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Newsom administration allegedly knew of $2B California budget error for months: report
- California leaders were aware of a $2 billion budget error related to CalPERS pension system miscalculations since February but did not inform the public while warning of budget cuts.
- The state's nonpartisan Legislative Analyst’s Office identified the pension-related error in February and notified lawmakers, describing the issue as a revision rather than a calculation mistake.
- Governor Newsom’s Department of Finance characterized the error as a revision in estimating pension payments, not a calculation error.
- Assemblyman David Tangipa criticized the administration for a lack of transparency, emphasizing that the public and lawmakers were kept unaware during budget debates.
7 Articles
7 Articles
democraticaccent.com
Newsom administration allegedly knew of $2B California budget error for months: report
California Democrats were aware of a roughly $2 billion budget accounting error for months, even though Gov. Gavin Newsom’s January spending plan already projected a roughly $3 billion deficit for the coming fiscal year, according to a report. The mistake, tied to the state’s public employee retirement system, CalPERS, could shrink that projected deficit. But state analysts warn California still faces far larger long-term budget problems, with a…
California’s embarrassing $2 billion budget error exposed, even as state leaders knew about blunder for months
California’s budget mess just got a whole lot messier — and a whole lot more embarrassing. Top lawmakers sat on a staggering $2 billion accounting blunder for months while publicly warning of a looming budget crunch, according to a bombshell memo that’s now blowing the lid off the quiet deception. Gov. Gavin Newsom’s administration built...
California's Democrats knew about a $2 billion budget accounting error for months, but the reason nobody told the public is the part that should alarm you
California Democrats were aware of a roughly $2 billion budget accounting error for months before the issue was publicly disclosed in April. Governor Gavin Newsom’s January spending plan had already projected a $2.9 billion deficit for the coming fiscal year, as detailed by Fox News. The delayed disclosure has drawn scrutiny from lawmakers and budget analysts alike. The error is tied to the state’s public employee retirement system, CalPERS. New…
ASSEMBLYMEMBER TANGIPA CALLS OUT GOVERNOR NEWSOM FOR $2 BILLION BUDGET CONCEALMENT AND LACK OF TRANSPARENCY Governor’s administration hid $2 billion budget error for months while legislat - Sierra Wave: Eastern Sierra News - The Community's News
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