SACRAMENTO, Calif. (AP) - The Legislature's nonpartisan budget analyst is agreeing with Gov. Jerry Brown that the state budget is balanced.
Analyst Mac Taylor issued the first review of Brown's budget on Monday. Taylor says that after years of multi-billion-dollar deficits, California has reached a point where its underlying expenditures and revenues are roughly in balance.
He commends the Democratic governor for emphasizing fiscal restraint and urges lawmakers to consider Brown's education reforms.
Last week, Brown released a $97.6 billion state spending plan for the 2013-2014 fiscal year that projected a $1 billion reserve. Two months ago, Taylor had projected a more cautious outlook that forecast a $1.9 billion deficit.
Taylor says higher tax revenues, increased savings and repayment of loans account for the differences.