Question 1

The budget process occasionally follows the "textbook version." More often,permutations of the process occur.

Accepted Answer

A) True 
 B)False

Question 2

Approximately how much debt does the state carry in general obligation bonds that need to be repaid over time?

Accepted Answer

A) $1 billion 
B) $45 billion 
C) $85 billion 
D) $500 billion

Question 3

Which one of these represents the biggest source of the state's annual revenues?

Accepted Answer

A) taxpayers in the middle income and lower income tax brackets (combined) 
B) sales taxes 
C) property taxes 
D) the top 1% of taxpayers

Question 4

How does Proposition 13 affect budgeting today?

Accepted Answer

The answer of How does Proposition 13 affect budgeting today?...

Question 5

Lobbyists don't just work for private interests;they also represent schools,special districts,cities,and counties--in other words,local governments--in the lawmaking and budgeting process.

Accepted Answer

A) True 
 B)False

Question 6

Historically there have been large imbalances in California's annual budget.What are the causes of budget deficits in California?

Accepted Answer

The answer of Historically there have been large imbalances in...

Question 7

Generally speaking,it is common practice for governors to use the line-item veto with the budget bill,especially if the governor is of a different political party than the majority party in the legislature.

Accepted Answer

A) True 
 B)False

Question 8

In fiscal year 2015-16,the federal government was scheduled to transfer approximately ______ to the State of California.

Accepted Answer

A) $100 billion 
B) $50 billion 
C) $1 billion 
D) $500 million

Question 9

What are some of the major factors (political or otherwise)that influence the budget process?

Accepted Answer

The answer of What are some of the major factors...

Question 10

What vote threshold must be reached for the legislature to approve new taxes or raise fees?

Accepted Answer

A) a plurality 
B) a simple majority (50% + 1) 
C) a supermajority of 55% 
D) a supermajority of two thirds

Question 11

The state spends most of its annual budget on ______.

Accepted Answer

A) education and health and human services 
B) prisons and general government 
C) business,transportation,and housing 
D) interest on the debt

Question 12

Approximately how large is California's total annual budget when federal funds,bond funds,and special funds are combined with the general fund?

Accepted Answer

A) just under $5 billion 
B) $20 billion 
C) $100 billion 
D) nearly $300 billion

Question 13

The annual budget is a bill that must pass both houses of the legislature with a simple majority vote,and then be signed into law by the governor.

Accepted Answer

A) True 
 B)False

Question 14

California is an equal-opportunity taxation state,meaning that the percentage of taxes paid is virtually the same across socioeconomic classes.

Accepted Answer

A) True 
 B)False

Question 15

What is a "structural deficit?"

Accepted Answer

The answer of What is a "structural deficit?"...

Question 16

What is "budgetary borrowing?"

Accepted Answer

A) writing a budget with a large deficit,and assuming that the gap will be closed with higher revenues from an improved economy 
B) borrowing money to close the difference between revenues and expenditures through selling bonds,or borrowing from state accounts intended for other purposes 
C) unfunded mandates that cost the state billions a year 
D) bonds that cover needed infrastructure projects

Exam 8: The California Budget Process

The budget process occasionally follows the "textbook version." More often,permutations of the process occur.

Approximately how much debt does the state carry in general obligation bonds that need to be repaid over time?

Which one of these represents the biggest source of the state's annual revenues?

How does Proposition 13 affect budgeting today?

Lobbyists don't just work for private interests;they also represent schools,special districts,cities,and counties--in other words,local governments--in the lawmaking and budgeting process.

Historically there have been large imbalances in California's annual budget.What are the causes of budget deficits in California?

Generally speaking,it is common practice for governors to use the line-item veto with the budget bill,especially if the governor is of a different political party than the majority party in the legislature.

In fiscal year 2015-16,the federal government was scheduled to transfer approximately ______ to the State of California.

What are some of the major factors (political or otherwise)that influence the budget process?

What vote threshold must be reached for the legislature to approve new taxes or raise fees?

The state spends most of its annual budget on ______.

Approximately how large is California's total annual budget when federal funds,bond funds,and special funds are combined with the general fund?

The annual budget is a bill that must pass both houses of the legislature with a simple majority vote,and then be signed into law by the governor.

California is an equal-opportunity taxation state,meaning that the percentage of taxes paid is virtually the same across socioeconomic classes.

What is a "structural deficit?"

What is "budgetary borrowing?"