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California Healthline Daily Edition

Summaries of health policy coverage from major news organizations

California’s Net Worth at Negative $127.2B, Audit Says

A new Bureau of State Audits report found that California's general fund spent $1.7 billion more than it received in revenues in fiscal year 2012, resulting in an accumulated deficit of about $23 billion and a negative state net worth of $127.2 billion. The report listed the state's long-term obligations at $167.9 billion, which did not include the more than $60 billion in unfunded liabilities for retiree health care.

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