It Depends on How You Look at Things

Monday, December 12, 2022

Next month, the governor will release his budget proposal for fiscal year 2022-23, which means that by now it is probably getting close to final form. The state controller issues cash statements each month and released the statement through November during the past weekend.*

If you wanted to argue for a more expansive budget, you could point to two things from that report. As shown in the chart below, actual revenues received through November were running ahead of the projection made when the budget for the current fiscal year was enacted. Most of that extra revenue is coming from the state's personal income and corporation taxes.

In addition, unused borrowable resources - money in state coffers that includes the various reserves for the general fund but also other funds that can be tapped for internal borrowing - are also running ahead of projection and are over $92 billion, an incredible total, and are way ahead of where they were a year ago.

On the other hand, if you are looking for reasons to put forward a tight budget proposal, you could point to the fact that revenues are below where they were last year at this time. Of course, you could also point to current economic uncertainties and forecasts of slowdows or possibly a recession.

So far, the governor has tended to focus on the negatives and thus is likely to be less

generous than last year in his forthcoming fiscal proposal. Thus, for example, if UC were to ask for a substantial revenue bump to settle the current strike, it might not get a welcome reception from the governor. Of course, the January budget proposal is just that - a proposal. Ultimately, it is the legislature that enacts budgets. And the outlook in June when the budget must be enacted could be significantly different than it is now.

* h t t p s : / / s c o . c a . g o v / F i l e s ARD/CASH/November2022StatementofGeneralFundCashReceiptsandDisbursements.pd

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More Issues With Westwood Subway Construction Starting Tonight

Monday, December 12, 2022

LA Metro has announced additional reasons to avoid coming to UCLA on Wilshire Boulevard if you are a night owl. If you approach from the north - on Sunset - you will avoid the Westwood hassle. And, one suspects that, even in daytime, the southern route into UCLA will be a problem. From Metro:

Gayley Avenue and Wilshire Boulevard: Storm Drain Work

Summary:

Metro contractors will continue working on the storm drain basins for the future Westwood/UCLA Station. Work will be done in the southern portion of the Wilshire Boulevard and Gayley Avenue/Midvale Avenue intersection. Traffic restrictions will be implemented on Wilshire Boulevard between Veteran Avenue and Gayley Avenue.

When:

Date: December 12 to 23

Work hours:

Monday to Friday, 10 pm to 6 am

Traffic Control:

Three eastbound Wilshire Boulevard lanes will be restricted between Veteran Avenue and Gayley Avenue. One eastbound Wilshire Boulevard lane will be open.

The south leg crosswalk of the Wilshire/Midvale intersection will be closed.

Boulevard. Through traffic is permitted to Gayley Avenue and eastbound on Wilshire Boulevard.

Traffic going southbound on Gayley Avenue may not turn left to eastbound Wilshire Boulevard.

Noteworthy:

All work will receive the necessary permits and approvals.

Access to driveways, residences & businesses will always be maintained unless notified in advance.

Access for pedestrians will be maintained outside of construction zones.

Access for the Fire Department and emergency responders will be maintained.

Parking restrictions will be implemented in the immediate area of the work zone.

Construction is dynamic and schedules are subject to change.

24/7 Hotline: 213-922-6934

S o u r c e : https://cloud.sfmc.metro.net/GayleyAvenueandWilshireBoulevard_StormDrainWork.

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