California revised budget shows increased revenues/surplus
On May 13, Gov. Gavin Newsom released his revised fiscal year (FY) 2022-23 budget. For the first time, the state budget exceeded $300 billion. His January proposed budget was $286.5 million. Total expenditures approach $227.4 billion and revenues are forecast to be $222.6 billion.The estimated $15.4 billion surplus from FY 2021-22 plus new revenues is…


