The Senate and Assembly have approved an operating budget that is now headed to the Governor’s desk. Once signed into law, this budget package represents California’s spending plan that will be in place for the beginning of the new fiscal year on July 1.
The budget package totals $267.1 billion; $196.1 from the state’s General Fund, with total General Fund reserves at a record of $25.3 billion. Proposition 98 spending is also at a record $96.1 billion.