California Seen Ending Year With About $3 Billion Surplus
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California will end its current fiscal year with almost $3 billion, the second period that the most-populous U.S. state will have a positive balance, as revenue and transfers outpace expenses.
The state also is projected to end fiscal 2015 with $2.1 billion in reserves, while bond spending is forecasted to decline 53 percent, Legislative Analyst Mac Taylor said today in a report.