2014-2015 May Revision: Impact on California's Seniors and People with Disabilities
On May 13, 2014, California Governor Edmund G. Brown, Jr. released the “May Revision,” reflecting updated estimates for the state spending and revenue for the 2014-15 budget. Included in the May Revision are proposals that impact health and human service programs serving California’s seniors and people with disabilities.
California’s fiscal outlook continues to improve, with revenue expected to increase by $2.4 billion through 2014-15. The Governor’s May Revision projects resources of approximately $109.3 billion in 2014-15, with total expenditures increasing to $107.8 billion and a general reserve of $528 million. Reflecting priorities to pay down liabilities and “save for a rainy day,” the governor and legislative leaders have announced a constitutional amendment to develop a strong Rainy Day Fund that will require voter approval.