Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
California proposes balanced 2025-26 budget, seeks change to Proposition 2 to boost rainy-day savings
Summary
The Department of Finance presented the governor's 2025-26 spending plan as balanced with a modest $363 million discretionary surplus and proposed reforms to Proposition 2 to allow larger deposits to the state's rainy-day fund.
The Department of Finance presented the governor's proposed 2025-26 budget on the administration's behalf, saying the plan is balanced and includes a modest $363 million discretionary surplus.
The budget document shows $322.3 billion in total spending, $228.9 billion from the General Fund, and total reserves of just under $17 billion — including about $10.9 billion in the budget stabilization account (the state "rainy day fund"), $1.5 billion in the schools' reserve and $4.5 billion in the Special Fund for Economic Uncertainty. Department of Finance officials told reporters the plan…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
