Follow the
money.
What is here is the Department of Finance General Fund series — actuals, estimates and enacted estimates kept distinct — plus the income-tax share of state taxes and the rainy-day fund.
A full reconciled picture of transfers, borrowing, federal funds and reserves is not in this snapshot. Drawing one would mean inventing widths, so we don’t.
General Fund · revenue vs spending · F01
US$ billions by fiscal year. FY2025–26 is an estimate; FY2026–27 is the enacted estimate (dashed).F01 →
Rainy-day fund · F04
Income tax share of state taxes · F03
Money readings
3.33notch (AAA = 1)
Average general obligation rating notch (AAA = 1)
–Within 2017–19→No material change
1.06% of spending
General Fund revenues and transfers minus expenditures, % of expenditures (actuals)
–Within 2017–19↗Improving
7.89% of GF revenue
Rainy-day fund (BSA) balance, % of General Fund revenues
–Within 2017–19↘Worsening
Resident liability by income group is T01. Proposition cases, with approved amounts separated from spending and outcomes, are on the case list.