      US public pensions need more than investment windfall | March 10, 2014

      The higher-than-expected returns since 2012 are welcome, but experts say they don't make up for a legacy of insufficient funding, a problem that afflicts many states that allow elected officials to control the process.

    • HEADLINES: California

      California Controller John Chiang proposes prefunding state retiree health care

      Sacramento Bee - State Worker | by Jon Ortiz | March 10, 2014

      A new tally of unfunded state retiree health care costs shows long-term obligations grew by hundreds of millions of dollars last year, prompting Controller John Chiang to propose a plan on Thursday to chip away at the debt..



      Buffett Says Pension Tapeworm Means Decade of Bad News

      Bloomberg News | by Noah Buhayar and Zachary Tracer | March 3, 2014

      "Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn't afford," Buffett said. "Unfortunately, pension mathematics today remain a mystery to most Americans."


      Study rates public pension overhauls in other states

      Sacramento Bee - State Worker | by Jon Ortiz | February 27, 2014

      Public pension-change efforts in states that have rolled back benefits share some common characteristics, according to a paper issued today by the influential Brookings Institution in Washington, D.C.


      Public Pension Tabs Multiply as States Defer Costs and Hard Choices

      The New York Times | by Rick Lyman and Mary Williams Walsh | February 25, 2014

      More than 40 states have taken steps in recent years to rein in mounting public employee pension costs that threaten to strangle government services. But none have come close to closing their pension gaps quickly enough to keep pace with a rapidly aging - and retiring - public work force.

    • HEADLINES: California

      California's government to increase contributions to employee pensions

      Associated Press | by Fenit Nirappil | February 20, 2014

      California’s government will increase the amount it contributes to state employees’ pensions starting this summer, and cities and other government agencies will follow suit in two years, to help cover the cost of benefits for retirees who are living longer.

    • HEADLINES: California

      Government reform group launches public pension database B

      Sacramento Bee | by Jon Ortiz | February 10, 2014

      A conservative Southern California group has launched a public pension database that includes retirees’ names, their annual pension payments, years of service, last employer and year of retirement.


      Moody's report shows states' failure to recognize scope of broken promises

      by Cory Eucalitto | February 7, 2014

      Moody's new approach adds to the chorus of voices claiming that unfunded pension liabilities are a much larger problem than state governments currently recognize.  

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    • 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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    • California, Connecticut, Delaware, Florida, Kansas, Kentucky, Massachusetts , New Mexico , New York, North Dakota, Oklahoma, Pennsylvania, Tennessee, Arizona, Illinois

      Williams Report - February 3, 2016

      State Budget Solutions | by Bob Williams | February 3, 2016

      State Budget and Pension News from Statehouses Around the Country

    • Alaska, Connecticut, Illinois, Kentucky, Mississippi, New Mexico , Oklahoma, Pennsylvania, Washington, Wyoming, California, Florida, Michigan, New Jersey, New York

      Williams Report - January 27, 2016

      State Budget Solutions | January 27, 2016

      High-Tax States; Scary Pension Math; More Fiscal Headlines from Statehouses Nationwide

    • Alaska, Arizona, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, New Jersey, New York, Pennsylvania, California, Massachusetts

      Williams Report - January 20, 2016

      State Budget Solutions | by Bob Williams | January 20, 2016

      State Pension Funds: As Broke As Ever; Illinois, Pennsylvania Budget Stalemates Continue; More Headlines from Statehouses Nationwide

    • California, Illinois, New Jersey, Oklahoma, Pennsylvania, Kentucky, Virginia, Oregon

      Williams Report - January 6, 2016

      State Budget Solutions | by Bob Williams | January 6, 2016

      Join the discussion on Twitter by following @StateBudgets!

    • Alaska, California, Colorado, Connecticut, Delaware, Florida, Illinois, Hawaii, Iowa, Louisiana, North Carolina , Pennsylvania, Vermont, West Virginia, Massachusetts , New York

      Williams Report - November 17, 2015

      State Budget Solutions | by Bob Williams | November 17, 2015

      Join us on Twitter by following @StateBudgets and tweeting with the hashtag #SBSbob. 

    • Alabama, California, Connecticut, Georgia, Illinois, Colorado, Nebraska, North Carolina , Oregon, Pennsylvania, South Dakota, Virginia, Washington

      Williams Report - November 10, 2015

      State Budget Solutions | by Bob Williams | November 10, 2015

      Join us on Twitter by following @StateBudgets and tweeting with the hashtag #SBSbob. 

    • Alabama, Arkansas, Idaho, Illinois, Michigan, New York, Ohio, Pennsylvania, Washington, Wisconsin, Alaska, California, Connecticut, Kansas, New Jersey, Oklahoma

      Williams Report - October 6, 2015

      State Budget Solutions | by Bob Williams | October 6, 2015

      Join us on Twitter by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Alabama, Alaska, Arizona, California, Colorado, Delaware, Florida, Illinois, Louisiana, Maryland, New Jersey, New York, Oklahoma, Pennsylvania, Utah, Rhode Island, Massachusetts

      Williams Report - September 29, 2015

      State Budget Solutions | by Bob Williams | September 29, 2015

      Join us on Twitter by following @StateBudgets and tweeting with the hashtag #SBSbob.

    • Alabama, Alaska, Arkansas, Connecticut, Florida, Illinois, Minnesota, Missouri, New Hampshire , North Carolina , Oklahoma, Pennsylvania, Tennessee, California

      Williams Report - September 22, 2015

      State Budget Solutions | by Bob Williams | September 22, 2015
      Join us on Twitter by following @StateBudgets and using the hashtag #SBSbob.
    • Alabama, Arizona, Arkansas, Connecticut, Illinois, Kansas, Louisiana, Missouri, North Carolina , Ohio, Pennsylvania, Rhode Island, Virginia, California, Kentucky, New Jersey, Texas, Utah

      Williams Report - September 8, 2015

      State Budget Solutions | by Bob Williams | September 8, 2015

      Join us on Twitter today, by following @StateBudgets and using the hashtag #SBSbob!

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