California Readying New State Budget

High winds, rising waters and downed power lines notwithstanding, one of the year’s most significant financial events for state-level IT and innovation is nearly upon us.

Work is going on now behind the scenes at Gov. Gavin Newsom’s office on the release of his proposed state budget for the 2023-2024 Fiscal Year, which begins July 1. In fact, the process of planning for the new budget is already underway and has been for many weeks.

By law — in accordance with the California Constitution — the governor has until Jan. 10 every year to present his proposed budget for the upcoming fiscal year. And in fact, Newsom will present the budget at 9:15 a.m. Tuesday, his office announced late Monday. Sometime shortly after that, we’ll see the Governor’s Proposed Budget added to the state budget website. Currently, the latest budget year available on that website’s dropdown menu is FY 22-23, which is to be expected.

Industry Insider — California will have coverage of the new state budget, budget change proposals and budget hearings as they happen, so stay tuned.