The nonpartisan Legislative Analyst's Office today releases its fiscal outlook for the 2011-2012 budget and beyond.
The report will shed light on how bad next year's budget hole will be -- a deficit that is expected to surpass $12 billion -- and whether the economic forecast is likely to provide relief for the state's fiscal woes in coming years.
The forecast, which includes updated estimates on revenues, expenditures and the health of the deficit-plagued general fund, will be posted on the LAO website by noon.
Legislative Analyst Mac Taylor will discuss the findings at 1:30 p.m. at the LAO's Sacramento offices.
How California's budget woes compare to other fiscally stressed states -- and how residents view the situations -- is the subject of a panel at 12 noon sponsored by the Public Policy Institute of California.
The panel will examine the results of a recent survey that PPIC and the Pew Center for the States conducted of public perception of the budget situations in Arizona, California, Florida, Illinois and New York.
PPIC President & CEO Mark Baldassare, Department of Finance spokesman H.D. Palmer and Senate President Pro Tem Darrell Steinberg's budget director Craig Cornett are all scheduled to participate in the discussion. More information on the event is available here.
On the topic of budget shortfalls, the California State University Board of Trustees meets today to consider increasing tuition by 5 percent mid-year, with another 10 percent hike set for next year. Laurel Rosenhall has more on the decision in today's Bee. The agenda for the Long Beach meeting is here.
GOVERNOR: Gov. Arnold Schwarzenegger is in Los Angeles to tour a "Honor a Hero, Hire a Vet" job fair. Gov.-elect Jerry Brown is vacationing in Arizona.
ANNOUNCEMENT: Sen. Leland Yee, D-San Francisco, issued a release last night saying he will make an announcement at the San Francisco Department of Elections this morning. The release doesn't specify what the announcement will be, but Yee has had his eye on the San Francisco mayor's office. That post that will soon be vacated by current Mayor Gavin Newsom's election as lieutenant governor. The San Francisco Board of Supervisors can appoint an interim mayor to fill the office until the next city election.