The LAO’s 2017-18 Fiscal Outlook report for the state says the recent efforts to bulk up the “rainy day fund” was smart given an unpredictable forecast ahead. Without any changes, the state will end the 2017-18 fiscal year with $11.5 billion in total reserves, which reflects the most recent ballot measure outcomes from last week including the personal income tax extension.
LAO representative Carolyn Chu will be presenting the findings to the CSAC Government Finance and Administration Policy Committee at the 122nd CSAC Annual Meeting on December 1 in Riverside County.
Read more
|