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Auditor Labels Calif. Budget Process High-Risk

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Feb 3, 2009 11:42 am US/Pacific

Auditor Labels Calif. Budget Process High-Risk

SACRAMENTO (AP) ―

Click to enlarge 1 of 1: The California State Auditor is labeling the state's budgeting process a high-risk matter because it is affecting government performance.
CBS

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The California State Auditor is labeling the state's budgeting process a high-risk matter because it is affecting government performance.

In a report released Tuesday, the auditor found that California had budget shortfalls in 12 of the past 20 years and surpluses in eight. When the auditor looked at budgets each May, the surpluses totaled $30 billion, compared to $146 billion in deficits.

The auditor noted that most budgets have simply pushed the state's fiscal problem into the future. Because governors and lawmakers have a tough time adjusting spending, they often turn to borrowing, transfers and delaying payments just to pass a balanced budget.

Voters also have contributed to the problem. In the past 10 years, voters have approved 19 ballot initiatives that authorized $105 billion in bonds, costing the state another $98 billion in interest.

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