
Leonard and Genest Talked
This just in from Bill Leonard: I had an excellent discussion with Finance Director Mike Genest yesterday. Among things I learned is there is a difference between the way the Department of Finance and the LAO report their Budget numbers, although they arrive at the same conclusions. On July 24, Legislative Analyst Liz Hill summarized the situation this way: “Revenues and Expenditures. The budget assumes the state will start 2007-08 with a fund balance of $4.8 billion. It projects $102.3 billion in budget-year revenues, an increase of 6.5 percent from 2006-07. The budget authorizes expenditures of $103 billion, an increase of 1.3 percent from 2006-07. The… Read More