California Ordinance Adopting the Budget
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Balanced Budget Requirement. The Constitution requires the Governor to submit by January 10 of each year a state budget proposal for the upcoming fiscal year (beginning on July 1) which is balanced?meaning that estimated revenues must meet or exceed proposed expenditures.
The budget spends $310.8 billion in total state funds, consisting of approximately $225.9 billion from the General Fund, $82 billion from special funds, and $2.9 billion from bond funds.
As such, the balanced budget requirement in California is a constitutional mandate that applies equally to the legislative and executive branches of government. The Legislature is prohibited from sending the Governor an unbalanced budget and the Governor is prohibited from signing an unbalanced budget.
U.S. states Every U.S. state other than Vermont has some form of balanced budget provision that applies to its operating budget. The precise form of this provision varies from state to state. Indiana has a state debt prohibition with an exception for "temporary and casual deficits," but no balanced budget requirement.
Each house discusses and then votes on its version of the budget bill. Te differences between the Assembly and Senate versions of the budget bill, if any, may be worked out in a conference committee. Upon completion of its review, the conference committee submits a single version of the budget bill to both houses.
As such, the balanced budget requirement in California is a constitutional mandate that applies equally to the legislative and executive branches of government. The Legislature is prohibited from sending the Governor an unbalanced budget and the Governor is prohibited from signing an unbalanced budget.
The State Constitution requires that the Governor submit a budget to the Legislature by January 10. It provides for a balanced budget in that, if the proposed expenditures for the budget year exceed estimated revenues, the Governor is required to recommend the sources for the additional funding.
Budget Development Under the policy direction of the Governor, the Director of Finance issues instructions and guidelines for budget preparation to agencies and departments. This effort typically gets underway even before the Legislature has passed the budget for the current fiscal year.