As reported yesterday, California will soon have its’ new 2005-06 budget. Dan Weintraub, a columnist with the Sacramento Bee, reports on more of the specifics (missing from yesterday’s report).
Some highlights:
—Education funding increases, despite what you may hear from the teacher’s unions;
—The state is repaying the $1.2 Billion it owes the cities one year earlier than scheduled. This will make local governments quite happy.
—The budget is balanced on paper. However, it’s balanced by using one-time funds. Thus, next year’s budget starts off $5 Billion in the hole.
So, let’s take the good with the bad. Given the makeup of the legislature, this is probably as good as one could hope for. Just remember that we’re still looking at a special election in November with a whole host of initiatives that have the potential to change the picture in Sacramento.