General Fund obligations and liabilities:Governor's Budget.

Existing law requires the annual budget submitted by the Governor to contain, among other things, statements of accounts payable and cashflow for the preceding, current, and succeeding fiscal years. This bill would require the Governor's annual budget to contain certain information regarding General Fund obligations and liabilities and would require the Governor, at the time of the May Revision, to submit his or her recommendations for potential methods of retiring those obligations and liabilities identified in the budget.