Letters to the Editor • CAFRs - Your Government's Wealth Shown
Calif. Government Has the money to fix its Budget w/ interest
The original General Fund budget of $102.1 billion was increased by $865 million due to miscellaneous
augmentations for emergencies. During the 2006-07 fiscal year, General Fund actual expenditures were
$101.5 billion, $1.5 billion less than the final budgeted amounts.
Capital Assets and Debt Administration
Capital Assets
The State’s investment in capital assets for its governmental and business-type activities as of June 30, 2007,
amounted to $98.1 billion (net of accumulated depreciation). This investment in capital assets includes land,
state highway infrastructure, collections, buildings and other depreciable property, and construction in
progress. Depreciable property includes buildings, improvements other than buildings, equipment, personal
property, intangible assets, certain infrastructure assets, certain books, and other capitalized and depreciable
property. Infrastructure assets are items that are normally immovable and can be preserved for a greater
number of years than most capital assets. Infrastructure assets include roads, bridges, streets and sidewalks,
drainage systems, and lighting systems.
Table 4 presents a summary of the primary government’s capital assets for governmental and business-type
activities.
Table 3
General Fund Original and Final Budgets
Year ended June 30, 2007
(amounts in millions)
Budgeted amounts
State and consumer services ….….….….….….….….….….….….….….….…
Business and transportation ….….….….….….….….….….….….….….….….…
Resources ….….….….….….….….….….….….….….….….….….….….….….…
Health and human services ….….….….….….….….….….….….….….….….…
Correctional programs ….….….….….….….….….….….….….….….….….….…
Original
$ 645
2,649
1,824
29,526
8,786
Final
$ 602
2,649
1,720
29,866
9,289
Increase/
(Decrease)
$ (43)
0
(104)
340
503
Education ….….….….….….….….….….….….….….….….….….….….….….…
General government:
Tax relief ….….….….….….….….….….….….….….….….….….….….….….
Debt service ….….….….….….….….….….….….….….….….….….….….….
Other general government ….….….….….….….….….….….….….….….….
49,251
977
3,388
Total ….….….….….….….….….….….….….….….….….….….….….….…
$
5,084
102,130
49,321
981
3,402
$
5,165
102,995
70
4
14
$
81
865