Gov. Newsom’s Fantasy Budget
Commentary
Gov. Gavin Newsom’s new budget proposal (pdf) for fiscal year 2023-24, which begins on July 1, is more a wish list than an actual budget proposal. It projects $297 billion in spending, but also anticipates a $22.5 billion deficit unless certain programs are cut or delayed.
But one of the things former state Sen. John Moorlach, a Certified Public Accountant, has stressed for three decades is the real government numbers are in the Annual Comprehensive Financial Report, an actual audit. Too bad Betty Yee, the controller who just left office, completed her last one only for fiscal year 2019-20, which ended on June 30, 2020—going on three years ago….