(245 pages, 12 MB) For the first time in three years, the Legislature's budget choices are not limited to raising taxes or cutting into the base level of expenditures. Sufficient funds will be available in 1984-85 to maintain, and even expand, the existing level of services provided to the people of California. In terms of real purchasing power, the level of General Fund revenues projected for 1984-85 is 4.0 percent higher than the level of revenues estimated for the current year. Here we provide a brief overview of the state's fiscal condition during the current and budget years, estimate what it would cost to maintain the existing level of services provided by the state in 1984-85, take a brief look at the long-term fiscal outlook for the state, and provide a more detailed discussion of revenues and expenditures.