Gov. Gavin Newsom's proposed $322 billion budget aims to support key initiatives like universal pre-kindergarten while maintaining funding for homelessness, despite legal challenges ahead.
Joe Stephenshaw emphasized that California is now back on solid fiscal footing, having shifted from a projected $2 billion deficit to a modest surplus of $363 million.
The budget includes a significant allocation of $229 billion in general fund spending and a total of $16.9 billion in reserves for financial stability.
Despite increased revenue, Newsom's budget proposal still plans to use $7.1 billion from the state's rainy day fund, indicating a cautious approach amidst potential challenges.
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